Welendus

Welendus operates as a peer-to-peer (P2P) lending platform in the United Kingdom, focusing on the short-term credit market. Founded in March 2015 by Nadeem Siam and Tuomas Hietanen, the company launched its platform in December 2017 after receiving full authorization from the Financial Conduct Authority (FCA). The venture was initiated to address a perceived gap in the market for ethical and affordable short-term loans, positioning itself as an alternative to high-cost payday lenders.

Nadeem Siam, an Egyptian-born entrepreneur with a background in space engineering for entities like NASA and the European Space Agency, transitioned into the fintech sector to challenge the existing short-term lending industry. His technical expertise in designing computer systems for space satellites provided a foundation for building a technology-driven financial platform. The company's journey involved securing initial funding from investors and later through crowdfunding campaigns on Seedrs to facilitate expansion.

The business model centers on directly connecting individual borrowers with lenders, or investors, through its online platform. This P2P structure is designed to offer more competitive rates for borrowers and higher returns for investors compared to traditional financial institutions. Revenue is generated based on the interest rate spread, which is tailored for each borrower considering their risk profile, loan amount, and duration. The platform serves individuals in need of emergency cash or short-term financing, offering loans typically ranging from £50 to £500. For investors, it provides an opportunity to enter the short-term credit market, with potential returns advertised between 5% and 15% annually, based on the risk level of the loans they choose to fund. Features like "AutoMatch™" and "Autodiversify™" help investors manage their portfolios by automatically matching them with borrowers and spreading their investment across multiple loans.

In June 2019, Welendus underwent a significant rebranding to become Fund Ourselves. The change was motivated by a desire for a name that more clearly communicated the company's mission of empowering users and giving them control over their finances. The core service remained the same post-rebrand, continuing to offer short-term P2P loans and an Innovative Finance ISA (IFISA).

Keywords: Welendus, Fund Ourselves, peer-to-peer lending, P2P loans, short-term credit, Nadeem Siam, financial technology, fintech, consumer finance, personal loans, alternative lending, debt financing, financial inclusion, FCA authorised, investment platform, Innovative Finance ISA, IFISA, UK startup, credit marketplace, ethical lending, loan investment