Lenmo on SeedInvest

Lending platform for financial institutions, businesses, and individuals to invest in the small amount loan market

Raise to date: $16,513

Reporting Date: 11/06/2019

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Perferred Stock

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SEC Filing Data from Kingscrowd

Lenmo, with a pre-money valuation of $10 million, is raising crowdfunding on SeedInvest. The lending platform of Lenmo allows businesses, financial institutions, and individuals to invest in the small-amount loan market. Thus, it provides platforms for both investors to make short-term investments with high returns, and borrowers to get small amount of loans. Lenmo was founded by Mark Maurice, John Hakim, and Kyo Kim and has raised $430,000 in a previous round of funding. The current round of crowdfunding has a minimum goal of $700,000 and a maximum goal of $3,000,000, and the proceeds will be used for marketing, legal expenses, software and services, data partnerships, and salaries. Lenmo has more than 90,000 registered users, with an average monthly growth rate of 60%. Over $1.2 million of loans have already been originated on the platform, with 40 businesses signed-up and 75 more in the pipeline.