Are you planning to renovate your house? Or, need money to carry out a personal project? Or, do you need a vehicle to get to your new job? Here’s a startup that may help out. Belgium-based fintech startup Mozzeno is a digital collaborative financing platform that allows individuals to indirectly finance loans granted to other individuals or companies.
Launched in February 2017 by Frederic Dujeux and Xavier Laoureux, Mozzeno allows its users to indirectly finance loans granted to other individuals or companies.
The collaborative financing platform has raised €3M in a fresh round of funding from existing investors such as the W.IN.G fund, and Federal Insurance.
The raised capital will help Mozzeno strengthen its financial base and accelerate its development. The aim of the collaborative platform is to become a major player in credit to individuals and companies.
Speaking on the development, Xavier Laoureux, Mozzeno co-founder, said, “With 2000 loans for a total of €15M, Mozzeno is poised to become a major player in digital credit in Belgium. The recently raised funds give us the opportunity to present our innovative model to an even wider audience. In this way, our borrowers can now connect directly to their bank account from our platform and prove their income and expenses much more easily.”
Mozzeno has been active since February 2017. According to the company, it is the first Belgian collaborative financing platform that allows individuals to indirectly finance projects of other individuals and professionals.
The company wants to use its model to return to the basics of the traditional banking system, where the savings of one were used exclusively to finance the projects of the other, without complicated intermediate steps.
Since its launch, Mozzeno has already granted more than 2,000 collaborative loans for nearly €15M. It also has a community of more than 6000 private investors, for whom Mozzeno has developed different lines. This is to offer a wide variety in the investments offered and thus optimise the user experience.
Image credit: Mozzeno