Simple P2P
Making it easy for everyone to borrow and lend on alternative investments platform
Created on 9th October 2021
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Simple P2P
Making it easy for everyone to borrow and lend on alternative investments platform
The problem Simple P2P solves
Problems
The alternate investments are really distributed and difficult to use.
Hassle to take loans
In order to take loans too many documents to be submitted on multiple platforms and manually compared
Hassle to manage investments
Need to select specific loans to invest in. Need to understand different loan types and manually select each one
Low Flexibility
Money is locked in for the duration of loans and cannot be withdrawn before maturity
Solutions
AllInvest aims to bridge the gap between alternative investments and bank accounts
Accessible Loans
Anyone can use APIs to submit their information to all platforms in an instant.
Quick Loan Disbursement
With the help of Setu AA, the financial information of the user is readily available preventing the user from submitting different attachments/documents and also enables quick analysis for Loan Approval
Convenient Investments
Users can learn and invest in different types of loans on a single platform
Loan Pools
By creating a pool of assets we enable withdrawal anytime and better diversification
Challenges we ran into
Challenges
- Development (Redirecting from WebView): While building the application we faced a little issue while implementing redirect from Setu consent WebView back to our loan application. We resorted to the slack dev help channel which solved our problem in less than an hour
- Business: We had to figure out the solution to pooling user money while not coming under AIF regulation. We can get around it by randomly picking a set number of people per pool to put names on the lending agreement