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Bitbond is a marketplace lending platform for small business loans that leverages blockchain technology to connect creditworthy borrowers with individual and institutional investors.
All payment transactions on Bitbond are conducted via the bitcoin blockchain. Therefore, its service is available worldwide via the internet and is independent of banks.
To score borrowers who are not covered by conventional credit bureaus, Bitbond uses alternative data for credit scoring. This includes transactions of small business owners from accounts like eBay, Amazon, Etsy, MercadoLibre, Shopify, PayPal, bank accounts, and more. The data is evaluated with BitBond’s proprietary machine learning algorithm.
Investors on Bitbond can either pick the loans they would like to fund manually, or you use BitBond’s AutoInvest tool. AutoInvest lets investors create a diversified portfolio of loans according to their preferences in an automated way. The benefit for investors who use Bitbond is that they can create a portfolio of loans that are diversified across many different countries.
Bitbond is incorporated in Berlin, Germany and is a fully regulated financial institution.