MICROCAPITAL BRIEF: Alternative Credit Scorers Lenddo, Entrepreneurial Finance Lab (EFL) Merge

Two organizations that facilitate lending to people and small businesses with limited credit histories, US-based Entrepreneurial Finance Lab (EFL) and Singapore-based Lenddo, recently merged. Prior to the merger, the organizations had completed a total of 5 million credit evaluations facilitating USD 2 billion in lending by 50 banks, microfinance institutions, insurers, retailers and telephone companies in 20 emerging markets.

Lenddo CEO Richard Eldridge said, “We’re excited to advance our mission of financial inclusion on a global scale….” Regarding privacy, a press release indicates that potential borrowers “will be empowered to choose if and when to use their own digital data.”

EFL’s algorithms are based on psychometric testing, whereas Lenddo’s use data such as mobile phone and social media usage. The combined organization also will provide other services, such as identity verification.

Sources and Additional Resources

PR Web press release



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