Photo-Location: The Water Tower
Built in 1877, the water tower in Prenzlauer Berg is the oldest one in Berlin and has survived a dark past to become a popular picnic spot and vineyard today. It also houses several apartments.
Bitbond – Berlin based Marketplace lender for small business loans
Bitbond is the first global marketplace lender for small business loans. The platform leverages bitcoin as an open source technology and payment network. This way everyone who has access to the Internet can get an affordable loan and earn attractive interest rates through Bitbond. By connecting borrowers and lenders from around the world, one of Bitbond’s primary goals is to help close an estimated funding gap of $ 2 trillion in the micro, small and medium-sized enterprises segment. Bitbond applies an innovative scoring mechanism to assess the creditworthiness of borrowers. Online sellers connect accounts like eBay, PayPal and others to signal their repayment ability. The data is evaluated through machine learning. Bitbond also calls itself the #unbank. Unlike many other Fintech startups, Bitbond uses bitcoin as its only financial infrastructure and is therefore entirely independent of banks or other third parties.
Link to Startup-Website: www.bitbond.com
Our partner site HEY STARTUPS has visited Bitbond in their office. Here´s the video:
Bitbond is a unique product in the bitcoin lending market. Founded in January 2013 by Radoslav Albrecht and Robert Nasiadek, the Berlin-based startup is a global peer-to-peer lending platform that enables small businesses to raise short and long term bitcoin loans after going through a credit review process. By using the cryptocurrency, Bitcoin, Bitbond users do not need a bank account to make transactions. Fees are much lower than elsewhere, and this is due largely to a much more proactive and successful borrower risk-assessment program. Unlike the competition, which will allow almost any borrower onto the platform, bitbond’s acceptance rate is approximately 40%. Reasonable fees, possible due to the lower overall risk profile of loans on the site, attracts more serious borrowers and more serious borrowers leads to lower default levels. Bitbond caters to small businesses, and focuses on longer term loans.