Imeela

Interest Rate (8% – 20%)

 

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Description

Imeela


Imeela provides a fund raising platform to fund creative projects and businesses in Nigeria. Anyone seeking to raise funds for everything from films, games, and music to art, design, medical expenses, school fees, and technology can start a project on the platform. All fees are based on and applied to the amount of funds raised.

Peer-to-peer (P2P) lending is a method of debt financing that enables individuals to borrow and lend money without the use of an official financial institution as an intermediary. Peer-to-peer lending removes the middleman from the process, but it also involves more time, effort and risk than the general brick-and-mortar lending scenarios.

Pros

  • Nigeria focused platform
  • Contributors can be international

Cons

  • Limited donor base