Revolut Partners with Lending Works to Offer Loans

Revolut has announced a new partnership with Lending Works that will allow the mobile banking app to offer P2P loans; through the partnership, the app’s mobile users can submit loan applications and receive funding; loans will be available for 500 British pounds ($608) to 5,000 British pounds ($6,079) with APRs of approximately 9.9% and Lending Works will use customer data from Revolut in loan underwriting approvals; the partnership is expected to bring a significant amount of new business for Lending Works which was launched in 2014 and has lent a total of 50 million British pounds ($61 million) to consumers.  Source

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!