South African Bank Buying Peer to Peer Lending Platform RainFin

Lebashe Financial Services is increasing its stake in RainFin a South African lender previously backed by Barclays Plc. RainFin, the largest peer to peer lending platform in South Africa, bought back the 49 percent held by Barclays’s South African unit, with Lebashe acquiring its 51 percent stake in February last year. Gaining bigger control of RainFin gives Lebashe the ability to offer banking services via mobile phones and the internet. Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.