by Greg Wilson
In 2006, Renaud Laplanche had a big idea…
He wanted to disrupt the traditional personal loan space through technology. So he turned to a groundbreaking tech called peer-to-peer (P2P) lending.
P2P lending allows individuals to both offer and receive loans from each other without an intermediary or middleman.
You see, Laplanche believed P2P lending would allow him to offer lower-cost loans than traditional banks… and make credit available to even more people.
On top of that, individual investors could lend money to their peers and generate income from the returns. It was a win-win situation.