FairMoney opens £1m pre-series A to drive next-gen AI lending

Source: FairMoney

FairMoney, the fair loan comparison website, is launching the Fair Finance Community Board (FFCB) in the regions. This coincides with the commencement of its pre-series A raise of £1m.

The aim of the FFCB is to galvanise committed and knowledgeable people across the regions from all walks of life to support fair finance for all and lobby for fairness across the financial industry. This endeavour is supported by the Campaign for Fair Finance, who have recently been featured, along with Fairmoney.com, in Forbes and on TalkRadio, and have interviewed notable individuals such as Jacob Rees-Mogg and Archbishop of Canterbury Justin Welby to promote the FFCB.

To join the Board at the FFCB requires a minimum investment of £2,000 in shares of FairMoney and a desire to promote fair financial services, especially lending practices, in their region. Debt should be a virtuous tool to help build our future and not a vicious trap to drive us into poverty. FFCB members will be able to enjoy the resources including media exposure shared by the Campaign for Fair Finance and Fairmoney.com.

The £1m pre-series A raise of £1m will be used primarily for enhanced targeted customer marketing efforts, including machine intelligence, to provide customers with the very best and fairest deals for them. It will target the areas of the country which are most affected by sub-standard lending practices - many of which are building consumer debt and exacerbating poverty. In addition, following unique and exclusive research commissioned by FairMoney exploring Brits and their finances, the raise will fund even greater customer research to help focus services in the regions which borrow the most for certain needs, such as unsecured and consolidation loans.

Dr. Roger Gewolb, Founder and Executive Chairman of FairMoney, commented on the announcement, “The Fair Finance Community Board will help spread our aim for a fair lending system to the regions to benefit the entire nation. For too long, people have been burdened with unfair lending rates, even for those with good credit. The FFCB and FairMoney are hoping to lead the charge for fairer finance across the UK.”

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