Lenpals is being launched to help redefine the short term lending industry and deliver affordable and responsible credit to consumers. Based in Sweden, Lenpals is developing its proposition from the ground up and plans to launch its services in early 2023.

By selecting Bricknode, Lenpals now has access to a complete loan origination and management system from which it can administer its lending product. Bricknode Lending handles the complete loan lifecycle and can be configured to support various lending propositions.

Lenpals is developing its customer application with technology firm Visionmate, which will integrate with Bricknode Lending via API.

“As we create our new lending product with Visionmate CTO Daniel Bjuhr, it’s imperative that we have the right loan management software in place so we can automate administrative processes and scale our operation without restriction,” said Richard Håkansson, System & Software Manager at Lenpals. “That’s why we chose Bricknode. Their industry expertise and offer of no setup fees were also huge advantages to a start-up business like ours.”

“Lenpals is a great example of how innovative new companies are creating the next generation of financial services,” said Erik Hagelin, Co-CEO of Bricknode. “In choosing our loan management software, Lenpals can focus on creating value through its customer application and go to market far quicker than if they built a solution themselves.”

Bricknode customers can also use its API to extend the capability of its software with third-party applications and Bricknode’s own add-ons, which include functionality such as credit scoring and tax management.