In a world where the numbers of aspiring entrepreneurs are on the rise, and their thirst for investments are hard to quench, P2P (peer-to-peer) financial solutions are considered THE superhero in this scenario. Believing in this concept’s importance and the vital role it plays in the global economy, Craig Moore founded MENA’s first P2P lending platform in 2014, Beehive.
We can get your business funded faster. Want to know how?
— Beehive Fintech (@beehiveFintech) July 26, 2021
With our P2P model combined with institutional investors, we can provide finance much faster than ever before.
Speak to a member of the team to find out more.
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Beehive’s concept is derived from the Collaborative Economy Honeycomb model which is an economic model where commonly available technologies enable people to get what they need from each other. And this is mainly the reason behind its success. The Fintech pioneer connects promising businesses looking for finance with sharp-sighted investors, building mutually beneficial partnerships for growth.
The UAE-based startup is not only the first of its kind platform in MENA, but it’s also the first P2P lending platform that is regulated by the Dubai Financial Services Authority. Since its launch, businesses have borrowed more than $163 million through the company, with more than 12,000 investors registered on the platform. The Dubai-based startup closed a funding round of $6 million in 2020, led by Riyad Taqnia Fund and DIFC, which brings its total funding to $18 million to date. This resulted in having its name shine among Forbes’ 50 Most-Funded Startups in the Middle East.
How does Beehive’s platform work?
(Image via Wamda)
Beehive promises SMEs a cheaper cost of finance compared to conventional banks, and shorter time to finance their businesses. The unique platform claims that SMEs save an average of 25-35 percent on the cost of finance, and can get their cash in a matter of days.
On the investors’ side, the smart investors have multiple options to exit on Beehive. They can either make money from their investments, and they can also trade with fellow investors on the platform. In other words, investors can post part of the deals they’ve made into a secondary market which provides them with the liquidity option for selling parts of the deals. In addition, Beehive has developed an algorithm that allows investors to set personalized parameters around desired risk and returns that allows them to sit back while the platform automatically makes bids on a secure, trackable account.
