Published on May 20th, 2013 | by Donald McIntyre0
Finovate Spring 2013: Prestadero Is A Mexican Peer To Peer Lending Marketplace
If you want to borrow money from a bank in Mexico the rates can be very high and if you want to invest what they pay you doesn’t even hold a proportion. Due to high concentration in the banking system and thus a lack of competition the spreads the banks enjoy are abnormally high.
Given this situation it was only natural that a company like Prestadero would come to solve this problem for consumers. The service is a peer to peer lending market place where investors get a much higher rate for their money and borrowers pay a much lower cost.
In this interview Gerardo Obregon, CEO of the company, talks about the Mexican market and Prestadero’s service: