Debitum Network leverages blockchain technology to secure and distribute fiat investments micro, small, and medium businesses.
The company announced today that it has signed a partnership with Creditinfo, a credit bureau in Lithuania. Creditinfo helps make credit decisions for all commercial banks, 98% of other credit institutions, and more than 1,500 other business ventures in Lithuania.
Martins Liberts, the co-founder of Debitum Network commented:
“Our partnership with Creditinfo will provide the critical data our system needs for risk assessment, streamlining the lending process and making it feasible for large scale deployment.”
Debitum Network’s goal is to connect SMEs around the world that lack access to traditional financing opportunities to a marketplace where they secure loans. Companies or individual professionals who work in the alternative finance space can connect to Debitum for free and immediately begin facilitating deals.
Creditinfo will be the aggregator of credit information from local authorities. Once the loan is approved, it’ll be processed using smart contracts via Ethereum-based blockchain and Debitum tokens. Transactions are dispersed in local fiat currencies, ensuring businesses can access their funding from day one.
The Debitum ICO starts on November 30, 2017. For more information, visit https://debitum.network/.