Karma, the groundbreaking P2P financial platform, set to shake up the lending sector, has hit 3 $ Million USD in just four days of launching.
Karma has created a financial platform offering competition to traditional banks and many P2P-platforms. Financial products traditionally have been offered at rates which were advantageous only to the lender and on their terms, regulating which loans could be made or not, defining which parameters on which to do credit scoring and risk assessments.
This is where Karma comes in, giving the power of financial decision-making to a larger scale of users, offering a new solution to this age old problem.
On the Karma platform, participants have the freedom to produce different kinds of financial products, from short-term loans to interest-free, unsecured loans with an open return date. Furthermore, any assets can be given as collateral or towards credit.
Each participant can request a loan on any terms and for investors, they can offer investments on any terms, especially even with an open date — meaning you can return the loan as soon as reasonably possible.
George Goognin, CEO of Karma, says, “We always had faith in our platform and the team behind it, and now the community have shown us that they, too, see our vision and how our development will change the world of finance. Karma offers a steady and flexible ecosystem, made for people around the globe.”