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Turkish micro-lending company Korendi has secured a $150 million line of credit from digital bank Fivabanka to provide financial assistance to its customers.
Colendi secures $150 million line of credit from Fibabanka
Colendi is a multi-function banking as a service (BaaS) fintech, providing payment, loan and investment services to consumers, merchants and financial institutions.
The company will use the new facility to offer new loan and investment opportunities as it attempts to “democratize” digital banking services for the unbanked.
Colendi’s global CEO, Bulent Techmen, said:
mer Mert, general manager and board member of Fibabanka, said the partnership will ensure that businesses and individuals “easily access financial services through established ecosystem partnerships with various financial technology companies.” It forms part of the bank’s strategy, he said.
