Bitbond conducts a machine learning based credit check which uses the revenue data of merchants. Potsdam-based Obotritia has committed to fund loans worth €5m ( €1.4m ) on peer-to-peer lending platform Bitbond , which uses the bitcoin blockchain for payment processing. The agreement also involves Obotritia Capital acquiring a stake in the loan platform for an undisclosed sum. Bitbond , which has originated $5.5m in loans since its launch in today , said the funds would be used for product development and marketing, while CEO Radoslav Albrecht said the company's next step was to move further into SME financing.
Potsdam-based Obotritia has committed to fund loans worth €5m ( €1.4m ) on peer-to-peer lending platform Bitbond , which uses the bitcoin blockchain for payment processing. The agreement also involves Obotritia Capital acquiring a stake in the loan platform for an undisclosed sum. Bitbond , which has originated $5.5m in loans since its launch in today , said the funds would be used for product development and marketing, while CEO Radoslav Albrecht said the company's next step was to move further into SME financing.