Hey guys, today we gonna talk about Kripton ICO by L-Pesa Microfinance.
L-Pesa Microfinance is a fintech startup created to take advantage of the fast-growing need for financial services in the developing world. The company has validated its operating model over the past 24 months and has built sophisticated technology, automating most of the operation. Its primary barrier to growth at this point is its ability to fund user acquisition and loans. The loss ratio on loans runs below 10% while return on loans is approximately 25%.
The idea for L-Pesa was incubated for a decade, and the business was launched at the time four important market forces converged to allow scaling:
• Big Data, Artificial Intelligence & Blockchain
• Alternative Credit Data
• Mobile Technology
• Biometric Identity
L-Pesa started the presale in March 2018. Their ICO will run from April 10 to May 10. Their rating on ICO bench is 4.2
Hard Cap: $52 million
1 ETH = 17,500 LPK tokens (near 2 US cents per 1 token)
L-Pesa accept only Bitcoin and Ethereum.
Take a look at the project's official video:
So, what problem do they actually solve?
L-Pesa has built technology and a proprietary credit scoring model that allows it
to quickly scale microlending in developing countries while keeping loss ratios
below 10%. The solution is highly automated, allowing a small back office team to
support high volume loan origination. All loans are serviced by L-Pesa.
What is the use of the LPK Token?
L-Pesa is a token built on the Ethereum blockchain which allows holders to use
L-Pesa financial tools at reduced cost.
Why do they need blockchain?
Blockchain brings transparency and efficiency, and it drastically reduces the operational costs, making the small lending viable. Tokens are efficient transactionally over fiat, so they are more appealing to the L-Pesa target market, and they also assist in building a community.
L-Pesa founders Ron Ezra Tuval and Bo Henriksen are from Denmark and Israel. They have a great experience in fintech companies and business development. I also would like to note that both of them have a huge following on LinkedIn.
L-Pesa site - https://lpesa.io
Whitepaper - https://lpesa.io/static/pdfs/L-Pesa%20ICO%20white%20paper%202018.pdf
OnePager - https://lpesa.io/static/pdfs/l-pesa-token_onepager_en.pdf
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