Fneek launches in France to “formalise friendly loans”
New lending app Fneek has launched in France with the aim of streamlining loan agreements between individuals and their personal networks.
“Friendly loans” app Fneek launches in France
Developed by CEO Chaker Boughanbouz, the start-up offers a peer-to-peer (P2P) lending solution that seeks to “manage and formalise friendly loans between friends, family, and trusted relationships”.
The app facilitates an environment in which a lender and a borrower can determine, register, and sign loan agreements with customised terms.
Once finalised, the lender is debited the value of the agreement “within minutes”, while the borrower is provided with the option of repaying the loan through monthly, quarterly or one-off instalments, with the automated process managed through the app’s centralised interface.
In a statement, Boughanbouz, an associate professor at the University of Cote d’Azur, says Fneek aspires to “address the issue of unpaid loans with cutting-edge technology”.
He aims for the app “to transform how friendly loans are handled across Europe, offering a reliable, transparent platform that builds trust and clarity in financial dealings, while also advancing financial inclusion”.
Speaking to FinTech Futures, Boughanbouz confirms the start-up will now look to raise seed funding to power the development of additional features for its lending solution, including a geolocation system capable of sourcing different lenders, and a machine learning (ML) system for credit scoring.
