In brief: Startup that helps you find best loan rates raises seed round

Singapore-based loan broker Lendela announced today a US$940,000 million seed financing round led by Cocoon Capital and IMO Ventures. Through an online platform, borrowers will be offered the best interest rates for personal loans from several banks at once, saving both time and money.

Lendela differentiates itself from competitors by handholding the user from loan application to payout. It brings transparency and ease-of-use to borrowers while reducing the risk and cost for lenders.

Source: Lendela’s press release

The startup has direct integration with banks to make its offerings possible.