Fintech firm Peer For All (PFA) plans to offer a peer-to-peer (P2P) lending service in the final quarter of 2022.
PFA is jointly owned by two SET-listed companies — Aqua Corporation Plc and News Network Corporation Plc — which own 60% and 40%, respectively.
PFA will take over the P2P lending platform NestiFly Co, which was the first P2P lending platform in the country to receive a business licence from the Bank of Thailand, according to the statements issued by PFA’s two major shareholders to the Stock Exchange of Thailand yesterday.
PFA expects loan growth on the digital platform of 3 billion baht in 2023, said Aqua’s executive director and managing director Chaipipat Kaewtrirat.
In the initial stage, PFA plans to offer secured loans, which will require borrowers to use their SET100 stocks as loan collateral. The company set a loan-to-value (LTV) ratio in the…
