Ecosystem for trusted financial transactions
between people based on transparency and blockchain technology

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When it comes to the global lending market, there is one segment in particular that lacks transparency, i.e. lending between individuals (usually relatives, friends and acquaintances).

Although similar in size to the formal lending market (banks, credit card issuers, mortgage lenders, leasing providers), there are significant differences between the two.

Normalising this informal lending market would reduce the risks for lenders and improve the terms for borrowers.

No formal loan records
Disputes arise about repayment dates, terms and conditions; no reminders are sent
No contract
There is no mechanism for judicial enforcement of debt repayment
No credit history
which can have an impact on a borrower’s ability to obtain subsequent loans
No integration with the formal lending segment
Behaviour in one segment does not affect financing conditions in the other
No market-based mechanism for determining interest rates
The market is either smaller than its potential
No tools for risk management
No credit rating, diversification, insurance

We offer

We offer the following step-by-step solution to the above-mentioned problems:

  1. Creating an app to manage loans between relatives, friends and acquaintances: the app is used to find a lender and then to record, document and administer (e.g. send out reminders) the loan.
  2. Creating social groups (so-called bays) to pool financial resources through mutual lending, e.g. there are social groups centred around work, universities and social clubs that already have a certain level of trust, common values and a high degree of social control, not to mention little tolerance for irresponsible behaviour.
  3. Creating a blockchain to store individuals' credit-rating information (LBR)
  4. Using the blockchain for any financial transactions between individuals (non-credit assessment) (LBU)
  5. Developing the elements of an ecosystem for financial relations: mutual insurance; purchasing, selling or leasing items; and decision-making systems

OUR MISSION is to develop a community based on pooled financial resources and mutual trust

Every action taken by a Lendsbay ecosystem user is reflected in their rating, which is based on reliable and trustworthy behaviour within a social group. Since the ecosystem promotes users with high ratings, the amount of reliable and trustworthy behaviour will continue to increase.


The system creates a new approach to loans between friends and acquaintances:
A new approach to lending based on mutual assistance, trust and transparency that is always accessible through your phone
The ability to quickly and easily record a loan to or from a friend or an acquaintance with confirmation from the other party
Flexible loan terms at any time anywhere in the world
A rating that combines all the advantages of a bank rating (based on data from credit bureaus and Big Data sources) and a proximity rating
Recommended interest rates for loans
Borrowers create social ratings and a transparent blockchain of their personal international credit history
Loan documentation motivates compliance with the terms of the agreement and enables court action if necessary
Simple and convenient analytics
Artificial intelligence is used to improve the algorithms for social ratings

Benefits for the lender

  • A recommended interest rate for loans
  • More effective use of free cash
  • Relations are documented (loan agreements)
  • Repayment notification and reminders
  • Analysis of how free cash is being used
  • Use of social control within groups
  • Preparation of a statement of claim in case of default
  • Possibility of using debt collectors
  • Potential to use insurance to reduce risks

Benefits for the borrower

  • Quick decision-making
  • Lower interest rates on loans than those from banks
  • No mandatory insurance
  • Remote loans through the app anywhere in the world
  • Flexible loan terms
  • Possibility of debt restructuring
  • Possibility to obtain a loan without having a bank credit history
  • Transparent international credit history and social rating in the blockchain


Ninety-seven per cent of all borrowers who borrow from within a group return the amount in full (HeadHunter poll, 2017). In the case of the remaining 3%, they either forget to pay back the loan or are removed from the group.

Based on a balance between transparency and the degree of social control, we plan to emphasise the following main social groups in the app:

Friends relatives, friends and acquaintances

Given the high degree of trust within this group, the Lendsbay ecosystem adds a degree of responsibility (through loan documentation) and a convenient mechanism for accounting, management and oversight.

Work networks of co-workers

This social group is characterised by an ample level of trust and social control while Lendsbay's user rating and legal arrangements further reduce risks.

University a group of people associated with one institution

This group is characterised by a sense of belonging and responsibility, along with the pluses and minuses of the above-mentioned groups.

Blockchain - LBR

The development of a unique system for rating users that combines all the latest developments in the banking sector, social scoring (proximity), the benefits of blockchain technology and artificial intelligence.

An important advantage of our rating is that it reflects a user's entire history of financial relationships in a format that the parties can easily understand and that is necessary to make the right decision when granting a loan. The rating will be used by players in the formal sector (banks, IFIs).

Financial companies from all over the world will be able to create products using the LBR ecosystem, thereby improving the quality of information and expanding the geography of usage to a global scale.


Blockchain (LBU) and the ecosystem

As the Lendsbay project takes off and the number of users increases, new elements of the ecosystem that extend beyond formal boundaries will be developed:

  • financial services
  • ratings of users and of suppliers of goods and services
  • mutual Insurance
  • formalising relations for leasing various items
  • co-financing
  • decision-making systems

Lendsbay TEAM

Graduated from the Department of Computational Mathematics and Cybernetics at Lomonosov Moscow State University, Master's in Finance from the New Economic School in Moscow. Banking experience includes seven-plus years in market risk, three-plus years in IT and four-plus years in corporate finance at Zerich Bank, Alfa Bank and Raiffeisen Bank. Associate director of Sberbank CIB.
Graduated from Cambridge University with a degree in Economics. Has extensive experience in corporate finance at a number of major global banks and investment companies, such as Goldman Sachs, Rothschild Investment Corporation, Deutsche Bank and VTB Capital. Managing Director of Sberbank CIB.
Graduated from the Law Faculty at Moscow State Pedagogical University with a degree in Civil Law. More than 10 years' experience in the legal profession, including in the fields of intellectual property and IT, extensive judicial practice in courts of various instances. Entrepreneur.
Graduated from the Faculty of Mathematical Methods in Economics at the Financial University under the Government of the Russian Federation. More than 10 years' experience in retail risk at top-three Russian banks, Chief Risk Manager

Graduated from Russia's National University of Science and Technology (MISiS). More than 10 years’ experience in IT/programming and designing online and offline systems and applications. Three-plus years' experience in programming for iOS/Android. Extensive experience with Big Data and blockchain technology. Technical Director of a developer/integrator company.
DARIA BATAMIROVA Marketing strategy
Graduated from the British School of Design with a degree in Graphic Design and from the State University of Management with a degree in Sociology and Psychology. Over 13 years' experience in marketing communications and branding for the agencies JWT, BBDO, Y & R, LEO Burnet, DDB, DRAFTFCBADV and with international clients. Director of Marketing and Communications at Sova Capital Limited.
Graduated from the Department of Mechanics and Mathematics at Lomonosov Moscow State University, Master's in Finance from the New Economic School in Moscow. Spent two years working for a top-three telecoms operator and has eight-plus years of experience in the field of retail risk. Head of the Retail Risk Analysis Department in top-ten Russian banks.
Graduated from the St Petersburg State University of Film and Television with a degree in Audiovisual Engineering. Also studied Marketing and PR. Five-plus years' experience in online marketing. A Google AdWords and Yandex.Direct certified specialist. Extensive experience with SMM and targeted advertising.

Prior to co-founding ANDN Consulting, was a partner at Norton Rose Fulbright Corporate Finance Department, London, and spearheaded Norton Rose Fulbright’s CIS practice. Vast experience in advising on emerging markets transactions, CIS and CEE.
Alexey Khaliullin  Adviser
Graduated from the Cambridge University with a Master degree in Economics. Alexei worked at Deutsche Bank and Morgan Stanley in London, in a PE fund Alfa Capital Partners in Moscow. From 2005 to 2010 was the CFO of a premium fitness club chain "World Class". From 2010 to 2015 built a successful consumer business. Since 2015-consultant and project leader at The Boston Consulting Group, specializing in operations efficiency in a wide range of industries, as well as government innovation policy.
Andrey Lukashevich  Adviser
Graduated from the Department of Computational Mathematics and Cybernetics at Lomonosov Moscow State University, MBA at INSEAD Business School. Worked as a partner at Kei-Ei Consulting, Ward Howell International and as an M&A consultant at PwC. 2015-2018 MD, CEO Delivery Club (the largest food delivery service, presented in 97 cities of Russia). Currently CEO of the investment division Foodtech Ventures.
Evgeny Kaplin  Adviser
CEO Modultrade. 17+ years in International Trade and Banking business with Strategic consulting experience. Successfully launched and ran a global trade finance platform in one of the top Europe bank. McKinsey, Sberbank, Cargill, Gazprom.
  • Createding a web prototype
  • Market research
  • UX testing
  • Builtding a financial model
  • Developed the server and user part of the application

JULY 2018
  • Release of the beta version of the app for Android/iOS
  • Developing the legal component (loan agreements, lawsuits, debt collectors)
  • Establishing ratings and pricing mechanisms
  • Сonnecting to the app
  • Adaptation for Telegram
  • Connecting to a credit bureau
  • Connecting to telecoms/online credit history providers
  • Entry into the UK and US markets
MARCH 2019
  • Creating social groups: Co-workers/University
  • Linking to a payment system
  • Implementing the social ratings system (proximity rating)
  • Implementing the behavioural ratings system
  • Creating an API
  • Entering developing markets
  • Implementing the blockchain ratings system (LBR): distributed accounting and storage of ratings data
  • Constructing a ratings model based on multiplicity of data
  • Providing the suppliers of goods and services with secure access to the ratings system data to create their own ratings
  • Granting financial organisations secure access to ratings data
  • Creating a universal rating for economic relations (LBU)
  • Creating various ecosystem elements
  • Building a consolidated ecosystem of transparent relationships


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