Hostaway Gets Into Fintech With Loans to Customers
Photo Credit: The Hostaway founding team (L-R) Saber Kordestanchi, Marcus Rader and Mikko Nurminen. Source: Hostaway Hostaway
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The underwriting will be done by Parafin, a company backed by early investors of Robinhood.
Toronto-based Hostaway, which sells property-management software, announced it will offer business loans to its customers. Hostaway didn’t share details about how the financial arrangement works but said that the industry standard is to take a commission of the loans.
Hostaway Capital will offer small business loans to vacation rental property managers who use its platform. Parafin, founded by former employees of stock trading app Robinhood, will underwrite the loans.
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