Suretly is a global lending platform, based on the global experience of financial institutions and short-term lenders, using unique technology to provide short-term loans to millions of people and help lenders expand their business. Users can help people around the world get affordable loans by acting as guarantors for a fraction of the loan amount. The borrower pays the guarantee fee for the guarantor. Guarantors can find information about borrowers in the Suretly mobile app (available in the Play Market and App Store). SUR is a utility token used as collateral in the Suretly lending platform.

Project History

The Suretly project was launched in June 2016 with the support of the business incubator "Higher School of Economics" of the Russian National Research University. It also became its first investor. In autumn 2016, the project team was selected for "Generation S", the largest business accelerator in Europe. It emerged as a finalist in the Finance & Banking Technology category. Suretly started working on US market penetration in February 2017 and entered Starta Accelerator in New York. Suretly was nominated for the Benzinga Global Fintech Awards in April 2017 in the 'Best Lending Platform, Tool or App' category. This is one of the most prestigious fintech awards in the world.

Project goals

The main goal of this project is to solve the shortcomings of Peer-2-Peer credit technology and provide a new democratized product to the market for personal investment in micro-loans.
Currently, Suretly focuses on short-term loans, which allow participants to make a profit within 2-4 weeks from the date of loan issuance.

Project Technology

Suretly offers an absolutely new financial technology called "crowdfunding".
Unlike Peer-2-Peer loans, Suretly participants do not lend money directly to borrowers. They only offer them a small commission (ranging from $2 to $10). On crowdfunding platforms, participants earn money when loans are issued. They guarantee that part of the debt will be repaid later in the event of a borrower defaulting.

Project function

Within the Suretly app, customers can view a list of borrowers applying for short-term loans. Profiles include photo, city, age, gender, and statistics on timely loan repayments among similar lenders. Every participant can guarantee their favorite borrowers and earn an instant profit on every loan issued. SUR tokens can be used as collateral and must be registered to an account in the application. Once the loan is approved, the tokens will be frozen within a certain amount based on the exchange rate. If the borrower does not repay the loan later, the voucher will lose the guaranteed amount of tokens.

Starting Q1 2019, Suretly, Inc. will start transferring 0.2% of every loan secured by its participants to SURcoin pte.ltd. This money will be used by SURcoin pte.ltd to buy tokens from the exchange. All purchased tokens will be burned.

How to use SUR token

Deposit tokens into your account.
Evaluate borrowers and credit ratings.
If you are satisfied with the risk/profit ratio, please swipe right.
Tokens are frozen until the loan is paid off.
You will be paid for every loan issued.

*The above content is organized by YouToCoin official. If reprinted, please indicate the source.