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Meet IOUcash – A Social Lending Platform Facilitating Small Short Term Loans Between Peers

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Below is our recent interview with Matthew Morgan, Strategic Advisor at IOUcash:

Q: Could you provide our readers with a brief introduction to your company?

A: IOUcash launched in August 2022. It is an all Australian company based in Melbourne. It is an easy to use, platform enabling family and friends to set out their own terms and borrow and lend money to each other. Interest-free peer-to-peer lending or what we like to think of as mates-helping-mates.

Q: Any highlights on your recent announcement?

A: We’ve done 15k pre-registrations and almost half a million dollars of loans via the app, since the launch. On customer feedback we’re also just launching a collection service, for those who have a mate who owes them money, but doesn’t want to wreck the relationship in putting pressure on them to repay.

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Q: Can you give us more insights into your offering?

A: IOUcash is a social lending platform that facilitates small short term loans between peers, mobilising cash within communities, on users own terms and without the need to involve traditional institutional financial services. We are the digital version of a credit union.

Q: What can we expect from your company in the next 6 months? What are your plans?

A: As interest rates increase, lending criteria tightens and the cost-of-living-crisis bites, IOUcash will be the “go-to” for borrowing money, rather than the banks and traditional sources of loans.

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Q: What is the best thing about your company that people might not know about?

A: IOUcash is the first and only ID-verified, peer-to-peer lending app available on the app stores.

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