Helios P2P Company Profile

Background

Overview

Helios P2P is Sri Lanka's first online peer-to-peer (P2P) lending platform, established in 2018. The company aims to democratize access to consumer credit by connecting borrowers with investors, offering competitive interest rates for both parties. Utilizing blockchain technology and encryption, Helios P2P ensures secure and transparent transactions.

Mission and Vision

Helios P2P's mission is to provide accessible and affordable financing solutions to Sri Lankans by leveraging technology to bridge the gap between borrowers and investors. The company's vision is to become a leading platform in the region, fostering financial inclusivity and empowering individuals to achieve their financial goals.

Primary Area of Focus

The company focuses on facilitating short- to medium-term loans for consumers, including credit card refinancing, debt consolidation, and education loans. By connecting borrowers directly with investors, Helios P2P aims to offer more favorable terms than traditional financial institutions.

Industry Significance

As the first P2P lending platform in Sri Lanka, Helios P2P plays a pivotal role in introducing alternative financing options to the market, promoting financial inclusivity, and challenging traditional banking models.

Key Strategic Focus

Core Objectives

Financial Inclusion: Expand access to credit for underserved segments of the population.

Security and Transparency: Utilize blockchain technology to ensure secure and transparent transactions.

Competitive Interest Rates: Offer attractive returns for investors and lower interest rates for borrowers compared to traditional financial institutions.

Specific Areas of Specialization

Consumer Credit: Facilitate personal loans for various purposes, including debt consolidation and education financing.

Blockchain Integration: Implement blockchain for contract storage and transaction security.

Key Technologies Utilized

Blockchain Technology: Ensures secure and transparent transactions between borrowers and investors.

Data Analytics: Assesses borrower risk profiles to determine appropriate interest rates.

Primary Markets Targeted

Sri Lankan Consumers: Individuals seeking alternative financing options.

Local Investors: Individuals interested in diversifying their investment portfolios through P2P lending.

Financials and Funding

Funding History

Helios P2P has secured funding from various sources, including seed funding from John Keells X, a corporate innovation arm of John Keells Holdings. The company has also participated in accelerator programs such as Hatch X 2019 Fintech Accelerator Cohort, sponsored by the Ford Foundation USA.

Total Funds Raised

Specific details regarding the total funds raised are not publicly disclosed.

Notable Investors

John Keells X: Provided seed funding and support through the John Keells X Innovation Challenge.

Ford Foundation USA: Sponsored the Hatch X 2019 Fintech Accelerator Cohort, in which Helios P2P participated.

Intended Utilization of Capital

The capital raised is intended to support platform development, enhance security features, expand marketing efforts, and scale operations to serve a broader customer base.

Pipeline Development

Key Pipeline Candidates

Helios P2P continues to develop its platform to offer a wider range of loan products and investment opportunities, aiming to cater to diverse financial needs.

Stages of Development

Platform Enhancement: Ongoing improvements to user experience and security features.

Product Diversification: Introduction of new loan products and investment options.

Target Conditions

Consumer Loans: Personal loans for debt consolidation, education, and other personal needs.

Investment Opportunities: Attractive returns for investors seeking to diversify their portfolios.

Anticipated Milestones

User Growth: Increase in registered users and active borrowers.

Loan Volume: Growth in the total value of loans facilitated through the platform.

Technological Platform and Innovation

Proprietary Technologies

Blockchain Integration: Ensures secure and transparent transactions between borrowers and investors.

Data Analytics: Assesses borrower risk profiles to determine appropriate interest rates.

Significant Scientific Methods

Risk Assessment Algorithms: Utilize data analytics to evaluate borrower creditworthiness and set interest rates accordingly.

Leadership Team

Key Executives

Nuzhi Meyen: Co-Founder and CEO. Holds an MSc from the University of Moratuwa and a BSc from the University of Colombo. A CIMA Passed Finalist with a background in analytics, computer science, and quantitative finance.

Key Contributions

Platform Development: Led the creation and launch of Sri Lanka's first P2P lending platform.

Strategic Partnerships: Secured funding and support from notable investors and accelerator programs.

Competitor Profile

Market Insights and Dynamics

The P2P lending market in Sri Lanka is emerging, with Helios P2P being the first mover. The company faces competition from traditional financial institutions offering similar loan products but differentiates itself through technology-driven solutions and competitive interest rates.

Competitor Analysis

Traditional Banks and Financial Institutions: Offer personal loans but may have higher interest rates and more stringent eligibility criteria.

Strategic Collaborations and Partnerships

John Keells X: Provided seed funding and support through the John Keells X Innovation Challenge.

Ford Foundation USA: Sponsored the Hatch X 2019 Fintech Accelerator Cohort, in which Helios P2P participated.

Operational Insights

Helios P2P's use of blockchain technology and data analytics provides a competitive advantage in terms of transaction security and efficient risk assessment, setting it apart from traditional financial institutions.

Strategic Opportunities and Future Directions