WikiLoan may be one of the most interesting companies you’ve never heard of. WikiLoan is a Social Network with a focus on finance and the young and up-and-coming company has already displayed the potential to network money the way that Facebook and MySpace have networked social interaction.
At WikiLoan, family and friends can socially interact while dealing with finance with a focus on loans and loan repayment. WikiLoan takes the stress out of asking for a loan from the borrower while also protecting the lender through their service. While WikiLoan is starting to catch the attention of smallcap investors, the young company took a major step towards prominence by signing an agreement with the well-known Fenris, LLC.
In a deal which was announced today, WikiLoan and Fenris signed a non-exclusive agreement to raise funds for the execution of a proposed acquisition strategy. The deal will potentially allow WikiLoan to pursue 5 companies and joint venture with another that will compliment the long and short-term goals of management.
One of the leaders at WikiLoan is Edward C. DeFeudis who serves as the President and CFO, sits as the Chairman of the Board and is one of the founders of the company. Currently the Manager of Spider Investments, LLC as well as President of Lion Equity Holding, DeFeudis is a rising star in his sector and a noted business man.
When asked about the impact of the contract with Fenris, DeFeudis was quoted as saying, “We are happy to have the proven team of Fenris, LLC to help us unlock the capital necessary to execute our acquisition strategy, which shall help us meet our short and long-term goals. Upon execution, we will seek to hire an experienced acquisition lifecycle management team to assist with the integration.”
The process developed by WikiLoan is explained on their website, but to oversimplify the 4-steps to the concept are as follows: Build your loan, list your loan, agree to terms and manage the loan. WikiLoan guides both the lender and the borrower through this process which makes the transition safe for all and takes the tension away from the transaction.
WikiLoan is one of the more interesting companies to have entered the marketplace and has the potential to truly evolve into a successful financial Social Network. Currently the young company is trading in the $0.22 range but has a strong system in place and many items in the pipeline which would appeal to investors from all walks of life.
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