Lenddo and EFL Team Up to Lead Financial Inclusion Revolution

Merger Will Provide Digital Data Sources and Predictive Analytics for Financial Institutions Serving Emerging Markets


Lenddo and Entrepreneurial Finance Lab (EFL), leaders in credit decisioning for emerging markets, today announced they are joining forces. Lenders will use the combined company’s unique platform to provide individuals worldwide with unprecedented, affordable access to convenient financial products.

United by the common vision of providing financial inclusion for more than one billion new and underserved individuals across the globe, Lenddo and EFL will together provide a suite of credit scoring and identity verification products to more than 20 emerging markets.

“We’re thrilled to join forces with Lenddo and create an undisputed, global category leader in alternative data for credit decisioning,” said Jared Miller, CEO of EFL. “This merger will allow us to apply the right data at the right time on a per client basis, allowing people to use their digital profiles and personality traits to increase their financial options. Financial institutions across emerging markets will be able to predict risk like never before through the combination of our data sources and innovative risk modeling techniques.”

Lenddo and EFL have individually facilitated over 5 million credit assessments since inception, allowing more than 50 financial institutions to disburse over $2 billion USD in credit to people with limited information. The combined company will work with banks, telcos, retailers, microfinance institutions and insurers to serve individuals and small businesses. The organizations will benefit from having access to the best globally-available data and leading machine learning and risk modeling techniques, enabling them to serve new and underbanked populations safely, quickly and cost-effectively. Individuals with little to no credit history will be empowered to choose if and when to use their own digital data, such as psychometric, social media, and mobile phone data, to access the financial services they need.

“With this merger, we’re delivering on our shared commitment to power leading financial institutions with cutting edge technology to serve emerging markets,” said Richard Eldridge, Co-Founder and CEO of Lenddo. “We’re excited to advance our mission of financial inclusion on a global scale and work as one, united organization to bring together the best new digital and non-traditional data sources to improve access to financial services.”

The first joint product offering goes live in Asia and Latin America today, with additional products and features scheduled for release in the coming months.

The agreement has been approved by their respective boards with no commercial terms being disclosed. Further details about the new, combined entity will be announced later this year. For more information, please visit https://include1billion.com.

About Lenddo

Lenddo began in 2011 when the founders of an outsourcing company in the Philippines noticed their hard-working, middle class employees kept asking for loans. Why were they being excluded from financial services? 

Today, Lenddo works to improve financial inclusion around the world, enabling financial service providers to access and serve new and underserved markets using its disruptive technology and leveraging new sources of data, such as mobile and digital footprints. Lenddo's product suite includes credit scoring, where it processes hundreds of thousands of applications each month, in addition to digital verification and marketing insights solutions.

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About EFL

EFL began as a research project in 2006 at Harvard University, asking how can we determine if someone is credit worthy if they lack credit history, collateral and other traditional information? 

Today, EFL helps lenders in emerging markets responsibly say yes to borrowers when others are forced to say no due to lack of information. EFL has developed a universal digital credit scoring technology that leverages psychometrics and behavioral science to effectively score anyone, anywhere, at any time. With 10 years of experience enabling over $1.6 billion in loans globally, EFL serves leading financial institutions across Latin America, Asia, Africa and Europe.

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Frequently asked questions


Both EFL and Lenddo have been dedicated to leading financial inclusion, providing millions of people access to powerful financial products at a lower cost, faster and more conveniently. By joining forces, we have the unique opportunity to incorporate more data sources for inclusive decisioning, deliver more innovative financial products and services for our customers, and pursue our vision to promote financial inclusion for more than one billion people in the next few years. Our new company will be an unprecedented combination of strengths, with global presence, reputation and expertise, delivering the best globally-available data sources for credit scoring and verification, and unique analytics using both structured and unstructured data.

How will financial institutions benefit from this merger?

LenddoEFL offers leading alternative credit scoring and digital identity verification products. Institutions will benefit from this merger in 3 main ways:
1. Give end clients the best possible experience: With LenddoEFL, you empower your clients to use the data they choose to send a strong signal of credit-worthiness with minimal friction.
2. Safely approve more people with the optimal combination of data sources: Maximize approvals and reduce risk by leveraging the best available sources of data on a per client basis. Make decisions with more than traditional data alone.
3. Leverage the most innovative technology: Always have access to the best new data sources, leading machine learning techniques, and cutting edge verification and decisioning products. Together we will continue to bring you the tools you need to include more people in financial services.


Yes, beyond our current offerings, we are expecting to be able to build new products. We will keep this website updated with information on those. 

Will the LenddoEFL name change?

Most likely yes, but not yet. In the very short term the merged company will go by LenddoEFL. We anticipate a decision about a longer term brand will be made in Q1 2018. 

Will there be service disruptions because of the merger?

There will be no service interruptions of any kind because of the merger. Everything that you had before, you will have after. New product releases will continue as planned and any future changes will be communicated in advance as always.


There are no planned changes to the office locations as a result of the merger at the moment. However, we expect to increase the number of staff as we grow and will need need additional space to accommodate this growth.