Elfin Market crowdfunding

They are currently raising on Seedrs, They use a peer-to- peer lending model to provide credit cards. It is EIS eligible and the founders seem to know what they do.
Any thoughts?

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I’m struggling to see if they offer anything different from the existing P2P like Ratesetter, Zopa, Funding Circle.

It looks like from a borrowers perspective instead of getting a loan paid into your current account, they hold it in an “Elfin Purse” for you to either transfer to your own account or use their debit card to spend it directly (once they get them made). It looks like aren’t doing admin/arrangement fees and taking all the profit from the investors side from the interest you pay.

From an investor it looks like they take a 1.5% servicing fee from borrower interest payments before passing the rest on to you. The invest page has 8% - 12% Average returns earned so far.

Looks like these five guys will be minted soon.

£6.5m seems low. Are you tempted to invest in the business and/or become a lender?

I am tempted to invest in the business for now