Octapass Lending Approval

Octa Pass stands for "Open Console Technology Application for Public Access Security System". Peer-to-Peer (P2P) lending is a method of debt financing that enables individuals to borrow and lend money without the use of an official financial institution as an intermediary. Peer-to-peer lending removes the middleman from the process, but it also involves more time, effort and risk than the general brick-and-mortar lending scenarios.

With peer-to-peer lending, borrowers take loans from individual investors who are willing to lend their own money for an agreed interest rate. The profile of a borrower is usually displayed on a peer-to-peer online platform where investors can assess these profiles to determine whether they would want to risk lending money to a borrower. A borrower might receive the full loan amount or only a portion of what he asked for from an investor. In the case of the latter, the remaining portion of the loan may be funded by one or more investors in the peer lending marketplace. In peer-to-peer lending, a loan may have multiple sources and monthly repayment has to be made to each of the individual sources.

Series A financing

It is the first round of financing given to a new business once seed capital has already been provided. This is when external investors are given company ownership for the first time. It is also known as round A financing. The investors involved in the Series A round come from more traditional venture capital firms. Series A preferred stock is often convertible into common stock in certain cases such as an Initial public offering (IPO) or the sale of the company.

Series B financing

It is the second round of financing for a business through any type of investment including private equity investors and venture capitalists. Series B rounds are all about taking businesses to the next level, past the development stage Investor’s help start-ups get there by expanding market reach. Series B appears similar to Series A in terms of processes and key players.