MICROCAPITAL STORY: New Online For-Profit Microfinance Lending Engine GlobeFunder Closes Seed Round of Funding at USD 1.5 Million

GlobeFunder is a global online lending engine for small loans scheduled to launch in October 2007. The concept of the company is as follows: to assist consumers globally with lower borrowing costs while providing a new marketplace for investors to earn profitable returns. GlobeFunder‘s leadership focus is as a scalable provider of loan funding at market-driven interest rates (see interview with GlobeFunder Co-founder and CEO Brian Mullally at P2P-Banking.com blog).

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