Subscribe to Entrepreneur for $5
Subscribe

Vouch: The First Social Network for Credit

By
This story appears in the November 2015 issue of Entrepreneur. Subscribe » You're reading Entrepreneur United States, an international franchise of Entrepreneur Media.

From Facebook to LinkedIn to Tinder, much of the power of social networks comes from personal recommendations. Vouch, a direct-to-consumer lending company, is taking this concept a step further, having colleagues and loved ones vouch for borrowers’ credibility. The San Francisco-based company, which calls itself the first social network for credit, launched in April and has raised $9.6 million in funding.

Matthew Reamer
Social loans: Yee Lee of Vouch.

CEO Yee Lee is an engineer and serial entrepreneur who was an early PayPal employee and co-founded fast-growing startups such as Katango, a social algorithm site acquired by Google in its first year. He says his inspiration for Vouch came nearly 10 years ago while at PayPal, where executives were struggling to reconcile discrepancies between individuals’ actual worth and reputation vs. self-reports on their accounts.

Continue Reading With an Entrepreneur Subscription Now 40% Off—Use Code SAVE40

Become a member to get unlimited access and support the voices you want to hear more from. Subscribe to Entrepreneur for just $49/year $29/year.

Not ready for an annual subscription?
Get 3 months free with code ZENDESK

Presented by zendesk

Not ready for an annual subscription? Get 3 months free with code
 ZENDESK