Boomerang is headquartered in San Francisco, California. It operates a crowd-sourced online payment platform offering affordable credit line options for buyers, substantial savings for merchants and robust yields for individual and institutional investors.
How does a Crowdfunding credit marketplace work?
Boomerang uses technology to operate a credit marketplace at a lower cost than traditional bank loan programs, passing the savings on to borrowers in the form of lower rates and to investors in the form of solid returns. Marketplace lending is the process of connecting non-originator loan investors with borrowers. Technology is a mandatory part of marketplace lending platforms.
Crowdfunding is the practice of raising capital through the collective effort of a large number of people. Traditionally, financing a business, project or venture involved asking a few people for large sums of money. Crowdfunding switches this idea around, using the Internet to talk to thousands of potential funders.
Boomerang brings Borrowers, Merchants, and Investors together
Boomerang's payment platform empowers consumers from all stages of life, and with different credit profiles, to finance goods and services at the online point of sale using a patent-pending, revolving credit line funded by the Crowd, not the banks.
Through the power of pooled private funds, advanced social-scoring, and best practice security technologies, borrowers can expect higher approval levels, more favorable APR's and safer online transactions than those provided by typical credit cards.
What's the future of Boomerang?
Boomerang has an incredible team of industry experts and is now looking forward to transforming the prototype we built into an MVP which will be fully integrated with banks and used by real users. Once it achieves that, the revolving credit revolution will start taking shape.