Description
Instacash is a P2P loan marketplace in Peru that connects lenders with borrowers, operating under a collaborative economy model. It allows users to apply for personal loans by guaranteeing them with a variety of assets such as jewelry, appliances, salary advances, invoices, and cryptocurrencies. The company, INSTACASH PERÚ S.A.C., clarifies that it is a technology platform and not a loan company, and therefore is not subject to regulation by the Superintendency of Banking, Insurance and AFPs (SBS) or the Superintendency of the Securities Market (SMV). The platform's goal is to democratize money by creating accessible liquidity opportunities. It also offers a service called Reevalúa, which re-evaluates rejected applications by allowing users to provide a guarantee to secure their loan.