- Peak Fintech Group’s (PKK) commercial lending platform facilitated its first loans to over 55,000 social media influencers
- The transaction was done through the company’s Cubeler Lending Hub
- Through the first week of January 2021, the Cubeler Lending Hub helped finance events organized by 15 influencers where clothing and accessories worth about C$1 million were sold
- This earned the platform almost $20,000 in service fees
- Peak Fintech is currently down 1.12 per cent to $1.76 per share
Peak Fintech Group’s (PKK) commercial lending platform facilitated its first loans to over 55,000 social media influencers.
The transaction was done through the company’s Cubeler Lending Hub. Peak is a Montreal-based fintech service provider to the Chinese commercial lending sector.
Peak Fintech said it’s managed to develop relationships with some of China’s most popular influencers over the past 10 months as social media influencers have become a powerful sales force in the retail space.
Influencers organize product showcase events broadcast on social media platforms such as TikTok and WeChat to sell everything from cosmetics to household appliances.
Through the first week of January 2021, the Cubeler Lending Hub helped finance events organized by 15 influencers where clothing and accessories worth about C$1 million were sold. This earned the platform almost C$20,000 in service fees.
Peak Fintech plans to continue to work with its network of influencers and their millions of followers to help local and foreign retailers take advantage of the power of social media.
Peak Fintech is currently down 1.12 per cent to $1.76 per share at 12:38pm EST.
