(MENAFN- EIN Presswire)
Since inception two months ago, the company has completed 15k pre-registrations and $500k in peer loans.
MELBOURNE, AUSTRALIA, October 27, 2022 / / -- As the world is slowly becoming crippled by soaring inflation rates, borrowing costs, and mounting debt, is tackling the cost-of-living crisis with its first and only ID-verified .
Based in sunny Australia, IOUcash is a peer-to-peer lending app that enables individuals to borrow safely from their friends and family. The company's mission is to help everyday people do better with cash by destigmatising the IOU, saving people from running up institutional debt or getting into debt spirals. At its core, IOUcash supports people in moving real money (not Crypto, etc.) between real bank accounts using traditional and secure banking methods, including Direct Debit, PayID, and more.
“We officially launched 8 weeks ago, and we've already been overwhelmed with response to our marketing efforts,” says Head of Customer IOUcash, Matthew Morgan.“We've done 15k pre-registrations and almost half a million dollars of loans between mates already. We are completely humbled by this response and look forward to not only our company's growth, but also helping others to maintain a sense of financial control, during the world's cost of living crisis. People need financial help now, more than ever, and we are here to help.”
IOUcash works by sending a borrowing proposal to a friend directly through the app. In the proposal, the borrower will be able to indicate how much they need, how much time it will take to pay them back, and all of the in-between details. By using IOUcash, misunderstandings about repayments are eliminated and relationships are maintained – making it a win-win borrowing and lending solution for all parties.
Currently, IOUcash is available for download on the Apple App Store and Google Play.
For more information about IOUcash, please visit or on TikTok @iou_cash.
IOUcash is a new way for individuals to get the money they need – safely and quickly with no paperwork and no unnecessary face time with lenders.
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