Last Tuesday the investors and MYC4 reached yet another milestone, one that we have been working towards for quite a while. The right hand bar on our website showed that the total crowdfunded amount exceeded €20,000,000. Below you can find the loan to Edison in Uganda that brought us on the other side of the €20 million mark – and one step closer to our mission of improving economic growth and prosperity in Africa.
The demand for loans to small African entrepreneurs is growing rapidly every day and we therefore need not only to improve yet also growing is essential so as to be able to support the demand for funding. Thus, today’s blog post is directed towards YOU, as the Investor on MYC4, in the hope that you will give us some advice as to improve the above mentioned.
Below you will find three challenges that we currently face. Feel free to add other challenges and your comments to one or more of the questions raised.
Liquidity on the platform
This year alone we have had to cancel 440 loans amounting to €348,000 due to lack of funding. We are therefore looking for different ways of attracting new investors, organizations or funds. What do you suggest could be an attractive approach to get more liquidity on the platform? We are, of course, also open for leads if you have any connections that you think could be interesting for MYC4.
Layout and usability
Let’s be honest, the layout on MYC4 has not been updated since 2010 and is in use of a makeover. Together with this, we would also like to look at the usability on MYC4; is it easy to find a loan you want to invest in, and what do you look for? How can we improve the process of finding loans that match your criteria, i.e. how do we make the process more efficient?
It is our ambition to offer you, the Investor, transparency on your Portfolio on MYC4. Lately, we have released new features including:
- Investors personal Portfolio at Risk (and overall Portfolio of Risk)
- Improvement of Auto Bid,
- Social Indicator monitor and
- New Balance Sheet.
Is there other information or tools that you think would prove more useful in order to get a better overview of you account? Do you like the way it is illustrated or would you rather like figures and charts?
We are looking forward to receiving your feedback on the questions raised. Feel free to join in where you think you have something to add. Furthermore, it would be very much appreciated if you could make references to other webpages so as to improve our design and layout. My personal e-mail is firstname.lastname@example.org, and I can be contacted here as well.