{"data":{"type":"company_profile","id":76879,"entity_id":"wefunder:company:76879","attributes":{"canonical_url":"https://wefunder.com/pigeon.loans","generated_at":"2026-06-16T13:47:22Z","updated_at":"2026-06-16T05:02:31Z","entity_ids":{"company":"wefunder:company:76879","slug":"wefunder:company_slug:pigeon.loans"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":false,"privacy_mode":"unlisted","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-16T13:47:22Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-16T05:02:31Z","as_of":"2026-06-16T13:47:22Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-16T05:02:31Z","as_of":"2026-06-16T13:47:22Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-16T13:47:22Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-16T13:47:22Z","confidence":"medium"}}},"company":{"id":76879,"entity_id":"wefunder:company:76879","slug":"pigeon.loans","name":"Pigeon","tagline":"Simplifying Loans Between Friends, Family \u0026 Businesses","elevator_pitch":"Pigeon is the world's leading lending platform dedicated to enabling friends, family, loved ones, businesses, and more to make loans with one another.","story":"Transforming Relationships Through Financial EmpowermentPigeon is the world’s leading platform for creating and managing loans between friends, family, and communities. By simplifying interpersonal lending, we enable users to borrow and lend money confidently, turning financial transactions into opportunities to strengthen relationships.Why Pigeon?The need is clear: $200 billion in informal loans are exchanged in the U.S. every year, with over $1 trillion globally. Yet, the process remains awkward, risky, and poorly managed, often leaving relationships strained. Pigeon changes that by offering a seamless, secure platform for personal lending that prioritizes trust, transparency, and accessibility.Our Story 🧡Born from a personal financial dilemma during the pandemic, Brian, Pigeon’s founder realized there was no easy way to lend or borrow money with loved ones without risking strain on relationships. Determined to solve this, he created Pigeon—a platform designed to handle the delicate balance of money and trust, ensuring both parties feel secure and supported. Today, we’re on a mission to heal financial scars and empower communities worldwide.The Numbers 🧮100,000 users across seven countries.$1.5M+ in monthly transactions, averaging $15,000 per loan.24% MoM revenue growth in 2024, tracking toward $250k ARR.Default rates of just 3%, compared to 13% or more previously in informal lending.Our Impact 🌍Pigeon is more than a fintech tool—it’s a catalyst for positive social change. Whether it’s funding a small business, helping with medical expenses, or supporting education, our platform bridges financial gaps while preserving and even strengthening relationships. Users benefit from:Flexible structured payments.Automated reminders and tracking.Legally binding agreements.Custom repayment schedules and support.How We Make Money 💰Pigeon operates on a sustainable freemium model, with revenue derived from:Subscriptions for premium loans exceeding $5,000 or lasting over 12 months.Transaction fees on in-app payments, including international transfers.Future B2B2C partnerships through white-labeled integrations with financial institutions.We charge our customers a simple $7.99 per month subscription fee for loans that fit our premium criteria \u0026amp; additionally collect up to 3.5% in transaction fees on credit, debit, and international transactions.Why Invest Now? 🚀A Massive Market OpportunityFinances are the leading cause of stress in all forms of relationships - familial, romantic, professional, and more. 78% of Americans live paycheck to paycheck. With 50% of folks unable to afford a $1,000 emergency. With over $200 billion in informal loans annually in the U.S. and a growing demand for secure, interpersonal financial tools, Pigeon is poised to dominate an untapped niche.Exponential Growth PotentialOur team has laid the groundwork for scaling, with:Robust technology capable of handling 20 million users.Expanding partnerships with global platforms like Stripe.A roadmap to integrate advanced fintech tools, such as crypto-powered transactions and underwriting tooling.How We’ll Use the Funds ⚡The funds raised in this round will be strategically deployed to strengthen our foundation and accelerate growth in three critical areas:Extending Our Runway to ProfitabilityWe are committed to achieving sustained profitability. By optimizing our operations and extending our runway, we’ll ensure Pigeon has the time and resources to scale responsibly, solidify our position in the market, and reach critical financial milestones.Enhancing Payment Processing CapabilitiesSeamless payment experiences are at the heart of our platform. We’ll invest in bolstering our payment infrastructure, introducing faster processing, and more diverse payment methods, and reducing transaction fees for users—all while improving reliability and scalability.Expanding into B2B Technology for Revenue MultiplicationTo unlock exponential revenue growth, we will experiment with B2B integrations such as white-labeled lending solutions for financial institutions and partnerships with businesses that could benefit from interpersonal lending frameworks. This expansion aims to create new revenue streams, reduce customer acquisition costs, and set the stage for a successful Series A raise.By focusing on these initiatives, we will ensure Pigeon’s long-term growth, profitability, and ability to make a lasting impact in the fintech ecosystem.Our Vision 🔮We envision a world where financial help flows seamlessly within communities, free of the awkwardness and risk that often accompany interpersonal loans. Pigeon aims to:Become the default platform for interpersonal lending, trusted globally.Expand into retail and institutional partnerships, redefining financial empowerment.Lead the charge in innovative lending solutions, transforming how financial trust is measured.In five years, we hope that Pigeon becomes a unicorn startup, recognized globally as the go-to platform for lending and borrowing money within trusted relationships. With 1 million+ users and billions of dollars in loan volume moved annually, we aim to redefine how people think about interpersonal loans.Our goal is to become synonymous with the concept of borrowing and lending money between friends, family, and communities, creating a world where financial help is simple, secure, and stress-free. By building trust at scale, we’ll empower individuals worldwide to strengthen their relationships while unlocking new opportunities through financial support.This isn’t just about finance \u0026amp; technology; it’s about transforming the way the world connects and catering to the relationships that serve as the backbone of our global economy, one loan at a time.Join Us 💡Invest in Pigeon today and help us reshape the financial future. Together, we can turn everyday loans into powerful tools for connection, trust, and prosperity.Personal Note:Thank you for taking the time to read about us and learn more about the mission we are on. Whether or not you choose to invest, I just want to personally note on behalf of the team that we are grateful for your support and consideration. We've done a lot of good in our 4 years of operation already \u0026amp; we believe there is still a lot more good to do! Supporting each other in our times of need is what we ultimately hope to enable everyone to better be able to do. We'll continue to work night and day to make Pigeon a smarter, easier, and the best place to turn to the next time you need to help or garner support from someone you know and care for in need.The Pigeon Team 🐣Wall of Fame ⭐Check out some of the latest Pigeon news and highlights everyone is buzzing about!ESPN's Andscape Featuring PigeonOur #7 Product of the Day Launch on Product Hunt","location":"Miami, FL","website":"https://www.usepigeon.io","total_amount_raised":150600,"total_investors":188,"is_funded":false,"is_active":false,"quality_score":3,"related_urls":["https://wefunder.com/pigeon.loans","https://www.usepigeon.io"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/76879/xxl_cropped_thumbnail-vid.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/76879/large_cropped_Social-Media-Pigeon_2_.png","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/76879/standard_cropped_thumbnail-vid.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/76879/standard_cropped_thumbnail-vid.jpg"},"links":{"company_url":"https://www.usepigeon.io","linkedin_url":"https://linkedin.com/company/usepigeon","twitter_url":"https://x.com/use_pigeon","facebook_url":"https://facebook.com/usepigeon","instagram_url":"https://instagram.com/usepigeon","youtube_url":"https://youtube.com/@usepigeon","blog_url":"https://www.usepigeon.io/blog"},"highlights":[],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"Y Combinator W22 🥂"},{"index":2,"claim_id":"claim-fact-2","value":"$30,000,000 in Annual Loan Volume"},{"index":3,"claim_id":"claim-fact-3","value":"$150K Annual Recurring Revenue \u0026amp; Growing 24% M-o-M Toward Profitability"},{"index":4,"claim_id":"claim-fact-4","value":"100,000+ Users \u0026amp; Growing"},{"index":5,"claim_id":"claim-fact-5","value":"Forbes 30 u 30 Founding Team"},{"index":6,"claim_id":"claim-fact-6","value":"As seen on CNBC, Yahoo Finance, Wall Street Journal, Motley Fool \u0026amp; Business Insider"}],"team":[{"id":1374692,"entity_id":"wefunder:company_role:1374692","user_entity_id":"wefunder:user:1323866","role":"founder","name":"Brian Bristol","title":"Founder \u0026 CEO","bio":"I once memorized my entire 32-digit library card number.","avatar_url":"http://uploads.wefunder.com/uploads/user/avatar/1323866/large_cropped_Brian_Bristol_New_Headshot.jpg?1732028970","profile_url":"https://wefunder.com/brianbristol2","linkedin_url":"https://www.linkedin.com/in/brianbristol~tech/","related_urls":["https://wefunder.com/brianbristol2"]}],"featured_investors":[{"id":10347,"entity_id":"wefunder:company_investor_profile:10347","investor_profile_id":3633762,"investor_profile_entity_id":"wefunder:investor_profile:3633762","subject_entity_id":"wefunder:notable_investor:7250","name":"Y Combinator","role_title":"","bio":"Startup accelerator and VC firm that's launched over 4,000 companies, including Airbnb, Coinbase, DoorDash, Dropbox, Instacart, Reddit, and Stripe","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MzAyMDQsInB1ciI6ImJsb2JfaWQifX0=--ce146950df5e17ddfae9d1e026b4fb87dd2bc7ab/1200px-Y_Combinator_logo.svg.png","profile_url":"https://wefunder.com/ycombinator","endorsement_name":"","investment_total":500000,"investment_info":"Invested $500,000 this round","is_lead_investor":false,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/ycombinator"]},{"id":10348,"entity_id":"wefunder:company_investor_profile:10348","investor_profile_id":3634331,"investor_profile_entity_id":"wefunder:investor_profile:3634331","subject_entity_id":"wefunder:notable_investor:1968","name":"Kleiner Perkins","role_title":"","bio":"Kleiner Perkins is a storied venture firm that backs bold founders across early and growth stages. 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If you haven't heard, Pigeon has done amazing things since the early days (just last year!) for this Wefunder raise. They've since gone through YCombinator and just closed, in private rounds, a significant seed raise. The valuation can't be shared publicly but I can tell you that you will not be disappointed. Pigeon Loans is on track to be a high-paced fintech. Here's a recent post on LinkedIn, check it out. I don't know why the image of the Pigeon in that link looks to be celebrating a hefty 420 puff (what's that a red reefer? those eyes!). Enjoy. 🚀🚀 https://www.linkedin.com/posts/pigeon-loans_thought-yesterdays-25m-funding-announcement-activity-6933503653928468481-u2_c?utm_source=linkedin_share\u0026amp;utm_medium=member_desktop_web","author_name":"Patrick Spaulding Ryan, PhD","votes":2,"created_at":"2022-05-20T20:31:22Z","canonical_url":"https://wefunder.com/pigeon.loans#question-205844","answers":[]},{"id":135630,"entity_id":"wefunder:comment:135630","question":"Very exciting business model! Just curious, are lenders able to determine the frequency of compounding on the interest rate on the loan?","author_name":"Duke Duncan","votes":2,"created_at":"2021-03-18T00:23:18Z","canonical_url":"https://wefunder.com/pigeon.loans#question-135630","answers":[{"id":135665,"entity_id":"wefunder:comment:135665","answer":"At this point in time, we only allow loans to exist using the Simple Interest formula (no compounding involved). We have chosen this route because it is the easiest to understand for all parties and simple interest can be pre-calculated into the loan regardless of when the Borrower decides to make repayments. Our market research has shown that more than 90% of loans tend not to include any interest rate at all, regardless of the formula we chose, so transparency and comfort are the biggest driving forces for our users.","author_name":"Brian Bristol","votes":4,"created_at":"2021-03-18T02:14:39Z"}]},{"id":135462,"entity_id":"wefunder:comment:135462","question":"Brian, this is a HUGE idea, and I love it!! Great work thus far. I have two questions: 1) Does the lender get to collect interest on the loan, and if so, who sets the rate? 2) Will Pigeon Loans report to the three major credit bureaus--especially in the case of defaults?","author_name":"D. William Zero","votes":2,"created_at":"2021-03-17T14:23:36Z","canonical_url":"https://wefunder.com/pigeon.loans#question-135462","answers":[{"id":135596,"entity_id":"wefunder:comment:135596","answer":"It's great to hear your passion and energy for Pigeon Loans! Your questions are great insights into our business, so let me answer them for you. 1) Lenders do get to collect interest on their loan. Prior to starting and signing a loan, Lenders and Borrowers are given the opportunity to negotiate the terms of their agreement. In this negotiation period, Lenders can ask for an interest rate anywhere from 0% to 99%. Once the respective Borrower of that loan has agreed to a mutually beneficial interest rate, that rate will be pre-calculated and included into the loan. The Lender will then collect interest on all future repayments from said Borrower. 2) The verdict on the credit reporting matter is very much up for discussion. We have had multiple conversations with all 3 credit bureaus about getting Pigeon Loans integrated into the US credit score ecosystem, but we have run into hurdles. Ultimately, because Pigeon Loans does not serve as a party within our loans, and we are not the ones distributing credit, we have, and will continue to face an uphill battle in getting approved for data reporting. However, I believe that as Pigeon Loans becomes bigger and a much more recognizable name, the sheer amount of customer data pertaining to loans flowing through our ecosystem may force the US credit bureaus to make an exception for us (data is their gold, and we will have a lot of it). So in summary, we are working on turning this idea into a reality, but it is a multi-year battle which we aim to see through until the very end.","author_name":"Brian Bristol","votes":4,"created_at":"2021-03-17T21:38:44Z"}]},{"id":136974,"entity_id":"wefunder:comment:136974","question":"What's the max raise amount?","author_name":"Leonardo Lee","votes":1,"created_at":"2021-03-22T20:39:47Z","canonical_url":"https://wefunder.com/pigeon.loans#question-136974","answers":[{"id":137006,"entity_id":"wefunder:comment:137006","answer":"Our first fundraising goal is $50,000 which we are quickly approaching. After reaching that mark we will be opening up the round further with the next cap being $110,000. Upon reaching $110,000 we will closely examine our raise and decide whether or not to close this round (a 5-7 day window notice will be given prior to any closing). If however, we determine we would like to allocate more equity to this crowdfunding campaign, we will then increase the limit to a final $468,000.","author_name":"Brian Bristol","votes":2,"created_at":"2021-03-22T21:29:56Z"}]},{"id":135905,"entity_id":"wefunder:comment:135905","question":"Will your solution offer the ability or option for borrowers to have automatic periodic withdrawals in order to make recurring payments on a loan?","author_name":"Duke Duncan","votes":1,"created_at":"2021-03-18T23:19:35Z","canonical_url":"https://wefunder.com/pigeon.loans#question-135905","answers":[{"id":136004,"entity_id":"wefunder:comment:136004","answer":"Yes, currently if you make a loan with Pigeon Loans, as a Borrower you can schedule automatic payments by using our AutoPay feature (which is live \u0026amp; available by the way). This feature schedules and initiates a monthly withdrawal from whichever bank account you connect to your Pigeon Loans account.","author_name":"Brian Bristol","votes":3,"created_at":"2021-03-19T05:29:50Z"}]},{"id":135597,"entity_id":"wefunder:comment:135597","question":"Is this a test the water campaign? I don’t see form C or disclosures?","author_name":"Tawana Rivers","votes":1,"created_at":"2021-03-17T21:41:35Z","canonical_url":"https://wefunder.com/pigeon.loans#question-135597","answers":[{"id":135610,"entity_id":"wefunder:comment:135610","answer":"Hi Tawana, We are currently in the \"testing the water\" phase of our campaign. All documentation and filing procedures are ready to go for our Form C, and that will be filed and disclosed once we hit the $50,000 mark.","author_name":"Brian Bristol","votes":2,"created_at":"2021-03-17T22:32:31Z"}]},{"id":299257,"entity_id":"wefunder:comment:299257","question":"Any end of year updates you can share?","author_name":"Zachary Pember","votes":0,"created_at":"2025-01-01T23:31:19Z","canonical_url":"https://wefunder.com/pigeon.loans#question-299257","answers":[{"id":301219,"entity_id":"wefunder:comment:301219","answer":"Hey Zach, please check your WeFunder or email inbox for the latest Q1 2025 update (sent out on January 29, 2025) that recaps all of 2024 - thank you!","author_name":"Brian Bristol","votes":0,"created_at":"2025-01-30T06:19:38Z"}]},{"id":171549,"entity_id":"wefunder:comment:171549","question":"Hi, when I try to invest in the wefunder mobile app the invest button is taking to a 404 not found page. Can you help fix it before close to be able to invest?","author_name":"Kapeesh Bhaghavathula","votes":0,"created_at":"2021-09-28T19:47:56Z","canonical_url":"https://wefunder.com/pigeon.loans#question-171549","answers":[{"id":171949,"entity_id":"wefunder:comment:171949","answer":"Hey Kapeesh, Just wanted to confirm that I saw your investment come through successfully. Welcome to our flock and happy to have you on board!","author_name":"Brian Bristol","votes":0,"created_at":"2021-09-30T20:50:34Z"}]},{"id":160514,"entity_id":"wefunder:comment:160514","question":"I feel like your service has a lot of potential to do fantastic thing! I'm both an investor and customer pigeon loans. Keep up the good work. Today I placed a loan through the platform for $22,200. My question is do you believe large loans in the amount of 50K to 100k will be allowed in the near future?","author_name":"Aaron Daniel Pushkin Chandler","votes":0,"created_at":"2021-07-30T05:05:22Z","canonical_url":"https://wefunder.com/pigeon.loans#question-160514","answers":[{"id":160515,"entity_id":"wefunder:comment:160515","answer":"Thanks for being both an investor and customer in Pigeon Loans, that's exciting for us to hear! Yes, in the future we plan to increase the Principal limit. Right now we have it set at $25,000 as that is the maximum amount of money you can move at one time via the US ACH payment system. However, due to numerous customer asks, and people having the ability to make payments outside of our platform via Freebird Payments, we believe soon will be the right time to increase our Principal limit to 100K. Look out for that increase in Q4 2021!","author_name":"Brian Bristol","votes":0,"created_at":"2021-07-30T05:31:01Z"}]},{"id":158025,"entity_id":"wefunder:comment:158025","question":"Hi Brian, I really like the idea for this. As someone with a lot of credit and lending exposure I really like how simple you have made the platform and you have a very clear use case. I just had a couple of questions about on how to think about expanding the business: 1. From a revenue generation standpoint you have outlined cash generation from monthly subscription cost, loan fees for notional amounts over $3000, and potentially one-off charges. a. Can you provide a % breakdown on loan amount by quartile (as in the median 50% of loans are x amount of $) as well as the % breakdown by quartile of loan duration? I guess what I am trying to get at is how efficiently are you generating cash based on your fee structure. Just speculating here, but it seems like you have a lower average loan balance and short loan life which may not be great for revenue generation. 2. Is there anything proprietary either from an API perspective or otherwise? a. Is it possible to have Pigeon Loan exist as a platform for other businesses? For example, you could provide a subscription service to a Microfinance place like Kiva where all you provide is the loan processing platform and allow an enterprise customer to customize the front end to their specifications? 3. Your current product is effectively a vanilla term loan structure (which for what you are targeting I think is effective), have you considered a modestly more sophisticated option like a revolving credit facility option? The lender would basically serve as a credit card to the obligor, PL provides the platform and or escrow, and you could create a different pricing model for the RCF which would serve a working capital type use case (think seasonal cashflow needs funded by friends and family). 4. Can you explain your P\u0026amp;L a bit, you say ~$1.03 of revenue to ~$1.00 of cost, i.e $.03 of profit, which seems tight. Thinking about all of the front end services needed (Stripe for example) are you passing along the processing fee cost upfront to the customer (likely the borrower in this case)? If you aren’t, why not? 5. When is the $4.29 subscription fee for the borrower paid in the loan life? At the beginning of the month or the end? Is it possible to have a loan that generates no revenue for you? 6. Can you provide an update on the team? How many of you are there now? Do you plan to grow the team? What expertise (excluding advisors) are you missing? Sorry for the interrogation but really like what you guys are doing and good luck!","author_name":"Evan Harris","votes":0,"created_at":"2021-07-14T16:03:35Z","canonical_url":"https://wefunder.com/pigeon.loans#question-158025","answers":[{"id":158703,"entity_id":"wefunder:comment:158703","answer":"Hi Evan, Thanks for reaching out and providing such insightful questions. I'd love to answer some of these aspects regarding our business and I'm more than happy to showcase a view into our underlying numbers. 1. Loan amounts vary widely depending on when they are made and use case. For example, in the early days of Pigeon Loans we were seeing a lot of loan activity come in revolving around the monetary amounts of the U.S. Stimulus checks ($600, $1400, etc.). Upon having loans made with those Principal amounts, we then observed a trend of our users beginning to make larger loans as the summer months approached (a need to cover increased small business expenses, monetary funds for a large purchase such as a home). So in our existence thus far, we've noted and believe the amount transacted in each one of our loans will be volatile and dependent on quite a few \"immeasurables\" such as world economic conditions. a. As of July 2021, our average loan size is ~ $2,400 with an average term length of 19 months. We won't go into details on the amount of money we are generating from each one of these loans as that is outside of the scope of this conversation, however I will let you know that we currently generate ~$34 per month / per loan in revenue holistically speaking. 2. Lol, we obviously can't discuss the proprietary natures of our business publicly, that would defeat the whole purpose of it being 'proprietary'. a. You've brought up a very insightful comment regarding the ability for us to service the structure and technology surrounding loans for other companies like a Kiva, Venmo, or perhaps a crypto-enabled product. I cannot comment on this reality specifically, but we are currently in talks to license our underlying technology for the very purpose you noted to a company within the International Payments space. So certainly plug into our network, click the \"Watch For Updates\" button, follow us on Medium, or simply create a PL account, and you'll be the first to hear of these partnership(s) when they are made public. 3. There are a lot of financial, legal, and relationship implications with the feature you've just suggested. This would not be an easy feature to provide our users. At the moment we are not considering a more complex loan structure such as the one you've noted. We pride ourselves on being simple like you've noted, and our customers appreciate this fact. We also take our user feedback and experience very seriously, so to support that aspiration, we will only ever act in the best interest of our customers. In the event that our users request such a capability in the future, we will re-evaluate and act accordingly. 4. The figure you quoted ($1.03 is made for every $1.00 spent) is solely focused on numbers we can project from our user subscription fee. This statistic does not take into account additional revenue we receive from payment processing, macro loan fees, extension fees, international fees, etc., as they are too variable to estimate accurately, so in summary that projection is a 'worst-case' assumption. Internal processing fees are covered by our users in the event they make a payment that enables such. For example, we charge a 3% fee if a user wanted to make a repayment online using their credit card. This fee would cover our subsequent Stripe charge, allowing us to break even on such a transaction. From a revenue perspective, the future of Pigeon Loans will be much different than it's current state. We plan to accumulate revenue not only from our subscription model \u0026amp; payment portal, but also from our technology licensing (alluded to in question #2), B2B contracts (recommending our users to existing financial products), and content production (written, video, and audio). So our financials and models will only get better and more lucrative over time. 5. The moment at which a loan is agreed upon, signed, and started, we begin the withdrawal process for our $4.29 subscription fee. No loan on our platform can start without that fee first being withdrawn. We will always receive a form of revenue from every single loan made on our platform. 6. Our team section included in the \"Overview\" of our campaign is up to date with our latest PL family. We are a very distributed team, with contributors all over the world - Ireland, England, California, etc., so feel free to look up any of the names you come across to learn more about the minds behind Pigeon Loans. Our team will grow as Pigeon Loans grows, we have plans to hire and fill for needs as they arise. We just recently brought on the voice for our upcoming podcast, so be on the look out for his inclusion into what we are building as well. Hopefully this answers all of your questions in their entirety. We are stoked to have you as part of our community, and looking forward to your continued support and advocation for Pigeon Loans!","author_name":"Brian Bristol","votes":1,"created_at":"2021-07-18T17:52:33Z"}]},{"id":148238,"entity_id":"wefunder:comment:148238","question":"Although loans (especially between friends and family) come with a high degree of risk - be it financial or emotional, this business serves a purpose that a lot of people do need. I have been an investor and lender in p2p lending since Prosper Marketplace in 2007 (seems like eons ago) and through the ups and downs of multiple p2p lending services (there were even, historically, sites that attempted to do what you're doing here, with less history and back at a time where there were fewer ways to sign/track and electronically make and track payments) I've learned a ton about the market as well as what happens in good times as well as bad. The interesting part of this is that people will ALWAYS need loans! I am curious to know what you have up your sleeve planned as far as marketing, when inevitably there is bad press related to poor performing loans, relationships turned sour, families broken, that sadly will just come with the territory, competing for news space with the positive examples? I love this idea, as it is a net improvement on more established platforms and ones that previously failed, so I'm curious to learn as much as I can about your offering.","author_name":"T B","votes":0,"created_at":"2021-05-10T20:13:13Z","canonical_url":"https://wefunder.com/pigeon.loans#question-148238","answers":[{"id":148355,"entity_id":"wefunder:comment:148355","answer":"So far our marketing efforts have been quite successful! We have broken down our marketing strategy into 3 buckets: Digital Advertising, Search Engine Optimization, and Content Marketing. Digital Advertising: This is the route we started off with upon building and launching Pigeon Loans. We needed to prove that Pigeon Loans as a concept was powerful enough for people to be interested in and actually spoke to the problems that many people are facing. In doing so we have found success on Facebook and Quora, marketing our brand, mission, goals, and aspirations to the people most likely to resonate with our company. To give you some insight there, our average User Acquisition cost on these digital platforms hovers around $3-$6 (SaaS average \u0026gt;$10-$13) depending on if we are talking to people more likely to be Borrowers vs. Lenders. We will continue with our Digital Advertising strategy going forward as a viable means of ‘paid growth’, and this strategy will co-exist beautifully with the below strategies geared more so towards ‘organic growth’. Search Engine Optimization: If you search online for any type of loan inquiry right now (Google, Bing, Yahoo), specifically about friends and family loans, you will see that numerous “self-help” or “news” articles pop up regarding the topic. As you have noted, there does exist a general negative connotation about loans with people you know (pervasive more so in the Western Culture than others) and it is reflected in some of these search results. Since we have already cracked the code behind Digital Advertising, our next step is to become the #1 resource for any search inquiries regarding anything in the interpersonal loan space. In the future if you search “how do I get my money back from a friend” - Pigeon Loans should be there; if you search “should I seek interest on a loan with my family” - Pigeon Loans should be there. We have already started the work and will be working heavily over the next year to boost our content, website, web application, and anything else Pigeon Loans related to the top of all search rankings pertinent to our industry. We believe this feat is likely to happen in our favor simply because the competition for keywords and search engine ranking in our space is not very competitive at all. As long as we are smart, produce enriching content, and build the technical sides of our platform to be SEO optimized, then we will achieve this marketing goal as well. Content Marketing: This will be our secret sauce, and this is where we will succeed where others have failed. As I mentioned prior, a lot of content pops up when you search “how do I make a loan with [x..y..z]?”. Whether it be written or auditory, people flock to good content, and the Internet is severely lacking on quality content related to interpersonal loans and our industry alike. To give you an example of the direction we want to go with our Content Marketing strategy, think about the successes of NerdWallet, Mint (before acquisition), Credit Karma, Motley Fool, and others. In combining the capabilities of our existing platform (i.e., the ability to use a web application to make a loan), with various arms of content such as personal stories about positive experiences of people making loans, financial education on the intricacies of the loan world, guides on best practices, or even a series of funny anecdotes about loans gone wrong and how Pigeon Loans could have helped, are all ideas we plan to execute on over the next year. Ultimately these 3 buckets of marketing will turn Pigeon Loans into a world class brand as opposed to just being a tool or service. We have already started moving forward with our future plans, so there is a lot of excitement and anticipation regarding the future of our company. Hopefully these aspirations excite you as well, and I’m excited to have you on board this journey of ours!","author_name":"Brian Bristol","votes":2,"created_at":"2021-05-11T16:02:49Z"}]},{"id":142244,"entity_id":"wefunder:comment:142244","question":"great idea. It's like Lending Club but, you know the borower. I have a few questions: 1) who manages collections and, what happens when a loan goes in arrears? 2) are lenders subject to usury laws? 3) being in the US, can i send a loan to Italy or Australia? can i choose the currency to except? 4) what are your opinions on using crypto's for payment? 5) can you write collateral into the loans? 6) Is the revenue model subscription based? if so, why? it seems to me that these types of loans would be one off vs. continous.","author_name":"Jasper Gallo","votes":0,"created_at":"2021-04-15T15:40:45Z","canonical_url":"https://wefunder.com/pigeon.loans#question-142244","answers":[{"id":142349,"entity_id":"wefunder:comment:142349","answer":"Hey Jasper, you are certainly a thinker, I love it! Let me address your questions below: 1. Our service is meant to guide Lenders and Borrowers throughout the entire loan process form beginning to end. Right now, we provide Lenders with a downloadable PDF of their signed promissory note, which can independently be used in a small claims court (if you are in the U.S. for example) or be given to an independent collections agency to seek retributions. We currently do not partner with any collections agencies and leave the onus on the Lender to seek out one that they prefer to work with. As you have seen in our Pitch Deck and slide regarding our Revenue Model, this reality may change in the future; we may begin to partner with collections agencies we believe are ethical, moral, and good-natured institutions looking to help out everyday people. 2. Lenders on our platform can only be individuals. We made this decision specifically to avoid usury laws in the US that are often imposed upon institutions and businesses. In regards to usury for specific states or jurisdictions, it is up to the Lender of any loan to determine whether or not individuals can be subject to usury requirements. As an institution, we do not credit ourselves to facilitate loans nor serve as a financial institution, so Pigeon Loans the entity is not subject to usury restrictions. Along with this fact, we have observed in our own data as well as our competitors that more than 93% of all loans made amongst friends, family, and loved ones have an interest rate between 0% -\u0026gt; 7%, well below most all usury laws in the United States. People make ethical choices when given the opportunity to do so, and we have covered in our Terms of Service a strict prohibition of any predatory lending practices which usury laws aim to fix. 3. Yes, you can! Whether or not you want to send payments via our online payment portal or simply make payments using your own means and track it via what's called a Freebird Payment, you can do so on our platform. The jurisdiction of said loan will always be in the country of the Lender for international loans. The currency is exchanged behind the scenes, and therefore you cannot choose which currency you withdraw in. The bank account linked to your Pigeon Loans account determines what currency your money is withdrawn in. We take care of all the complicated exchange rates and hassle for you, but additional fees are involved with international transactions. 4. I love the way you think. Crypto for payment in Pigeon Loans is a personal dream of mine. However as you know, crypto is an ever-changing space, with various laws, taxes, and new regulations. I am already actively brainstorming how to incorporate USDC or Nano perhaps into Pigeon Loans, but we plan to formally explore this space and potentiality in Q4 2021 and if all goes well, look for beta launches of crypto transactions sometime in 2022. 5. No, all of our loans are unsecured. We made this decision to keep all transactions and legalities simple and easy to understand for all parties involved. 6. Our revenue model is Subscription based as we all fee based. Definitely take a look at the sections in our Overview entitled, \"Our Execution\" and \"Our Results\". In those sections you will find all of the details as to how Pigeon Loans makes money while also supporting our community. You are correct in assuming loans are often \"one-off\" transactions. However, you need to understand the market a bit more to truly see why a Subscription based model is the way to go for our industry. We know that the average person tends to make 1-2 loans per calendar year. We also know that the average loan for an individual tends to last 3-6 months in terms of length of repayment. For each of those loans and each of those months, Pigeon Loans collects revenue. This model is actually utilized by some of our closest competitors as well, and they have demonstrated that this model works, and works very well. Our competitors have generated tens of millions in revenue based off of this model alone, and we have also done our projections based upon the market data that we know. So for a 6 month loan, made only 2 times per year, Pigeon Loans will collect ~$4 * 12 throughout the year + any additional revenue in fees as a result of transactions made on our payment portal. It's a very dangerous and extremely lucrative model when you think deeper about its potential (i.e., longer loans, higher principals, customer loyalty).","author_name":"Brian Bristol","votes":2,"created_at":"2021-04-15T20:19:17Z"}]},{"id":140964,"entity_id":"wefunder:comment:140964","question":"Is the model only 1-to-1 loans? Thoughts on many (friends and family) to 1?","author_name":"Freed VC","votes":0,"created_at":"2021-04-10T15:51:02Z","canonical_url":"https://wefunder.com/pigeon.loans#question-140964","answers":[{"id":141071,"entity_id":"wefunder:comment:141071","answer":"The current version of Pigeon Loans is a 1-to-1 model. From observations pertaining to our own data, as well as informed market research, we have found that oftentimes a person who is likely to be a Lender has many people asking them for money but the reverse is rarely true. People in need of money, Borrowers in our circumstance, tend not to have many people willing to lend them money and are often in search of just one willing benefactor. Due to this unbalanced relationship, we feel as though a Many-to-1 feature would rarely be utilized within Pigeon Loans. Along with this reality, the scalability, economics, and legalities on such a structure are a cause for concern when thinking about this model holistically. In the future we may experiment with a trial run or experiment with the Many-to-1 model, but for now such an expectation is not on our immediate roadmap. If you want to find an innovative spin on the Many-to-1 model you are alluding to, check out Esusu. They have an arm called Esusu Savings, which operates a version of the Many-to-1 opportunity. However, I fear Esusu has abandoned this business model (due to the fear \u0026amp; realities I mentioned above) as of recent, and are now instead focused on a new initiative called Esusu Rent. Check them out if you are curious and want to delve deeper into the thoughts I have mentioned.","author_name":"Brian Bristol","votes":0,"created_at":"2021-04-10T22:02:11Z"}]},{"id":139690,"entity_id":"wefunder:comment:139690","question":"Brian, Congrats on the business idea. What are the ways you have planned to generate revenue in this business model?","author_name":"Karthikeyan Kuppusamy","votes":0,"created_at":"2021-04-03T18:57:51Z","canonical_url":"https://wefunder.com/pigeon.loans#question-139690","answers":[{"id":139702,"entity_id":"wefunder:comment:139702","answer":"Definitely take a look at the sections in our Overview entitled, \"Our Execution\" and \"Our Results\". In those sections you will find all of the details as to how Pigeon Loans makes money while also supporting our community! To summarize, we have multiple revenue streams. First, we collect revenue based off of Borrower accounts on a small subscription fee basis. Second, we also collect revenue from specific payment types made online within our platform. Finally, we are always exploring new ways to add to the existing revenue model, perhaps via donations, cryptocurrency integrations, corporate partnerships, or new features. Thanks for taking the time to learn about us and for supporting our mission!","author_name":"Brian Bristol","votes":0,"created_at":"2021-04-03T20:54:37Z"}]},{"id":139374,"entity_id":"wefunder:comment:139374","question":"How can I fund my account?","author_name":"Allen Wright","votes":0,"created_at":"2021-04-01T19:37:58Z","canonical_url":"https://wefunder.com/pigeon.loans#question-139374","answers":[{"id":139399,"entity_id":"wefunder:comment:139399","answer":"The best way to get support on account specific issues is to reach out to support@wefunder.com You should be able to fund your account in numerous ways. You can pay using a bank transfer, check, credit card, or wire transfer. There is also the option to add money to your Wefunder Cash (wefunder.com/cash) and contribute to our campaign that way. Regardless, thanks for taking the time to learn more about us. We are excited to have you supporting us and looking forward to growing together!","author_name":"Brian Bristol","votes":1,"created_at":"2021-04-01T21:09:37Z"}]},{"id":137480,"entity_id":"wefunder:comment:137480","question":"How does it feel to hit your $50K goal? Wow! What a HUGE accomplishment, Brian.","author_name":"Jennifer Gallagher","votes":0,"created_at":"2021-03-24T17:35:08Z","canonical_url":"https://wefunder.com/pigeon.loans#question-137480","answers":[{"id":137506,"entity_id":"wefunder:comment:137506","answer":"Feels great, we did it in only 9 days! Next goal is $110k!","author_name":"Brian Bristol","votes":2,"created_at":"2021-03-24T19:20:57Z"}]},{"id":135323,"entity_id":"wefunder:comment:135323","question":"Where is the link to your Form C?","author_name":"David Macario","votes":0,"created_at":"2021-03-17T03:12:28Z","canonical_url":"https://wefunder.com/pigeon.loans#question-135323","answers":[{"id":135355,"entity_id":"wefunder:comment:135355","answer":"As per the new SEC regulations that went into effect on March 15, 2021, equity crowdfunding platforms, such as WeFunder, now allow us along with other companies on their platform(s) to raise up to $50,000 without filing a Form C. Upon reaching the $50,000 mark, we will file our Form C.","author_name":"Brian Bristol","votes":2,"created_at":"2021-03-17T04:47:25Z"}]},{"id":135009,"entity_id":"wefunder:comment:135009","question":"Are you developing this into an app for mobile phone?","author_name":"Matthew Bristol","votes":0,"created_at":"2021-03-15T21:16:41Z","canonical_url":"https://wefunder.com/pigeon.loans#question-135009","answers":[{"id":135024,"entity_id":"wefunder:comment:135024","answer":"Yes, we have plans to create a mobile app for Pigeon Loans in the future. The goal for the next year or so will be to focus on the web experience first, and continue to optimize our platform for mobile viewing. However, once we have solidified significant market presence in our industry, we will begin development of an iOS and Android application. We estimate that development will start for a Pigeon Loans app in Q2 / Q3 2022.","author_name":"Brian Bristol","votes":3,"created_at":"2021-03-15T22:10:55Z"}]}],"faq":[{"question":"Are you developing this into an app for mobile phone?","answer":"Yes, we have plans to create a mobile app for Pigeon Loans in the future. The goal for the next year or so will be to focus on the web experience first, and continue to optimize our platform for mobile viewing. However, once we have solidified significant market presence in our industry, we will begin development of an iOS and Android application. We estimate that development will start for a Pigeon Loans app in Q2 / Q3 2022."},{"question":"Where is the link to your Form C?","answer":"As per the new SEC regulations that went into effect on March 15, 2021, equity crowdfunding platforms, such as WeFunder, now allow us along with other companies on their platform(s) to raise up to $50,000 without filing a Form C. Upon reaching the $50,000 mark, we will file our Form C."},{"question":"Brian, this is a HUGE idea, and I love it!! Great work thus far. I have two questions: 1) Does the lender get to collect interest on the loan, and if so, who sets the rate? 2) Will Pigeon Loans report to the three major credit bureaus--especially in the case of defaults?","answer":"It's great to hear your passion and energy for Pigeon Loans! Your questions are great insights into our business, so let me answer them for you. 1) Lenders do get to collect interest on their loan. Prior to starting and signing a loan, Lenders and Borrowers are given the opportunity to negotiate the terms of their agreement. In this negotiation period, Lenders can ask for an interest rate anywhere from 0% to 99%. Once the respective Borrower of that loan has agreed to a mutually beneficial in..."},{"question":"Is this a test the water campaign? I don’t see form C or disclosures?","answer":"Hi Tawana, We are currently in the \"testing the water\" phase of our campaign. All documentation and filing procedures are ready to go for our Form C, and that will be filed and disclosed once we hit the $50,000 mark."},{"question":"Very exciting business model! Just curious, are lenders able to determine the frequency of compounding on the interest rate on the loan?","answer":"At this point in time, we only allow loans to exist using the Simple Interest formula (no compounding involved). We have chosen this route because it is the easiest to understand for all parties and simple interest can be pre-calculated into the loan regardless of when the Borrower decides to make repayments. Our market research has shown that more than 90% of loans tend not to include any interest rate at all, regardless of the formula we chose, so transparency and comfort are the biggest dr..."}]}}}