Armenia Startup Academy graduates: FinAssist

In this column Itel.am presents the fourth batch of Armenia Startup Academy graduates.

FinAssist is an online platform that enables borrowers to apply for multiple financial organizations (banks, credit organizations) simultaneously and receive their customized loan offers in one place, which makes it easier to choose the best one.

The startup was founded by school mates David Mikaelyan and Artak Zargaryan, who have years of experience in finance, project managements, and marketing.

According to Mikaelyan, currently borrowers need to apply personally to financial organizations, wait in queues and answer the same questions at every place in order to make an informed choice, as a result spending substantial amount of time and resources.

“As for the websites of financial organizations, they offer only general information that does not tell the borrowers what conditions their potential agreement with the organization might offer. Our platform solves these issues by enabling the borrowers to apply for a loan from anywhere. Moreover, our services are free of charge for the borrowers,” he said.

David Mikaelyan underlined that the specific feature of the new platform is its automated operation both for borrowers and financial organizations.

The FinAssist team plans to launch to platform with two services, real property and renovation loans, within a year.

The platform will have all types of mortgage covered until the year-end after testing and all required improvements. The team is currently cooperating with Startup Wise Guys accelerator and planning to take part in the fintech accelerator program in Lithuanian this October.

Narine Daneghyan