Thursday, April 7, 2016
Lenny Bolsters Advisory Board
Santa Monica-based Lenny, which develops a mobile lending app targeted at millenials, said it has added Paul Spiller, COO and President at Acorns, as an advisory board member. Acorns is a startup offering up microinvestments from users' spare change, which are aggregated to create diversified investment portfolios. Lenny, which is led by Joe Bayen, says it has underwritten 1,000 credit lines for its users in the last three weeks. The company offers up loans of $100 up to $10,000 with average APRs of 7.8%, according to the company.