South African Bank Buying Peer to Peer Lending Platform RainFin

Lebashe Financial Services is increasing its stake in RainFin a South African lender previously backed by Barclays Plc. RainFin, the largest peer to peer lending platform in South Africa, bought back the 49 percent held by Barclays’s South African unit, with Lebashe acquiring its 51 percent stake in February last year. Gaining bigger control of RainFin gives Lebashe the ability to offer banking services via mobile phones and the internet. Source.