societyone

SocietyOne was an Australian online marketplace that facilitated peer-to-peer lending. Established in 2011, it connected individual borrowers with investors looking to earn returns on their savings. The platform allowed individuals to apply for personal loans, and investors could then browse and fund these loan applications. SocietyOne offered loans for a variety of purposes, including debt consolidation, home renovations, and car purchases.

The company operated under Australian credit licenses and aimed to provide a more competitive alternative to traditional banking institutions. Investors on the platform could earn interest rates typically higher than those offered by major banks on savings accounts, while borrowers often benefited from competitive loan rates. SocietyOne's business model involved taking a percentage of the interest paid on the loans as its revenue.

In 2021, SocietyOne was acquired by Moelis Australia. Following the acquisition, the company was rebranded as Latitude Personal Loans. This transition marked the end of SocietyOne as an independent entity, with its operations and services integrated into Latitude's broader financial offerings. The acquisition aimed to expand Latitude's digital lending capabilities and market reach.