Are you ready to take on the challenge of creating the next technical platform for microfinance with for minority entrepreneurs in Sweden? FavaFond is offering microloans to foreign-born entrepreneurs starting or expanding a business in Sweden. A category of entrepreneurs that experiences difficulties and barriers to borrowing working capital from banks and traditional credit institutions. We want to solve that problem - with a sustainable business model and value creation.

IT lending platform and IP:

FavaFond will begin the design and digitalization of its lending platform; focusing on the specific needs of its potential clients (minority entrepreneurs/businesses). This platform will be crucial for FavaFond to optimise its “customer acquisition costs” and scale up lending nationally and internationally thereafter. Compliance with GDPR as well as existing consumer protection and anti-money laundry legislation/regulation will be embedded in the design. Enabling the collection and analysis of credit data with the help of a digital platform and AI will let us improve and automatize different parts of the lending process offering better products and supporting more minority entrepreneurs. Our IT lending platform will connect CRM, loan assessment, approval routines and risk mitigation/follow up processes to complementary business development and accounting services offered through FavaFond’s network.

Role and responsibilities:

The main deliverable of this assignment will be the development and launch of the first version of the IT lending Platform in Sweden within a year. We are looking for someone with the ingenuity, drive and capacity to lead that development.

At FavaFond, we work as a team. This assignment will require close collaboration with FavaFond’s founder and a close network of collaborators (advisors and community organizations) to ensure that the platform becomes a smart enabler for financial inclusion, gender equality and economic sustainability. This assignment will include tasks and responsibilities such as:

-          Lead the development of FavaFond’s IT strategy “architecture” behind it’s IT lending platform. 

-          Development and maintenance of FavaFond website (design and/or procuring service).

-          Development of the first operational IT lending platform; connecting FavaFond website to FavaFond’s CRM system as well as loan applications, administration & risk management processes.

-          Coordination and operationalization of data collection and data mining routines within FavaFond and with its collaborators.

-          Other support activities typical of a start-up.

Qualifications for the assignment:

-          Sharing FavaFond’s values and goals for financial inclusion, equality (gender, minorities, etc.), sustainability and integration.

-          Experience as an entrepreneur and/or from the finance industry. International work experience is an advantage.

-          Education and/or experience in web design and programming (developer). Practical knowledge and experience of GDPR rules, AI, machine learning is an advantage.

-          Prior experience developing data collection tools and data management systems that leverage technology, including experience analysing databases and assessing data quality.

-          Being able to source specialists within programming, AI, digitalization, design, finance, etc.

-          Familiarity/experience with the Agenda 2030 (SDGs) and sustainability.

-          Fluent in Swedish and English. Knowledge in Arabic and/or Tigrinya is an advantage.

Work modality:

 The assignment will be carried out the next 12 months.

The chosen candidate will start as an intern for first 3 months (non-remunerated work) and will become a remunerated consultant thereafter. Depending on company results (cash-flow) and synergy within the team, a longer term or more permanent engagement can follow after this assignment; including the possibility of earning equity in the company and becoming part of the founding team.

Come join our mission-driven, energetic and innovative team!  We offer you the opportunity to play a leading role in the beginning of our company, work as part of a creative and committed team, and to make a difference!