Company Description:
Global Debt Network (GDN) is the first online marketplace for banks, auto dealers, credit unions and finance companies to list and sell their auto loan portfolios to competing financial institutions.
We launched July 1st 2008 and have over 65 registered buyers and 55 registered sellers. We have over $60MM in prime and sub-prime auto loans listed for sale. We are working to make our platform compatible for marine, RV and motorcycle loan marketplaces and expect completion by the end of 2008.
Our platform is an end-to-end transaction platform that includes a marketplace, an online due diligence room, contract negotiation and escrow funding (using Wells Fargo Escrow). Only whole loan portfolio are transacted (not securities). The GDN secondary marketplace solves the liquidity and transparency needs of the auto loan and future equally illiquid consumer loan marketplaces.
Our experienced management team includes the former chairman from Baidu.com and a former Research Director from Intel Research.
We are raising $500K to $1M to be used for operations, marketing and product development. Please contact me if you would like to learn more.
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