Lenddo (subsequently LenddoEFL) was a Singapore-based software-as-a-service company which used nontraditional data comprising social media and smartphone records in order to ascertain customers' financial stability.

[19] The news article cited Paul L Devine as being actively involved in the internal operations of LenddoEFL as CFO, leading employees to not receive compensation for several months, for vendors not to be paid, and for numerous lay offs including closure of offices in other countries.

By April 2021, continued trouble in the company lead to an internal announcement over email by COO James Hume for LenddoEFL to cease its Verification services by the end of July 2021.

[citation needed] Lenddo's target credit customers are primarily subject to emerging economies, in which financial records are limited, while social data is prevalent.

According to Golden Gate Ventures partner Vinnie Lauria, there are nearly 610 million individuals in Southeast Asia to whom banks are hesitant to lend.

[23] In response, Jeff Stewart defended the use of social media to assess borrowers by stating that the ability to provide financial assistance to people who would otherwise not be served outweighs the possibility of inaccuracy in credit-making decisions.

[23] Lenddo was a winner of a FinTech Startup Award in 2011 and recognized as one of the top 15 global most innovative financial services companies in 2012 at Sibos.