MARLO (short for “Maritime Loans”) was founded by a group of entrepreneurs with backgrounds in shipping, banking and risk management. The idea to create a lending marketplace for maritime was born out of a desire to help small shipping companies raise capital efficiently through technology.
The company was founded by shipping, credit & underwriting experts. The founders needed a software development team that could take the industry expertise of the founders and build a technology solution and customer experience flow that resonated with maritime operators in need of working capital solutions.
On a mission to help MARLO digitize a process that was up until the founding of this company a very hands on & manual process, Transcend helped develop an algorithm that took a traditionally 70% manual / 30% automated process to a 30% manual / 70% automated one.
After working with the founding team, Transcend learned what criteria lenders looked for to deem credit-worthiness and developed a proprietary credit rating system.
Transcend team worked day in and day out with the founders for over 6 months roadmapping, developing and launching an MVP solution. Our product managers & architects were hands on as the team developed / launched their MVP solution and built an offshore development team and product managers.