Sydney-based start-up Andable has launched an ethical shopping marketplace, which in a world first helps fund micro loans to people in the developing world through Kiva.
Small retailers can sell to consumers through the Andable platform at a cost of 5%. Ten per cent of each purchase at point of sale goes to support a small business loan to a person in need abroad, and is repaid to the retailer three months later. Andable is the first e-commerce platform to use Kiva to fund small businesses in the third world.
The site has full Paypal integration. It was developed by Rupal Ismin, formerly a digital planner, with roles at Tongue and Starcom and Melissa Dean, formerly a sales director at NineMSN, in conjunction with Sydney development house Interesting.
Ismin told Mumbrella: “Our goal is to grow. By the end of next year we plan to have 25% of our revenue coming from overseas, and we want to have created 600 Kiva loans,”
The platform currently has stock from NZ, Australia, Germany, Indonesia, US, and Canada in a number of different categories, from food to clothing to art, with the proviso that the goods must fall into the categoriy ‘fresh’ – fair trade, recycled, eco-friendly, support local economies or are handmade.
Melissa Dean, Andable co-founder, said in a press release: “We’re unbelievably excited to launch a global first where profit and social mission are equally important. It’s a win-win for everybody: buyers, sellers and borrowers. The more we grow, the more lives we change. Based on the tremendous support we’ve received from the community, it has made the marketplace vibrant. We know we’ve struck a chord proving that doing good can be good business.”