Southeastern Fintech startup Hero (herotoken.io) has announced that it is ready to provide unsecured loan service for poor financial infrastructure in Southeast Asia. Despite the rapid economic growth in Southeast Asia, due to the lack of financial infrastructure, only 27% of the total population has bank accounts and most of the Southeast Asian population has received little financial services.

David Margendorff, Chairman of the Board of Hero, has been providing O2O pawnshop PawnHero service throughout Southeast Asia. With this service, Hero started with a $2 million Pre-Series A investment from 500Startups, and has received large-scale venture investments such as Softbank and Alibaba.

Hero said it now plans to broaden its range to unsecured loan services based on blockchain, leveraging the experience gained in the Southeast Asian market and pre-existing licenses. Hero already has a strong network in Southeast Asia with more than 100,000 partners and suppliers. In addition, they are developing algorithms that will validate unique identities through social media profiles, prior experience, and transaction history, leveraging advanced machine learning techniques, and they are currently developing the algorithms that can solve the problems particularly concerned with credit issuance and risk management.

Now Hero plans to open the pre-sale at the end of this month and planning to open crowd-sale in September.