What is "pawnhero"

PawnHero is the first online pawnshop in Southeast Asia that aims to solve the problem of expensive credit for base-of-the-pyramid consumers in emerging markets. It was first launched in the Philippines in February 2015 to meet the quick loan needs of the country. Recent studies have shown that only two out of 10 Filipinos have bank accounts and less than five percent have credit cards. Unlike traditional brick-and-mortar pawnshops, PawnHero accepts a wide range of pawnable items that include jewelry, luxury goods, electronics, home equipment, and other personal items as collateral for a secured loan.