TradeMe released a newsletter reading
"Harmoney and Trade Me share a common purpose in that we are both all about providing Kiwi consumers with a safe, trusted, scale-able, efficient online platform to undertake a transaction – Trade Me is all about items changing hands, and Harmoney is all about dollars being exchanged.
It's a new way of lending and borrowing that has proved very successful in Australia, the USA and the UK and is just getting started here in New Zealand. Investors loan money directly to borrowers anonymously via an online platform, without having to go through a financial institution like a bank."
The announcement claims that Harmoney is the first licensed peer-to-peer platform in New Zealand and that it will lower the cost of borrowing and increase returns for lenders.