Reliance Capital ARM Makes Seed Investment in Alternative Digital Lending Startup Billionloans
Billionloans Financial Services Pvt. Ltd. (“Billionloans”) today announced that it has closed a seed funding round of approx. Rs 7 crore (US$ 1 million) from Reliance Corporate Advisory Services Limited, a wholly-owned subsidiary of Reliance Capital.
Billionloans is a technology-enabled financial services company, focused on providing flexible and affordable financing options to individuals and small businesses that have so far found it difficult to access loans from the traditional banking system to meet their aspirations.
The company was founded by Dr. Rangan Varadan, a serial entrepreneur who has also co-founded MicroGraam, an online micro-lending platform and other professionals with long experience in the finance and IT industry.
Billionloans connects borrowers to lenders dir...