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Paymate Acquires Lending Platform to Help SMEs

15May By NitishNo Comments

ACQUISITION

Paymate Acquires Lending Platform to Help SMEs

Mumbai- India’s payment startup PayMate announced the acquisition of Z2P (Zaitech Technology Pvt. Ltd.), a digital lending platform which provides hassle-free and real-time credit using social and banking data along with proprietary analytics and AI. The acquisition is expected to be completed by May 2018 and it follows the announcement in February of this year by PayMate of its B2B partnership agreement with Visa. As a result of the acquisition, PayMate acquires an innovative and proven lending solution in Z2P, which when combined with PayMate’s proprietary B2B payments platform will revolutionize the way businesses manage their payment operations, cash flow, and access to growth capital. PayMate plans to partner with banks and NBFCs to improve the flow of credit to SMEs. According to ...

15May By NitishNo Comments

FUNDING

Lending Firm Raises 30 Crore Debt Funding From SBI

Gurugram based fintech platform Aye Finance raises another Rs. 30 crores debt funding from India's leading public sector bank State Bank of India (SBI). Earlier Aye Finance raises Rs 30 crores as debt financing from BlueOrchard Finance Ltd. Also, this is the second time that the SBI has extended a debt facility to Aye to lend more money to micro and small-scale enterprise financing in India. Aye finance is equity funded by three marque investors Accion, SAIF Partners, and LGT. The lending firm is looking to raise additional USD 20-25million by the end of the current quarter. Aye presently provides its service to over 10 states and boasts 72 branches in India so far. In the FY 17-18, it provided over 40,000 loans which were largely thanks to the customization of their pro...

25Apr By NitishNo Comments

FUNDING

Mobile Lending App Raises $50 Million Funding, Will Expand Operation in India

Kenya based Tala, the leading global technology company committed to financial inclusion, will bring its popular consumer lending app to India. The expansion was announced along with a new $50 million Series C funding led by Revolution Growth to scale up the success already in progress. Tala has also recently raised an additional $15 million to power its loan book. The round brings Tala’s total financing to more than $105 million. Founded in 2012 by Shivani Siroya, who grew up in India and the United States has launched Tala in Kenya. Tala is the first smartphone-based lending app in the world. Through its mobile platform, Tala has delivered more than 6 million loans to nearly 1.3 million customers and originated more than $300 million. The popular app is currently number 3 in the...

28Mar By PriyankaNo Comments

FUNDING

Fintech Startup Raises $2 million Pre series A Funding

SmartCoin, a Bengaluru based Fintech startup raises $2 million funding in pre-Series A round from a top Chinese VC fund and Accion Venture Lab. An existing investment group Unicorn India Ventures also participated in the round, along with ISME ACE, a leading fintech accelerator. This funding round will use to expand the team and operation with an aim to cover a much larger customer base. SmartCoin is a mobile app based lending platform, capable of assessing the risk profile of a prospective borrower in real time, using data science and machine learning algorithms. "With this round, we expect to grow the momentum and further scale 10X over the next six to twelve months. Having specialists as investors, who are passionate about micro-lending, on board will only help us cover more g...

13Feb By NitishNo Comments

FUNDING

Lendingkart Raises 565 Crore Equity Funding

Ahemdabad based India's leading fintech platform Lendingkart raises $87 million (565 crore) from Singapore based investment firm Fullerton Financial Holdings. Fullerton Financial Holdings is a subsidiary of Temasek Holdings (Private) Limited. Lensingkart has also signed a MoU (Memorandum of Understanding) with Fullerton India Capital, a fully owned subsidiary of Fullerton Holdings regarding creating potential initiatives to support their respective businesses. Funding So Far- Lendingkart has raised total $173 million (1,129 Crore) funding in debt and equity form. 1) Lendingkart Raises Rs 30 Cr From Dutch Development Bank 2) Lendingkart Raises Rs 25 Cr. In Debt Funding From SBI 3) Lendingkart's NBFC Arm Bags $25M From A Clutch Of Investors 4) Ahemdabad Based Lendingkart Rai...

Looking For a Loan For Your SME or Startup, Try Cash Suvidha

1Feb By NitishNo Comments

Story

Looking For a Loan For Your SME or Startup, Try Cash Suvidha

It would not be an exaggeration to state that the SME sector is one of the most critical contributors to the growth of the Indian economy. In spite of its large size, and the vital role it plays in the country’s economy, the Indian SME sector suffers on account of adequate financial access. Lack of awareness, poor access to banking services, outdated data models, etc, force small businesses to cope with an unhealthy financial environment. As a result, many small businesses either close shop or rely on very expensive and complicated financing, largely from the unorganized lending sector. INCEPTION AND TEAM Started in April 2016 in Delhi, Cash Suvidha has onboarded over 3,500+ borrowers and Ticket size of loan is Rs 10,000/- to upto 3 Lakh. This online lending platform, was sta...

Looking for Alternative Investment Options – Visit i2iFunding.com

16Sep By NitishNo Comments

Story

Looking for Alternative Investment Options – Visit i2iFunding.com

Technological disruptions have not left financial sector out of its impact and India currently has several fintech startups developing out from its cocoon. Fintech startups mostly confined of online payment wallets and now online lending marketplaces. i2ifunding a Peer to Peer platform where an individual can borrow money at a desired rate of interest and an investor can lend to retail borrowers according to their interest rates. While P2P lending is still at a nascent stage in India, it is one of the leading means of financing in countries such as the US, the UK, Germany, China etc. and many p2p players have grown to become Billion dollar companies. It has been growing in leaps and bounds around the world, thanks to an increase in the internet penetration and tremendous acceptability of...

P2P Lending Platform i2ifunding Announces ‘Principal Protection Fund’

5Aug By NitishNo Comments

News

P2P Lending Platform i2ifunding Announces ‘Principal Protection Fund’

i2ifunding.com, leading peer-to-peer lending platform has announced first-of-its-kind investor protection fund, which will allow its investors to enjoy up to 100% protection against loan defaults. Speaking about the announcement of Principal Protection Fund, Vaibhav Pandey, Co-founder and CEO of i2ifunding.com said, "The principal protection fund is a step further in our commitment to build a healthy ecosystem. The investors on our platform now significantly reduce the risk of losing their principal because of a loan default. While we ensure that there are no defaults, even if they do happen, we will share the burden with the investors. With this fund, we have increased our skin in the game." The participation in the 'Principal Protection Fund' is available by default to all investors wh...

20May By AnkitaNo Comments

FUNDING

i2ifunding, Leading Peer-to-Peer Lending Platform Raises Angel Funding

i2ifunding , one of the leading peer to peer lending platforms in India, today announced that the company has secured Angel funding from a group of industry veterans. Company plans to utilize the fund towards technology expansion and also towards increasing its presence geographically. "We are delighted that this distinguished group of investors has chosen to support i2ifunding in our mission to increase financial inclusion in India by helping the borrowers access loans for various needs at lower than market rates and at the same time provide an alternative high return investment option to retail investors," said Vaibhav Pandey, the CEO of the company. "This investment could not have come at a better time as RBI has talked about 2 Cr capital requirement for P2P players in the concept pa...