P2P Lending Firm Monexo Fintech To Raise $5 Million in Equity
P2P money lending marketplace Monexo Fintech plans to raise an amount of $5 million in form of equity. The company plans to invest these funds in IT and infrastructure, which require spontaneous capital addition in the initial stages of any online business.
Mukesh Bubna, the founder and CEO of the company said that they are looking for a strategic patient capital. Patient capital means those investments in which investors do not seek quick returns. The company had also received the license from RBI to operate an NBFC-cum-P2P lending platform last Friday.
This type of lending platform allows the people to borrow and lend money without the need of any financial institution as a mediator.
“We have begun talking to investors. With the RBI regulation in place, there is much more positivi...