Lending Platform Prest Loans Raises $2.5 Million Funding
Delhi based lending platform Prest Loans raises $2.5 Mn (appr. Rs. 16.5 Crore) debt funding from multiple lenders including AU Small Finance Bank, INCRED, MAS Finance, Northern Arc Capital (earlier IFMR) and other who have been with the company from very early stage itself.
The company has seen 10X growth in lending on YoY basis and is on aggressive expansion plan.
Earlier the seed investors of the company infused $100K (Rs. 65 lakh) in equity to further strengthen the technology platform and meet the growing demand of credit.
"The funding is an indication of confidence shown by lenders in our business. We got excellent support from various lenders within the first year of our operations and could raise debt largely due to strength of the business model, processes and technology b...