Digital Lending Platform IndiaLends Raises $5.1 Million In Funding
IndiaLends, a Delhi NCR-based digital lending platform, has raised $5.1 million in a financing round led by existing investors ACP Partners and DSG Consumer Partners.
As per the company, it will use the funds to expand its technology platform, increase its market footprint and amplify its product offerings to meet the pent-up demand in a post-COVID economic recovery.
Started by Gaurav Chopra and Mayank Kachhwaha in March 2015, IndiaLends offers instant personal loans.
The firm uses its transparent and highly advanced automated processing system offering unsecured credit products to a customer base of over 8 million through its 50+ bank and NBFC partners across the country.
Talking about the financing round, Gaurav Chopra, Founder of IndiaLends, said,
“This fresh round of financing comes at a critical point in our business, enabling us to build our services and offer innovative products to our customers as we usher into the next phase of growth. The use of new-age technologies and the government’s pro-active efforts to push digitisation is helping this high-potential space to grow and drive greater financial inclusion across the country.”
With a focused outreach towards retail consumers living across Tier-I & II cities and Tier III towns, IndiaLends aims to emerge as the leading financial marketplace in India and double disbursements in the coming 18-24 months.
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