Fintech Startups working in unorganized lending sector.

Category : FinTech


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Posted On : 05th, August 2017


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FinTech

Fintech Startups working in unorganized lending sector.

05th, August 2017    -    FinTech

Fintech is a trending sectors and investor’s pet after NaMo’s government’s initiative to deploy Digital India concept and bring digital currency to the mainstream. The push gave birth too many Fintech Startup in the recent days. We can observe the growth of sub sectors in fintech domain i.e. lending space which seen some interests from popular investors and venture capitalists.

 Lets’ have a look at the leaders in the space  


Indifi

Started: 2015

Founders: Alok Mittal, Siddharth Mahanot, Sundeep Sahi

Headquaters - Gurgaon

Funding Raised: $ 20 Mn in two rounds

Funding Partners: Omidyar Network, Elevar Equity, Accel Partners and others

Indifi Technologies operates an online platform connecting small businesses with formal lending institutions. Indifi develops segment-specific credit algorithms to enable credit to small businesses, and manages the full loan lifecycle on behalf of lenders.

Indifi connects small business from four segments (travel agencies, hospitality venues, retailers and ecommerce vendors) with lenders. Along the way the business value-adds by providing underwriting services that leverage its deep understanding of a segment’s supply chain via access to financial data. 


Loan Frame

Started- 2016

Founders: Shailesh Jacob, Akshun Gulati, Rishi Arya

Headquaters: Gurgaon

Funding Raised: $2.5 Mn

Funding Partners: Vedanta Capital, William Campbell & others

Loan Frame Technologies aims to revolutionize small business lending in the subcontinent. The company aims to significantly increase credit penetration by utilizing new ways to originate and assess borrowers by leveraging cutting edge technologies, tools and analytical techniques.

SME-focused online lending platform Loan Frame offers an entire portfolio of products, including secured and unsecured loans ranging from as low as Rs 1 lakh to as high as Rs 50 crore.

Loan Frame currently has over 12,000 registered SMEs on its platform. The startup has also enabled 14 lending partners - including private sector banks and leading NBFCs - to lend to SMEs using its services. 


Capital Floats:

Started: 2013

Founders – Sashank Rishyasringa and Gaurav Hinduja

Headquarters – Bengaluru

Funding Raised – USD 45 Million in NCD’s

Funding Partners – George Soros’s Aspada Investment Co., SAIF Partners, Sequoia Capital

Capital Float is an online platform that provides working capital finance to SMEs in India. We offer flexible, short-term loans that can be used to purchase inventory, service new orders or optimize cash cycles. Borrowers can apply online in minutes, select desired repayment terms and receive funds in their bank accounts in 7 days with minimal hassle.

Capital Float is an online platform that provides working capital finance to SMEs in India.


Lending Kart

Started: 2014

Founders – Harshvardhan Lunia and Mukul Sachan

Headquarters: Ahmedabad

Funding Raised: $54.45 Mn

Funding Partners – Saama Capital, Mayfield Fund, Bertelsmann India Investments (BII), Darrin Capital Management and India Quotient

It provides loans for working capital needs of SME’s which are quick and easy collateral free with minimal paperwork. The company has expanded to 462 cities and disbursed close to 6500 loans. They are targeting to disburse loans close to Rs.1600 crores by the end of this financial year. 



NeoGrowth

Started – 2013

Founder : Founders – Dhruv Khaitan and Piyush Khaitan

Headquarters: Mumbai

Funding Raised: $43.62 Mn

Funding Partners – IIFL Wealth Management Seed Venture Fund, Omidyar Network, Khosla Impact, Aspada Investment Co.

This SME offers business loans to SMEs, business funding for small and medium-sized retailers and online vendors and sellers in India. The company primarily helps in meeting the monetary needs of small businesses selling goods and services to consumers. 


Ziploan

Started- 2015

Founders: Shalabh Singhal, KSHITIJ Puri

Headquarters – Mumbai

Funding Raised – USD 3 Million

Funding Partners – GrowX Venture Management, WATERBRIDGE VENTURES

Ziploan provides unsecured small business loans to SMEs in India with flexible terms and no hidden prepayment charges . The startup typically offers a loan in the range of 1 to 5 lakhs for 12-24 months generally. And the credit assessment process just takes a few minutes compared to the time taken by traditional processes.


India Lends

Year founded – 2015

Founders – Gaurav Chopra, Mayank Kachhwaha

Headquarters – New Delhi

Funding Raised – USD 4 Million in Series A

Funding Partners – American Express Ventures, DSG Consumer Partners

This Fintech platform aims to reorganize the unorganized lending sector in India through its underwriting technologies and techniques. It helps SME and self-employed individuals to get unsecured loans at fair rates of interest easily, and help in boosting their performance.



There are many other player who are creating their own niche market and helping SME and MSMEs to get access to the finance. The total market size of SME is $300 billion and there is a huge gap and opportunity for the existing and new company to capture the market and grow. 



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