The fintech space has seen a massive boom in the past few years. The Boston Consulting Group revealed that this “space” is only going to get bigger and better. If you are searching for a future in peer to peer lending in India, now might be the best time. Mainly because you have so many options, possibilities, and benefits to leverage.
A major reason behind this would be “Digital India”. This is a concept that has gained utmost popularity in recent times. This initiative has created many fascinating opportunities for entrepreneurs in the country. And, it wouldn’t be an exaggeration if someone told that the conditions are only going to get better.
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With this being said, here are few interesting p2p lending apps for you to consider.
Let’s get started.
List of Top 6 Peer to Peer Lending Apps in India
The talk about peer to peer lending India remains incomplete without Lendbox. This platform is a pioneer in the industry. Headquartered in New Delhi, this company is RBI certified and has more than 200,000 registered borrowers. The brand was put together by a team of talented, and energetic professionals who were passionate in different niche industries. Yet, their main aim was to revolutionize the loan industry of the country.
Faircent was founded by an entrepreneur from Gujarat. The platform was founded in the year 2013. According to sources, this became the country’s first peer to peer lending platform. The goal of this application is to connect lenders and borrowers together. Thus, the application avoids the need for intermediate traders. As a result, the borrower or the lender doesn’t have to pay any commission.
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In the long run, both the borrower and lender are likely to witness better rates.
A few years back, this p2p lending app was able to raise 4 million USD.
As suggested by its name, this is another peer to peer lending platform. It was founded in the year 2014, in Ahmedabad. The company relies on data analysis for generating results. It is used by borrowers to connect with lenders based on their creditworthiness. LendingKart is a reliable brand for easy credit access.
In the year 2018, LendingKart was able to secure 400 crores in the form of debt funding.
Finzy is a peer to peer lending company founded in Bengaluru. It was established in the year 2016. This is a digital platform for secure, easy, and quick access to loans. Most of the time, the loans are offered at personalized rates of interest.
Finzy was able to secure as a part of pre-series A funding, 1 million USD in the year 2018.
This is a Noida based peer 2 peer lending company in India. It was founded in the year 2015. The app is designed to help both borrowers and lenders. When it comes to borrowers, they will be able to secure loans a low rates of interest. On the other hand, it helps lenders secure borrowers and deals with high rates of interest.
Through seed funding, the company was able to raise 5 crores INR.
This peer 2 peer lending application is based in Hyderabad. It was founded in the year 2012. It serves as an online marketplace, where borrowers and lenders can get in touch. Most of the time, borrowers are delighted with stunning rates of interest. Often, the interest rates range between 18 and 25 percent. When compared to traditional fixed deposits, these rates are much higher and better.
In the year 2017, this company raised an “undisclosed” amount of money through seed funding.