IndiaLends Raises $4 Million in Series A Funding from Multiple Investors

IndiaLends funding01 December 2016, India :

Fin-tech startup IndiaLends has raised $4 million in Series A funding from American Express Ventures, existing investors DSG Consumer Partners, Chinese investment firm Cyber Carrier VC and AdvantEdge Partners.

The latest round of funding will be utilized by the company to expand its credit underwriting and analytics capabilities, offer more consumer-focussed products and increase its market footprint across India.

Gaurav Chopra, Co-Founder of IndiaLends said, “We have witnessed strong traction in the past year with our loan volumes growing 100% quarter-on-quarter. We have partnered with over 30 banks and Non-Banking Financial Companies (NBFCs) and now offer bespoke lending products in segments that have been historically underserved. The superior quality and quantity of data are helping financial institutions underwrite more and more of our customers. This new round of funding not only gives us the capital to scale exponentially but also provides us access to resources and learnings from developed fin-tech markets such as the U.S. and China.”

Started in March 2015 by Gaurav Chopra and Mayank Kachhwaha, IndiaLends is a credit scoring and analytics platform focussed on disrupting the fragmented consumer lending market in the country. The company operates an online marketplace that allows consumers to shop for loan products, as well as access credit scores and financial education. It currently attracts over 140,000 visitors every month and helps them to more quickly get access to cheaper credit.

DSG Consumer Partners is a venture capital fund focused on identifying, selecting and investing exclusively in early stage consumer businesses in India and South East Asia.

Also read-
THE ARTIFICIAL LEAF THAT CONVERTS CARBON DIOXIDE TO FUEL
ACCEL PARTNERS RAISES WHOPPING $450MN FUNDS
RAHUL GANDHI’S TWITTER ACCOUNT HACKED; FUNNY, ABUSIVE TWEETS POSTED!

P.S-

As promised in our Fireup event announcement, we are hosting the event on December 3rd, 10:30 am at @Works KRDS, 4th Floor, Pinnacle Building, Ascendas IT Park, CSIR Road, Taramani, Chennai – 600113 to enable you the PR experience much bigger !
Tickets selling out fast ! Hurry up, grab them here soon and #Fireup !

Create your company’s timeline today on Fireup !

 

 

Send this to friend