17 April 2018, India:
P2P lending platform PaisaDukan has raised $650k in Angel Funding round. The platform is owned and operated by fintech startup BigWin Infotech. The startup will use the fresh capital to develop its marketplace platform and mobile app.
“The deal signifies our robust QMS and is our first milestone. Our mission is to provide a world-class platform for borrowers & lenders that will empower and set new standards bringing a comprehensive portfolio carrying unparalleled products to fasten our services. We are coming up with own proprietary credit risk management tool to cater all sections of society,” said Rajiv M Ranjan, CMD and co-founder, PaisaDukan.
Rajiv added, “We have applied for NBFC P2P license in Dec’ 2017 and are awaiting an approval from RBI. Our platform will go live as soon as we receive the Certificate of Registration from RBI.”
“We are deeply inspired by ‘Digital India’. Our vision is very clear, we aim to serve India’s traditionally underserved populace, and our target audience consists of consumers who find it difficult to secure a timely loan from banks or any other financial institutions. Also, we are not limited to basic lending operations; we’re expanding our services into certain areas where financing institutions don’t foray into, we will be catering to tier 2, tier 3 and rural locations to bring investors and borrowers together” said Ambar Kasliwal, Director and co-founder, PaisaDukan.com.
In the last few years, the NBFC (Non Banking Financial Company) sector in India has grown significantly. It has become an important segment in the financial sector contributing to almost 10 per cent of the total assets of the financial sector.
BigWin Infotech was founded by Ambar Kasliwal, Rajiv Ranjan in 2017. It operates in P2P lending business through its solely owned marketplace PaisaDukan.com. It provides a robust and scalable marketplace wherein borrowers and lenders can interact directly.
(Image – paisadukan.com)