Deal4Loans in hiring spree, headcount to go up fourfold

Online loan disbursal platform Deal4Loans is looking at a fourfold jump in its workforce to about 330 people in the next fiscal as it ramps up operations.
The Noida-based firm works with a team of 81 people.
"We are a technology-based firm and we believe that technology can help us in higher productivity per employee. We currently work with a 81-member team and want to hire 250 more people during the next fiscal as we are looking for expansion," Deal4Loans MD and board member Puru Vashishtha told PTI.
The firm, which disbursed loans worth USD 350 million during the last fiscal is targeting loan disbursal amounting to USD 1.5 billion in the next fiscal.

"We are well on track with our growth plans. I cannot share the financial of the current fiscal right now, but I can assure that we will achieve our target. In the next fiscal we are looking to disburse around USD 1.5 billion," he added.
The company has six million registered users and according to Vashishtha 90 per cent of the customers are below 44 years of age.

"Previously people used to visit a single bank, whatever the bank used to quote for a loan, they used to go for it. Because obviously one cannot visit five banks. We want to build on that. We take down details of a customer and accordingly we offer them the best from our partners," he said.

"Like people buy clothes from online stores they come to us and the success can be well defined if you look at our loan disbursal figures," he added.
The company is also looking to raise funds and is already in talks with a number of investors.
"A lot of investors are interested as you can see the way we are performing, we hope something to finalise very soon," he said.
The online loan disbursal space is hotting up with firms like BankBazaar, LoanBaba and ApnaPaisa expanding operations.