InstaEMI.Com to raise USD 10 million from US firm

City based Fintech firm -- InstaEMI.Com today announced plans to raise USD 10 million from a US-based financial services company and said it would expand its operations to New Delhi, Mumbai, Pune and Kolkata this month.
Specialising in credit underwriting and portfolio management, the company offers an online platform providing end-to-end financial services and after sales support, it said in a statement.
Apart from Hyderabad, presently the company operates in Bengaluru, Chennai, Tirupati and Kurnool. InstaEMI has partnered with 30 banks and more than 40 asset management companies to offer products to its customers.
The company has launched its mobile app which allows transactions to the investors and the borrowers alike. Borrower's credit underwriting process of the company is integrated with many external tools like customers online bank account, social media, facial expressions, CIBIL and credit parameters for decision-making, it said.

Hanu Yedluri, chief executive officer, InstaEMI.Com, said, "We are planning to raise USD 10 million to be injected in the business capital to help growing our asset portfolio in metro cities."
InstaEMI has completed a loan disbursement of Rs 60 crore till December 2016 and expects the total disbursement to cross Rs 100 crore by end of the financial year 2016-17, it stated.