SucSEED Backs i2iFunding Second Time, India's Leading Online NBFC - Peer to Peer (P2P) Lending Platform

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Vaibhav Kumar Pandey, co-founder of i2iFunding, said, "Majority of India is still credit starved as it lacks traditional data which banks use to provide loan. As a result, these borrowers resort to expensive informal credit or have to disclose their requirements to friend/family for financial help. They end up in debt trap or get embarrassed or both. i2iFunding have now developed strong understanding of such borrowers and have come up with technology-based customized solutions to cater to each borrower segment using alternate data. We think that we have now reached the inflection point and are in position to replicate our solution on much larger scale by increasing our outreach."

Ajay Kalhan, an active investor with SucSEED and who has been representing SucSEED on board of i2iFunding, said, "Looking at the performance of i2iFunding over last 18 months, our angel investors felt confident to do follow-on investment round with them. In fact, this is our largest investment in any startup and we are excited to back i2iFunding with our full support."
Vikrant Varshney, Co-founder & Managing Partner of SucSEED, said, "With Investments in Paymatrix, Insense, Stockal and i2iFunding, we have penetration in payments, card analytics, wealth management and P2P lending space in the fintech sector. This gives us unique opportunity to help fester collaborations amongst all fintech startups to create a unique value proposition for the financial sector."

About RNVP Technology Private Limited

http://www.i2iFunding.com
Problem(s) being addressed:
For Borrowers: Majority of India is credit starved as banks and NBFCs have limited focus and risk appetite to lend to customers such as people with no credit history, small businessmen, self-employed personnel, grade 4 government employees, newly employed salaried personnel, and many others. As a result, these borrowers resort to expensive informal credit or have to disclose their requirements to friend / family for financial help. They end up in debt trap or are embarrassed or both. For Lenders: Mutual funds and fixed deposits remain the frontline investments products for retail customers in India. The returns are typically in 7%-12% range. In addition, timely redemption remains a challenge in mutual funds. There is no product which provides 15% - 20% stable returns. Solution:

i2iFunding provides unsecured loans up to Rs 10 Lakhs at affordable rates to these borrowers. i2i has built customized evaluation criteria for each customer segment by leveraging technology and hence, is able to provide loans at affordable interest rates. The interest rate on loans provide attractive returns to lenders. Hence, i2i has been instrumental in developing a new asset class for Investors (Lenders in this case). Market Potential in P2P Lending space in India:
As per PWC report, estimated potential of P2P market in Indian is around $4-5 billion over the next 5 years. Various industry pundits peg the full potential to be upwards of $100 billion. Details of 5 Co-founders:

Raghavendra Singh is an MBA from IIM Calcutta with 12+ years of experience. At i2i, he leads product development, digital marketing and lender acquisition. He has been instrumental in ensuring that 100% of loans at i2i get quickly funded. i2i is also ahead of its peers in terms of trust among lenders. Neha Aggarwal is an MBA from XIM Bhubaneshwar and leads credit at i2i. Her ability to understand and quantify risk associated with retail loans has helped i2i in keeping NPLs low while servicing the segment which is generally out of favour for formal lenders. She has been instrumental in developing rule-based credit evaluation to make the business scalable. Abhinav Johary is an MBA from Amity Business School and has strong understanding of operations. He leads sales for blue collared salaried employees who are still to get online. He also leads collection and recovery functions at i2i. Manisha Bansal is chartered accountant and has 9+ years of experience in finance and HR management. Leveraging her skills, she leads audit and recruitment. About SucSEED Venture Partners