Fintech delinquency rates are not alarming: LenDenClub CEO Bhavin Patel

The government is focusing on certain sectors like, say, infrastructure, and you will have a boom as a result of this: Patel

LenDenClub, a peer-to-peer (P2P) lender, plans to scale up its business five-fold over the next 18 months, taking its loan book to $1 billion and 10 million customers. It raised $10-million in Series-A funding, co-led by Tuscan Ventures, Ohm Stock Broker, Artha Venture Fund, CRED founder Kunal Shah, Policybazaar co-founder Alok Bansal, and cricketer Hardik Pandya. BHAVIN PATEL, the firm’s co-founder and chief executive officer, spoke to Raghu Mohan. Edited excerpts:

The Reserve Bank of India’s (RBI’s) bi-annual Financial Stability Report has pointed out that fintech delinquencies are higher when compared to legacy lenders. What explains this, as fintechs claim to