Hyderabad based i-Lend, a peer-to-peer lending marketplace, and Lenddo -- a firm specialised in using non-traditional data for credit scoring and on-line verification -- announced they are entering into a strategic partnership.
With this, i-Lend plans to scale up its presence across the country to facilitate unsecured personal loans between individuals to individuals and institutions to individuals.
"Tie-up with Lenddo will help us reach out to borrowers who are otherwise not included in the financial system due to lack of credit history," said Shankar, founder of i-Lend.
"India is a very important market for us and usage of non-traditional data to score and ensure financial inclusion of large population is critical to India's growth," Abhinav Haldia, Lenddo's country director for the Indian market, informed.
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