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PayMe India raises USD 2 mn from Singaporean Angel Investors

ANI  |  New Delhi [India] 

Leading fintech company, PayMe India, on Thursday went official about raising USD 2 million from Singapore-based Angel Investors. The investment round included the line of credit from multiple companies (NBFCs) and fresh cash in the equity round.

Spearheaded by founders and Sandeep Singh, is bagging a ton of clients with quick loan approval, processing, and

For making the massive disbursal and evaluation processes easy to manage, the company is adapting to high-tech and

"We have the right blend of and technical expertise and we are self-sufficient in meeting the demands of the which is growing by leaps and bounds. Our operational procedure is very much technical-intensive and where plays the key role to build our mobile app; the one single app supports as well as iOS listings. This funding round will help us to foster both capacity and market expansion for PayMe India," said Mahesh Shukla, of

"is on the verge of a financial revolution and I am very excited to be a part of PayMe's journey towards financial inclusion and independence for millions of unbanked professionals. Mahesh and his team have leveraged technology creating a platform aptly suited for the GenX professional," said Rishi Bhasin, with and Company and an active Angel Investor.

offers lending support to corporate individuals (salaried employees) on short-term as well as long-term basis.

Unlike others, the company willingly offers the loans at a reasonable rate of interest and approves the loan in a fraction of minutes.

As of now, the company relies on alternative data and information based on and mobile data for credit underwriting.

PayMe India also claims to have built a proprietary underwing credit evaluation model to keep and risk potential at the wayside.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 26 2018. 13:35 IST