FlexSalary Crosses INR 100 Crore Mark in Loan Disbursement


Press Trust of India HYDERABAD
/ -- Vivifi India Finance Private Limited (Vivifi), a FinTech NBFC (non-banking finance company), has announced that its flagship lending product 'FlexSalary' has crossed INR 100 crore mark in total disbursements.
FlexSalary is an online unsecured personal emergency line of credit loan product, which is built with the vision to help individuals steer away from the awkwardness of short-term cash crunches. In essence, FlexSalary eases out the immediate fund requirements of salaried individuals who may or may not have access to more formal loan products. Bootstrapped by its founders, Vivifi India, has become one of the fastest growing Telangana-based Fintech startups in a short span of less than 2 years of operations and has so far disbursed INR 100 crore and has approved more than 35,000 loans. FlexSalary, with the unique features and near-instant loan disbursal, is emerging as one of the most preferred digital lending companies for short-term instant cash needs of salaried individuals. With its simple online one-time approval process, individuals can avail FlexSalary loans up to INR 2 lakh for any length of duration.
Commenting on the occasion, Anil Pinapala, CEO & Co-founder, Vivifi India said, "Team Vivifi is excited on achieving this INR 100 crore milestone. FlexSalary has resonated well with salaried individuals facing an immediate cash need. The product was designed to be customer-centric, which has helped in anticipating the customers' needs and delight them with better services. This has also improved customers' stickiness, resulting in accelerated growth. FlexSalary app has crossed over 5 lakh app installs."

With focus on profitable operations, Vivifi receives more than 70,000 new loan applications in a month and has over 97% of its existing borrowers using their credit line actively.
"To take the company to the next level, providing the best customer experience to individuals seeking immediate financial assistance is extremely important and FlexSalary has been doing extremely well to set new benchmarks in customer service, satisfaction, and operational standards," Anil added.
About Vivifi India Finance Private Limited

Vivifi India Finance Private Limited (Vivifi), a FinTech NBFC (non-banking finance company), offers innovative Financial Products to customers across the Credit Spectrum with focus on the Under-Served / Unserved Customers. Vivifi's flagship product, FlexSalary is an emergency line of credit that provides unsecured personal loans to under-prime and near-prime salaried individuals. Users can access FlexSalary through an app and website or through their employers who have tied up with Vivifi. Using its proprietary machine learning based credit decision model and loan management system, Vivifi goes beyond the traditional credit score to provide credit. Founded by technocrats with an experience of building a successful FinTech company in the US, Vivifi aims to expand the financial inclusion agenda. To know more, visit www.flexsalary.com

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First Published: Aug 26 2019 | 12:40 PM IST

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