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IndiaLends raises $10 mn in funding

Press Trust of India  |  New Delhi 

Credit score and analytics firm today said it has raised USD 10 million in funding led by London-based

The firm will use the funds to enhance its platform and marketing footprint across and to hire more talent.

The series B funding round also saw participation from existing investors American Express Ventures, and along with the India-focussed Chinese fund, Ganesh Ventures, the company said.

Started in March 2015 by and Mayank Kachhwaha, operates an that allows consumers to access offered by various financial institutions based on the consumers' credit profile.

The firm claims to have disbursed over Rs 500 crore in personal loans since its launch and helped nearly 2,00,000 consumers in securing approvals for credit cards.

We have witnessed strong growth in the last financial year with our operational revenues growing 900 per cent to cross Rs 15 crore.

"We have partnered close to 50 banks and Non-Banking Financial Companies (NBFCs) and offer personal loans in multiple consumer segments with loan ticket sizes ranging from Rs 15,000 to Rs 50,00,000 and loan repayment tenures from 3 months to 6 years," Chopra said.

Prior to this round, raised USD 4 million in December 2016.

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

First Published: Mon, July 09 2018. 17:50 IST
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