Seed investment and innovation platform Venture Catalysts has seed funded a peer-to-peer platform LenDenClub for an undisclosed amount.
A clutch of angel investors from Venture Catalyst participated in the funding.
The portal claims to have arranged over 150 loans till date and the founders plan to utilise the seed funding to further enhance the platform and ultimately create an end-to-end online lending process.
Founded in 2014, LenDenClub is a fintech startup connecting salaried borrowers to individual lenders.
Operating as a web-based platform, LenDenClub considers a combination of traditional and non-traditional data points to validate the credit-worthiness of the lender.
This investment in LenDenClub is in line with the vision of Venture Catalysts to promote innovation and tech-driven entrepreneurship in the country.
Associated with several startup accelerators as well, Venture Catalysts provide opportunities for startups to connect with mentors, partners or investors from across the globe.