Digital lending platform IndiaLends has raised $5.1 million in a financing round led by existing investors ACP Partners and DSG Consumer Partners.
The startup will use the funds to expand its technology platform, increase its market footprint and amplify its product offerings to meet the pent-up demand in a post-COVID economic recovery, it said in a statement.
Founded in 2015 by Gaurav Chopra and Mayank Kachhwaha, IndiaLends uses its automated processing system to offer unsecured credit products to customers through its 50-plus bank and NBFC partners across the country. It claims to have a customer base of over 8 million and has disbursed more than Rs2,000 crore in personal loans since its launch.
“This fresh round of financing comes at a critical point in our business, enabling us to build our services and offer innovative products to our customers, as we usher into the next phase of growth,” said Gaurav Chopra, founder and chief executive, IndiaLends.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from March 17-19, 2021.
