PaisaDukan.com, a P2P Lending marketplace owned by Mumbai based FinTech start-up BigWin Infotech today announced second round of seed funding and secured USD 225K through angel investment. The company has raised US$650K of seed funding last month that takes company to the total Seed investment of USD 875K till date.
Commenting on the recent funding, Mr. Rajiv M Ranjan, Founder & CMD of PaisaDukan said “Infusion of Additional Seed funding has showcased investors’ confidence on our platform, as well as on our operations management and business strategy. We have filed our application for NBFC-P2P in Dec 2017 and awaiting response from RBI. Our platform is ready to go live along with mobile app as soon as we receive Certificate of Registration (COR) of NBFC-P2P from RBI. The current round of funding will boost company’s progress and will help in hiring experienced key resources and expand our technology workforce.”
“We are also in discussion with couple of VCs who have shown interest for pre / ‘A’ series funding,” added Mr. Ranjan.
Founded in 2018 by Rajiv Ranjan, PaisaDukan is a P2P lending marketplace platform wherein borrowers can take loans from individual investors who are willing to lend their own money for an agreed upon interest rate. Their mission is to provide their clients with the finest financial platform to create a smart way of lending or borrowing money in a transparent way.
Recent Activities in P2P Lending Segment
India’s online P2P lending market attained maturity in 2017, with various factors such as the Reserve Bank of India’s guidelines on the sector, the proliferation of digital transactions, the development of financial technologies, and the lack of access to credit contributing to its rise.
Last month, US-based digital payment company Wibmo Inc has bought Gurgaon-based mobile peer-to-peer (P2P) payment solution startup Mypoolin in a cash and stock deal valued above $1 million.
In December, Faircent, touted as India’s largest P2P lending company, raised Rs. 25 crore in a high-profile funding round led by Incofin Investment Management with participation from its existing investors.
In February 2017, SlicePay has acquired Trustio, a New Delhi based P2P lending company giving alumni-backed loans to students and recent graduates. Trustio was backed by Axilor Ventures and Zostel CEO Dharamveer Singh Chouhan.