startup funding

P2P Lending Platform PaisaDukan.com Secures 2nd Rund of Funding from JIIF

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P2P lending e1525691914710

PaisaDukan.com, a Peer-to-Peer (P2P) Lending Platform owned by Mumbai based NBFC-P2P Company, BigWin Infotech Private Limited today announced second round of funding from JITO Incubation & Innovation Foundation (JIIF) to complete a total raise of USD 1.3 Mn since inception in Nov 2017. The present round of funding is led by two of the industry stalwarts, Mr. Manoj Mehta, a marquee angel investor of JITO Angel Network and CEO, MTC Group, a renowned name in the global recycling and metal industry along with Mr. Sunil Singhvi, who is a Textile business magnate and a renowned Angel Investor in several Startups.

Founded in November 2017 by Mr. Rajiv M Ranjan and Ms. Neeta R Ranjan, BigWin Infotech Private Limited is the first new entrant to receive Certificate of Registration (CoR) from the Reserve Bank of India (RBI). Following the same pioneering stint, this time for the P2P lending industry, PaisaDukan initiated the first of its kind Peer-to-Peer Rural Lending in Madhubani district of Bihar. This initiative made PaisaDukan the first company from the P2P ecosystem to take a step ahead for Rural India.

Commenting on the recent funding, Mr. Rajiv M Ranjan, Founder & CMD of PaisaDukan said “Infusion of additional funding from JIIF has showcased investors’ confidence on our business strategy and moreover, on our initiative to make credit accessible to the remote and credit deficient part of the country, empower women and enable deeper financial inclusion. This round of funding has come across after a successful pilot project by virtue of PaisaDukan’s Rural Lending initiative in India. The current round of funding will boost the company’s morale to support financing in rural India through P2P lending and will help in hiring experienced key resources to support company’s rural expansion. In Last five months of rural operations, the company has managed with Zero Defaults and Zero Days delay in EMI receivables, added Mr. Ranjan.”

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Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

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