India’s leading digital lending start up, is extending help for its e-rickshaw customers by providing a loan of Rs 2100/- at 0% to support them during the global crisis. In this the customers can repay the loan in up to 8 installments. Also, the company will allow EMI repayment moratorium up to 3 months to its customers who have earlier taken loan for e-rickshaw, amidst the lockdown. This step is taken as a measure to curtail the lockdown and avail loan during the outbreak of COVID-19 pandemic.
The company provides loans to individuals and charge them interest on the amount. The main objective of RevFin is to promote financial inclusion. For this, it provides loans to customer segments that do not have access to formal and affordable lending. The loans are given out for productive purposes like employment generation.
We are concerned about the impact of the lockdown on our customers, who are primarily daily wage earners. As a responsible lender, we are committed to ensuring the financial well-being of our customers and to put their minds at ease during this global crisis. I believe our efforts will help our customers navigate out of the present situation with relative ease. We look forward to building a long term relationship with our customers built on mutual trust and support during all times, says Sameer Aggarwal, Founder & CEO, RevFin.
RevFin has recently partnered with PNB MetLife India Insurance Company Limited (PNB MetLife), one of the top 10 life insurance companies in India to provide protection to the customers through life insurance on their loans.
RevFin is a financial technology (Fintech) start-up that is aimed at building the world’s most advanced digital platform. The platform will be used to underwrite and manage consumer loans through our own NBFC. Through the unique approach to underwriting, rich value proposition, and a differentiated distribution model, RevFin plan to build a lending book of Rs.3000Cr in the next 5 years, with ROE of 20%+. Their vision is to create a lending platform that is agnostic of language, literacy, geography, and culture. Once the platform has been proven successful, they will use it to rapidly scale the lending book in India while leveraging the platform in other geographies. RevFin Services Private Limited (RevFin) is a privately owned digital lender based in New Delhi.