World’s 1st Context Aware P2P Protocol, MOI, Brings New Dynamics to Web3

My Own Internet (MOI), a personalized Web3 internet protocol, is focused on driving web3 development and adoption to new heights with their path-breaking IP, Interaction State Machine (ISM), allowing participation at Layer 0.

MOI is a global network that enables sustainable transactions across millions of decentralized nodes and billions of transactions in an interoperable network. With hyper parallelism mechanism, complete user ownership and personalization, cross platform transfers of digital assets, data storage, and web2 to web3 migration processes, this ecosystem is highly efficient for users and developers alike.

A primary offering of Sarva Labs, a deeptech web3 startup focused on simplifying digital interactions through emerging technologies such as blockchain and AI, MOI is forging a path towards a pioneering user-centric consensus mechanism that will give the power back to the users in a simple and effective manner. With a human-centric sybil mechanism, MOI has introduced participant context as a new dimension to computation and settling of transactions in distributed networks. This unique and fresh concept generates personalized value states, truly owned by the users, with a high degree of security and scalability.

The ISM based technology that powers MOI has facilitated a participant centric consensus mechanism and enables Web3 networks to shift focus from a programmatic and system oriented approach to user first model. With a strong community of 35K and 680+ global validators, MOI is steadily moving towards building a true P2P global internet that accommodates user needs and behavior along with having a sustainable, equitable, and scalable structure.

“We as a society have gotten complacent into the pervasiveness of intermediaries and the intermediated interactions and transactions. Today, with the rapid advancement of technology, we are steadily moving towards less personalization in our everyday interactions. This makes us insecure and lacks transparency. With MOI, our aim is to have a user centric future that is personalized, context aware, sustainable, and secure. Our focus through our 5 years of research and development was to create a next generation technology that is foundationally human-centric, enables complete user ownership of assets and participation, and personalization of digital networks in a simple, secure and sustainable way - as each user sees it. A confluence of next generation technologies leading us into a constantly connected and aware world.` Anantha Krishnan, CEO, Sarva Labs

Winners of the Building Future Cities Hackathon held in August 2022, organized by CoinSwitch Kuber, MOI is already supporting 15+ builders on its platform. They have also recently launched a holistic NFT platform, Mint Valley, a personalized ecosystem for artists, creators, technologists to create, list, sell, and share digital assets. Additionally, they have launched their College Ambassador program to foster Web3 awareness, knowledge sharing, and mentorship to ensure continued augmentation of the sector and support the resultant innovations.

About My Own Internet (MOI):

MOI, the primary offering of Sarva Labs, is a decentralized global web3 network that supports humanized interactions on the internet enabling true P2P value transfers and personalized digital interactions. MOI is built using Interaction State Machine (ISM), a revolutionary new computational model created by Sarva Labs for the web3 world. Using the ISM technology, MOI delivers a simple, secure, and sustainable web3 experience for users by enabling a single web3 network capable of hosting millions of nodes to support billions of transactions with complete user privacy, ownership and control. With a practical and equitable governance model, the value generation in MOI is democratic, while offering flexibility to support the regulatory norms of respective environments.

For more, visit: https://moi.technology/

About Sarva Labs:

Sarva Labs is a DeepTech web3 startup focused on simplifying digital interactions by developing user-centric technologies in blockchain and AI. Sarva ‘s vision is to help build an equitable, sustainable, and happy digital society and is doing foundational research to create new computational models, design methodologies, and governance frameworks to make the emerging web3 ecosystem practical, personalized and useful.

For more, visit: https://www.sarva.ai/

About Mint Valley:

Powered by MOI, Mint Valley is a personalized ecosystem for artists, creators, technologists to create, list, sell, and share digital assets. A holistic NFT platform, Mint Valley allows users to create, customize, and sell NFTs with no transaction fees, easy wallet access, and a simple and fast user experience.


For more, visit: https://mintvalley.ai/

LenDenClub Raises $10 Mn in Series-A Funding; Hits Rs. 1200 Cr. Disbursement Within 6 Months

Eyes 5-fold growth in next 18 months - expand market footprint, accelerate product development and upgrade technology platform

Investors: Artha Venture Fund, Kunal Shah (Founder, CRED), Alok Bansal (Co-founder, Policybazaar), Ramakant Sharma (Co-founder, Livspace), Hardik Pandya (Indian Cricketer), Krishna Bhupal (Co-founder of Promaxo and Board member of GVK Power & Infra), Tuscan Ventures and Ohm Stock Brokers.

LenDenClub, India's leading peer-to-peer (P2P) lending platform, today announced that it has raised $10 million in a Series A round co-led from a consortium of investors inclusive of - Tuscan Ventures, Ohm Stock Brokers, Artha Venture Fund, Kunal Shah (Founder, CRED), Alok Bansal (Co-founder, Policybazaar), Ramakant Sharma (Co-founder, Livspace), Hardik Pandya (Indian Cricketer), Krishna Bhupal (Co-founder of Promaxo and Board member of GVK Power & Infra). The company earlier this year had announced that it was the only player in the P2P lending space in the country to have turned profitable.

With the current round of funding, LenDenClub valued more than US $51 million, now aims to scale up substantially, eyeing a 5X growth in disbursals in the next 18 months. The company has already disbursed more than 1200 crore worth of loans in this fiscal alone. The fresh capital will be used in aggressive expansion, taking its loan book growth to $1 billion and upscaling the user-base to 10 million from the current 2.5 million by FY 2022-23. Powered by a digital-first approach while offering its customers a smart, speedy, and easy to use, platform, LenDenClub is eyeing to offer a host of financial services as the next frontier transitioning to a digital banking model.

The company aims to invest heavily in innovating and upgrading its proprietary tech-stack platform to aid and upkeep the growth in its customer base whilst supporting all kinds of banking operations conducted on its platform. Additionally, the company aims to enhance its leadership strength and is eyeing strategic C-suite appointments in pursuit of its expansion goals, besides increasing the operational team size by the end of the next fiscal. It is eyeing fresh recruits for the role of tech, product, marketing, and customer service who will aid its growth plans of upscaling its presence across the country.

LenDenClub currently has over 2.5 million borrowers and 1 million investors and has registered loan disbursements worth more than Rs. 2000 crore, of which disbursals worth 1200 crore were achieved in the first 6 months of FY21-22 alone thus reporting growth of 1900%.

Founded in 2016 by Bhavin Patel and Dipesh Karki, LenDenClub leverages technology to bring borrowers and investors on the same platform – providing hassle-free instant loans to borrowers and offering new-age investment options to investors across the country. The company processes over 2.5Lakhs loan applications every month. The company currently has two high growth loan products - InstaMoney for salaried customers and small business loans for merchants and shopkeepers.

Bhavin Patel CEO & Co Founder LenDenClub

Speaking on occasion, Bhavin Patel, Co-founder & CEO, LenDenClub, said, “At LenDenClub we have always emphasised on leveraging technology creatively while adapting to an ever-evolving financial services marketplace. We have been constantly inventing products that yield greater returns for our investors and democratising credit while offering market competitive rates for our borrowers. Futuristic, customer centric-products and seamless digital experience offered by our platform backed by a focused market expansion approach, is what has aided the exponential growth of LenDenClub. We are privileged and delighted to bring on-board immensely diverse investors in this round and use their expertise to fuel further growth at LenDenClub. The aim is to accelerate growth while maintaining profitability on operations."

Anirudh A Damani, Managing Partner, Artha Venture Fund, said, "We are thrilled to see such a rich trove of investors backing a startup that we have seen grow from 1 to 2 loans a month, to doing 35,000+ loans. We are eager to see where this round of investment takes LenDenClub and the path that it charts for itself."

LenDenClub had raised $1.5 million as part of its Pre-series A round co-led by Micro VC fund Artha Venture Fund - I, Transworld Group and Ms Shuchi Kothari of the DSP Group in August 2019. The company has built a strong technology platform with this capital and has disbursed loans worth more than Rs. 2,000 crore. The company last year expanded its flagship digital loan platform InstaMoney to pan-India. From its presence in 7 states, the company has expanded the footprint of its key offering to pan-India whereby borrowers from over 19,000 pin-codes can now seamlessly apply and get instant loans. This has helped the section of the population living in tier 3 cities and rural regions not covered by banks especially in the small ticket loan category of up to Rs. 10,000. The company has witnessed 5-8 times growth in their loan disbursals during the last 3 fiscals and has one of the lowest NPA of 3.95%.

About LenDenClub

LenDenClub is a leading peer-to-peer lending platform that provides an alternate investment opportunity to investors or lenders looking for high returns with creditworthy borrowers looking for short term personal loans. With 1 million+ investors on board, LenDenClub has become a go-to platform to earn returns in the range of 10%-12%. LenDenClub offers investors a convenient medium to browse thousands of borrower profiles to achieve better returns than traditional asset classes. Moreover, LenDenClub is safeguarded by market volatility and inflation. LenDenClub provides a great way to diversify your investment portfolio.

Additionally, with more than 2.5 million+ borrowers, InstaMoney, its borrowing platform has disbursed over Rs. 2,000 crores of loans to date. It offers instant personal loans to salaried individuals with flexible loan tenure. The platform aims to foster financial inclusion by leveraging technology to support borrowers with hassle-free loans, even in the remotest parts of the country. InstamMoney also provides small merchant loans of up to Rs. 1,50,000 to borrowers who are into SME business. Through InstaMoney’s partnership with merchants, Instamoney also extends the popular service of Buy Now Pay Later to the end consumers or shoppers.

LenDenClub is Now The 1st P2P Lending Platform on Google Pay

• LenDenClub is now the first P2P lending platform on Google Pay
• Offers twin spots on GPay - 'InstaMoney' for borrowers and 'LenDenClub' for investors
• GPay customers can now lend and borrow through LenDenClub as seamlessly as making payments through the existing platform
• Company has one of the lowest NPA in the digital lending space at 3.4%

Mumbai, March 25, 2020: LenDenClub, one of the leading peer-to-peer (P2P) lending platforms in India, today said that it has integrated with Google Pay and is now live on its platform. It is the first P2P lending company to integrate with the tech platform. With this integration, customers of GPay can now lend and borrow through LenDenClub as seamlessly as they can make payments through the platform.

LenDenClub offers borrowers hassle-free loans, even in the remotest parts of the country. It is one of those rare lending apps to offer loans across 19,000 pin codes across the country; higher than some of the banks as well. With its integration on GPay, users can now access services offered by the brand right from the Google Pay app interface. Borrowers can visit the 'InstaMoney' spot on GPay and get loans ranging anywhere between Rs. 5,000/- to Rs. 12,500/- transferred to one's bank account within minutes. Similarly investors can visit the 'LenDenClub' spot on GPay and invest as low as Rs. 500 thereby offering loans to borrowers directly. The invest option will be live in a few days.

The Spot feature is currently available on Android, while the iOS version will be launched in the coming months.

Speaking on occasion, Bhavin Patel, Co-founder & CEO, LenDenClub, said, "LenDenClub is extremely excited to be live on Google Pay. It goes along with our vision of delivering financial products through technology. Being the first P2P player to integrate with GPay, offers us access to over 60-70 million active GPay users monthly on both the demand and supply side of our business. With more and more people in the country getting used to the idea of shopping and transacting online, a large portion are now also seeking credit digitally. We are confident to add value to Google Pay's customers through this collaboration."

LenDenClub has been critical in serving the marginalised and offering credit to those left out of the country's financial services fold. Additionally, the platform offers an excellent alternative investment opportunity for investors to lend on its platform and earn net returns up to 15% p.a., superior to most of the other investment products available.

The company currently has a loan book of more than Rs. 500 Cr., with an average ticket size of Rs. 25,000. It has arranged more than Rs. 1,000 Cr. worth of loans by more than 1.5 lakhs lenders on the platform. Betting big on the P2P lending space, especially in a post-Covid scenario, the company recently expanded its flagship digital lending platform InstaMoney from its presence in 7 states to pan-India. The company has one of the lowest NPA in the digital lending space at 3.4% as on 30th December 2020.

About LenDenClub

LenDenClub is the largest peer-to-peer platform in India, having disbursed more than ₹500 crores worth of loans. It aims to foster financial inclusion by leveraging technology to support borrowers with hassle-free loans, even in the remotest parts of the country, while providing a new-age investment option for investors. Listing only pre-verified loans, LenDenClub offers investors a convenient medium to browse thousands of loans to earn better than fixed deposits, mutual funds etc. With a 100% funding record for its borrowers, LenDenClub currently enjoys a user base of one and a half million and disburses on an average 2.5 lakh loans annually. While the platform hosts investors and borrowers across India.

An application offered by LenDenClub, InstaMoney is the go-to platform for salaried borrowers to avail instant personal loans. The platform offers you quick loans at an interest rate ranging between 0% (minimum for no cost EMI finance) to 2.99% (maximum) per month for a tenure of 3-5 months. The loan amount offered under the category ranges between Rs. 5000 & Rs. 15000 and is applicable for people without any default/write-off in past. LenDenClub also offers small merchant loans to borrowers who are into businesses. The loan amount goes upto ₹1,50,000 in case of merchant loans. An extremely user-friendly process, their mobile applications only require basic KYC details, and the applicant's salary bank statement. Since InstaMoney does not require any credit history, it is a more accessible route for instant personal loans than banks.