In A First, P2P Lending Platform PaisaDukan Launches Lending Platform in Hindi

Soon within a day after e-commerce giant Amazon launched its website and app in Hindi language, PaisaDukan, a Mumbai-headquartered P2P Lending platform today announced launch of its web portal in Hindi and becomes the first major P2P lending operator to offer loan & investment services in Hindi. The new feature is in-line with company’s ambitions plan of becoming country’s largest P2P lending platform. The move is an attempt to make deeper inroads into the Indian market that is more comfortable in Hindi. Company is also exploring to extend its reach to more vernacular space to target customers beyond the metropolitans in India.

Speaking on the launch occasion, Rajiv M Ranjan, Founder & CMD, said “with over 460 million internet users, India is second largest market, behind China and expected to have around 600 million by 2022. Needless to say vernacular languages will play a crucial role in bringing next 150 million users online. The Hindi feature will connect PaisaDukan to users from smaller cities of North & central region and will help millions of customers who prefer Hindi.”.

Users can choose the Hindi option at home page of PaisaDukan.com website, which will be later set as default. The Hindi version will have the same features as available on English website. User will not be able to read detailed product information in Hindi but will be able to do registration, filling application, manage their account information, track their loan applications etc. in Hindi as well.

“Our philosophy is to align our platform with vision of financial inclusion to serve the unserved. Many people in such category find themselves comfortable with their native language and are not so conversant on platform in English language. The move is part of our PAN India expansion plan and we want to bring every citizen to financial system” concluded Mr. Ranjan.

In April this year, the startup had raised US$650K in seed funding followed by second round of seed funding amounting $2,25,000 through angel investment, in the following month, which took company to the total Seed investment of $875,000 till date.

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.

In A First, P2P Lending Platform PaisaDukan Launches Lending Platform in Hindi

Soon within a day after e-commerce giant Amazon launched its website and app in Hindi language, PaisaDukan, a Mumbai-headquartered P2P Lending platform today announced launch of its web portal in Hindi and becomes the first major P2P lending operator to offer loan & investment services in Hindi. The new feature is in-line with company’s ambitions plan of becoming country’s largest P2P lending platform. The move is an attempt to make deeper inroads into the Indian market that is more comfortable in Hindi. Company is also exploring to extend its reach to more vernacular space to target customers beyond the metropolitans in India.

Speaking on the launch occasion, Rajiv M Ranjan, Founder & CMD, said “with over 460 million internet users, India is second largest market, behind China and expected to have around 600 million by 2022. Needless to say vernacular languages will play a crucial role in bringing next 150 million users online. The Hindi feature will connect PaisaDukan to users from smaller cities of North & central region and will help millions of customers who prefer Hindi.”.

Users can choose the Hindi option at home page of PaisaDukan.com website, which will be later set as default. The Hindi version will have the same features as available on English website. User will not be able to read detailed product information in Hindi but will be able to do registration, filling application, manage their account information, track their loan applications etc. in Hindi as well.

“Our philosophy is to align our platform with vision of financial inclusion to serve the unserved. Many people in such category find themselves comfortable with their native language and are not so conversant on platform in English language. The move is part of our PAN India expansion plan and we want to bring every citizen to financial system” concluded Mr. Ranjan.

In April this year, the startup had raised US$650K in seed funding followed by second round of seed funding amounting $2,25,000 through angel investment, in the following month, which took company to the total Seed investment of $875,000 till date.

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.

P2P Lending Startup PaisaDukan Secures Additional Seed Funding of US$225K

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.

P2P Lending Startup PaisaDukan Secures Additional Seed Funding of US$225K

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.

Mumbai-based P2P Lending Platform PaisaDukan Raises $650K Through Angel Funding Route

PaisaDukan.com a P2P Lending marketplace solely owned by Mumbai based FinTech start-up BigWin Infotech, today announced a secured seed funding of USD 650K through Angel funding route. The fund will be used for marketplace platform and mobile app development.

BigWin Infotech is a government of India recognized ISO 9001:2015 & ISO 27001:2013 FinTech startup. PaisaDukan is a Techno Grad – CA Association and is a brainchild of two industry experts Mr. Rajiv M Ranjan, a leading FinTech professional and Mr. Ambar Kasliwal, a practicing CA.

Commenting on the development, Mr. Rajiv M Ranjan, Founder & CMD PaisaDukan said “The deal signifies our robust QMS and is our first milestone. Our mission is to provide a world-class platform for borrowers & lenders that will empower and set new standards bringing a comprehensive portfolio carrying unparalleled products to fasten our services. We are coming up with own proprietary credit risk management tool to cater all sections of society."

“We have applied for NBFC P2P license in Dec’ 2017 and are awaiting an approval from RBI. Our platform will go live as soon as we receive the Certificate of Registration from RBI” added Mr. Ranjan.

P2P lending is one of the most innovative products of recent time; India has a huge potential and is poised to flourish in 2018. According to various market reports, India is poised to be a USD 4-trillion economy by 2022, of which USD 1-trillion would be digital economy. On a similar note, the Govt. of India emphasized on digital economy and announced various budget allocations to boost digital Indian economy in the union budget 2018.

“We are deeply inspired by ‘Digital India’. Our vision is very clear, we aim to serve India’s traditionally underserved populace, and our target audience consists of consumers who find it difficult to secure a timely loan from banks or any other financial institutions. Also, we are not limited to basic lending operations; we’re expanding our services into certain areas where financing institutions don’t foray into, we will be catering to tier 2, tier 3 and rural locations to bring investors and borrowers together” said Mr. Ambar Kasliwal, co-founder & director, PaisaDukan.com.

The NBFC sector in India has grown significantly during the last few years and has become an important segment in the financial sector contributing to almost 10 per cent of the total assets of the financial sector.

RBI issued a guideline to companies operating in peer to peer lending platforms and classified them as NBFC-P2P. This is the twelfth category of NBFC introduced by RBI with the last one being for microfinanced companies (i.e. NBFC-MFI)

BigWin Infotech is an ISO certified startup, duly recognized by the Department of Industrial Policy & Promotion (DIPP). The Company operates in P2P lending business through its solely owned marketplace PaisaDukan.com.

The company's founder Rajiv was involved in some of the major path breaking projects as Cheque Truncation System (CTS), Real Time Gross Settlement System (RTGS), National Electronic Fund Transfer (NEFT) and Negotiated Dealing System (NDS). He has been an active participant in major initiative of institute of Development and Research in Banking Technology (IDRBT). Rajiv holds a degree in Computer Science Engineering and is an alumnus of IIMC.

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.

Mumbai-based P2P Lending Platform PaisaDukan Raises $650K Through Angel Funding Route

PaisaDukan.com a P2P Lending marketplace solely owned by Mumbai based FinTech start-up BigWin Infotech, today announced a secured seed funding of USD 650K through Angel funding route. The fund will be used for marketplace platform and mobile app development. 

BigWin Infotech is a government of India recognized ISO 9001:2015 & ISO 27001:2013 FinTech startup. PaisaDukan is a Techno Grad – CA Association and is a brainchild of two industry experts Mr. Rajiv M Ranjan, a leading FinTech professional and Mr. Ambar Kasliwal, a practicing CA.

Commenting on the development, Mr. Rajiv M Ranjan, Founder & CMD PaisaDukan said “The deal signifies our robust QMS and is our first milestone. Our mission is to provide a world-class platform for borrowers & lenders that will empower and set new standards bringing a comprehensive portfolio carrying unparalleled products to fasten our services. We are coming up with own proprietary credit risk management tool to cater all sections of society."

“We have applied for NBFC P2P license in Dec’ 2017 and are awaiting an approval from RBI. Our platform will go live as soon as we receive the Certificate of Registration from RBI” added Mr. Ranjan.

P2P lending is one of the most innovative products of recent time; India has a huge potential and is poised to flourish in 2018. According to various market reports, India is poised to be a USD 4-trillion economy by 2022, of which USD 1-trillion would be digital economy. On a similar note, the Govt. of India emphasized on digital economy and announced various budget allocations to boost digital Indian economy in the union budget 2018.

“We are deeply inspired by ‘Digital India’. Our vision is very clear, we aim to serve India’s traditionally underserved populace, and our target audience consists of consumers who find it difficult to secure a timely loan from banks or any other financial institutions. Also, we are not limited to basic lending operations; we’re expanding our services into certain areas where financing institutions don’t foray into, we will be catering to tier 2, tier 3 and rural locations to bring investors and borrowers together” said Mr. Ambar Kasliwal, co-founder & director, PaisaDukan.com.

The NBFC sector in India has grown significantly during the last few years and has become an important segment in the financial sector contributing to almost 10 per cent of the total assets of the financial sector.

RBI issued a guideline to companies operating in peer to peer lending platforms and classified them as NBFC-P2P. This is the twelfth category of NBFC introduced by RBI with the last one being for microfinanced companies (i.e. NBFC-MFI)

BigWin Infotech is an ISO certified startup, duly recognized by the Department of Industrial Policy & Promotion (DIPP). The Company operates in P2P lending business through its solely owned marketplace PaisaDukan.com.

The company's founder Rajiv was involved in some of the major path breaking projects as Cheque Truncation System (CTS), Real Time Gross Settlement System (RTGS), National Electronic Fund Transfer (NEFT) and Negotiated Dealing System (NDS). He has been an active participant in major initiative of institute of Development and Research in Banking Technology (IDRBT). Rajiv holds a degree in Computer Science Engineering and is an alumnus of IIMC.

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.