19 November 2018, Mumbai, RupeeCircle:
Founded in 2017, RupeeCircle’s proprietary credit scoring model leverages data science, technology & cloud infrastructure to accurately underwrite first time borrowers and new to credit customers. With a highly experienced and passionate team, RupeeCircle is poised for rapid growth while redefining the lending & investment landscape in India.
P2P platform provides finance to the recipient who repays in the form of EMIs. The idea took shape when Ajit Kumar observed the massive difference in the interest rates of deposits and loans transacted by banks. He felt if this market harnessed could benefit both the investor and the borrower equally. ‘The growing middle class youth who earn handsomely and wish to diverse their investment portfolio also encouraged us to bank on our idea of establishing RupeeCircle.’
‘We are a platform connecting borrowers and lenders, also provide services to both the parties. We have systematic approach to identify genuine borrowers so as to safeguard the interests of the lenders. Our qualifiers are just ten percent of loan appliers which shows how pragmatically we work,’ informed the founder.
‘We also offer full freedom to lenders to what and where they want invest and how much they would like to. We have categorized the applicants into six categories based on the risk factor and interest rate would apply as per the category. This data is transparent to lenders to take their call on every individual issue.’
Repayment management is their forte like collection, recovery and legal. The gamut of services offered contends both the active participants on the platform. The founding team is their asset as they dream on the same lines. They are Abhishek Gandhi Co-Founder & CFO, Piyush Saurabh Co-Founder & Director, Ashish Mehta Co-Founder & Director. On the other hand, Nikhil Prabhakar Heads the Marketing and Products.
With this formidable team, RupeeCircle achieved 200 + Investors, 2000+ Borrowers and 20+ Channel Partners. They offer various P2P Investment Products like Auto Invest, Re- Invest & Risk Grading based Diversification for P2P Investors. RupeeCircle raised seed fund of INR 40 million funding from one of India’s leading finance company, MAHINDRA FINANCE.