RupeeCircle enables borrowing better and lending smarter

Mumbai P2P

19 November 2018, Mumbai, RupeeCircle:

Funding and loans become essential to accommodate and afford necessities that were once considered as luxuries. However only the elite few get financial institutes back their needs.
The rest need to save before buying them. To create level playing field Peer to Peer (P2P) plays a pivotal role. Getting a loan is easy and hard too, from any financial institution.
For the urbanites who earn handsome figures, loan offers are abundant even if they don’t want. But for the less earning counterparts most institutions shy away.
In such cases how do the less fortunate realize their dreams. P2P lending is the best option to bridge the gap between under-banking masses with investors who would like to lend through a reliable source.
Though there are quite a few in this segment, Mumbai based RupeeCircle is providing an alternate investment asset class which fits in with Indian consumer requirements.
Speaking to Way2World, Ajit Kumar, Founder, said, ‘RupeeCircle is the new age P2P finance company that strives to “make borrowing better and lending smarter.” Backed by Mahindra Finance, Oracle’s Cloud Accelerator Program & other marquee investors, we aim to drive financial inclusion to millions of unbanked & under-banked creditworthy borrowers in India.
We provide an online marketplace to connect creditworthy borrowers with investors looking for high return on their investments. We believe that with increasing internet penetration, digital footprints & real time analytics individuals can act as “Banks or Financial Institutions” themselves and thereby extend financial services to the last mile.’

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.

Way2World admires the efforts taken by the RupeeCircle team to help people, who are denied by banks, inspite of good records, reach out to higher needs. With inputs from internet – RajKishan