HomeMedia CenterFintech start-up LenDenClub turns profitable in Q4 of FY21

Fintech start-up LenDenClub turns profitable in Q4 of FY21

Aims to disburse ₹1,200 crore worth of loans in FY 22

Three-year-old fintech start-up LenDenClub, a peer-to-peer lending platform, has disbursed loans worth nearly ₹600 crore in FY21, up from ₹60 crore in the previous fiscal and has turned profitable in Q4 of FY21.

The company is eyeing a five-fold growth in the next two years and aims to disburse ₹1,200 crores worth of loans in FY22.

The company has provided loans to over 1,30,000 unique borrowers and cumulatively 3,60,000 loans, primarily to young salaried professionals. It processes over 25,000-30,000 loan applications and disburses about 15,000 loans every month. The P2P lender currently has a user base of over 15 lakh borrowers and 4.5 lakh lenders on its platform.

Business growth

“At LenDenClub we have grown 1,000 per cent y-o-y and 43 per cent of our customers are repeat customers who rely on us during their tough times. Even amidst the pandemic, we identified the consistency in the investment flow and business grew exponentially. We have seen a considerable growth with respect to all aspects of our business – be it business numbers, headcount/manpower, geographic reach etc. As a company we are growing very fast, thanks to our collaborative team efforts, and became profitable in FY20-21. Our sustainable focused approach has helped us become the first P2P lending company in the industry to turn profitable as on Q4, 2021,” Bhavin Patel, CEO and co-founder, LenDenClub told BusinessLine.

“We believe that the current year will also witness muted growth in the first quarter and then grow exponentially over the next three quarters,” he said.

Recently, LenDenClub also became the first P2P lending company to integrate with Google Pay, going live on its platform, allowing customers to borrow and lend seamlessly, along with making payments. Additionally, the fintech lender has expanded its flagship digital lending platform InstaMoney pan-India.

Financial inclusion

From its presence in seven States, the company has expanded its offering to borrowers from over 19,000 pin-codes. This has benefited population living in rural regions not covered by banks especially, in the small ticket loan category of up to ₹10,000. The company has one of the lowest NPAs in the digital lending space of 3.95 per cent.

LenDenClub aims at fostering financial inclusion and in serving the marginalised, low-income groups and credit-starved MSMEs. The company hopes to scale up disbursement volumes to ₹500 crore on a month-on-month basis by FY23-24, while working towards becoming one of the top lending institutions in the country.

CREDIT: https://www.thehindubusinessline.com/money-and-banking/fintech-start-up-lendenclub-turns-profitable-in-q4-of-fy21/article34504294.ece

LenDenClub is India’s largest alternate investment platform which started operations in India in 2015. We have been helping lenders diversify their investments beyond traditional investment instruments ever since.



The Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by Innofin Solutions Private Limited, and does not provide any assurance for repayment of the loans lent through its platform.

LenDenClub is an Intermediary under the provisions of the Information Technology Act, 2000 and virtually connects lenders and borrowers through its electronic platform via the website and/or mobile app.

The lending transaction is purely between lenders and borrowers at their own discretion, and LenDenClub does not assure loan fulfilment and/or lending simple interest. Also, the information provided on the platform is verified or checked on the best efforts basis without guaranteeing any accuracy of the data/information verification. Any lending decision taken by a lender on the basis of this information is at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower, fully or partially. The risk is entirely on the lender. LenDenClub will not be responsible for the full or partial loss of the principal and/or interest of lenders’ lending amounts.

*This is an annualized yield and is subject to the maximum FMPP tenure, which is 5 years. P2P lending is subject to high risk and may cause an entire loss of principal.

*P2P lending is subject to risks. And lending decisions taken by a lender on the basis of this information are at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower.

** Average value mentioned is the weighted average of simple interest received by lenders

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