HomeMedia CenterHow LenDenClub became India’s first P2P lending startup to hit profitability

How LenDenClub became India’s first P2P lending startup to hit profitability

Launched in 2014, Mumbai-based lending startup LenDenClub grew over the years on the back of strong execution and automation. It registered loan disbursements close to Rs 600 crore in FY21, registering a year-on-year growth of 1,000 percent.

 

Suresh (name changed for anonymity) was in dire need of money to perform the last rites of his father. Instead of seeking help from people he knew, he decided to approach an NBFC for a small amount. But despite earning a decent salary, his request was turned down based on the NBFC’s default in processing some EMIs towards the parent bank.

The loan denial had nothing to do with Suresh’s background or credibility.

Sometimes, a trigger is all that is needed to give birth to a multibillion-dollar idea.

Suresh’s ordeal was the trigger that led Bhavin Patel, his colleague at Electronica Finance Ltd, and Dipesh Karki to launch Mumbai-based Peer-to-Peer (P2P) lending platform LenDenClub.

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.

About

Lending

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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