Pune: LenDenClub, one of India’s fastest growing P2P lending platforms, has witnessed a 60% increase in the number of lenders and borrowers transacting on their P2P platform in Pune. P2P lending platforms have seen an increase in popularity, trust and up-take across the nation, and Pune has reflected a similar growth pattern. The platform connects lenders looking to make higher returns with creditworthy, salaried borrowers seeking short-term personal loans.
LenDenClub currently enjoys a borrower base of around 8900, with a lender base of more than 3100, across India. The platform’s unique features enabling loan approval within 18 hours of request, while disbursement within only 3 days, has made it one of the preferred choice for borrowers in the city. Lenders, too, have been experiencing rewarding returns in a short span of time.
On sharing his views, Bhavin Patel, Founder & CEO, LenDenClub, said, “LenDenClub was established with a view of helping a large number of salaried individuals who do not get access to credit from traditional banking & financial institutions. Through our platform, we aim to foster financial inclusion by leveraging technology to support borrowers and lenders across the nation.”
“Pune is one of the fastest growing cities, hosting a majority of millenials by being an educational hub, while also due to its booming job market. The new-age generation is tech-savvy and hence appreciates the digital nature of every business, including financial services, due to their prompt, effective and transparent nature. This is one of the reasons that have led to an increase in the number of registrations on the platform and thus, the acceptability of P2P lending platforms in the city”, he added.
With peer-to-peer lending platforms now being declared under the purview of RBI as NBFCs, LenDenClub will further gain trust amongst both, lenders and borrowers. The platform will continue to redefine loan disbursement process in new age India.
Credit Sakal Money