LenDenClub to accelerate hiring by 83% in FY 21-22
Mumbai, 22nd April, 2021:
- Aims to triple headcount from current team size of 60 to approx. 180 by end of financial year
- Eyes MTs and GETs through Campus Placements at IIMs, top B-Schools and engineering colleges
- Focussing on building leadership & dedicated teams across all functions
LenDenClub, one of the leading peer-to-peer (P2P) lending platforms in India, recently announced that they have scaled up their hiring by 83% vis-à-vis last year, offering employment to approximately 45 new candidates including both lateral and campus hires. The company is eyeing to triple its current team size from a headcount of 60 to approximately 180 by the end of the financial year.
With the second wave of the pandemic hitting the country once again, essential services like banking being conducted remotely, online banking is yet again seeing a huge surge among the population. Digital payments and lending has seen a rise in general, thus LenDenClub has set to grab this opportunity to generate employment, upskill the existing team and recruit fresh talent. While other businesses and organisations in the market are slowing down on hiring and team expansion, the company has been riding on this wave, witnessing a spike in demand for digital loans available on its platform.
To keep up with the growth, the company has identified such certain niche and critical sections contributing to the business and the hiring process has been aggressive too. LenDenClub’s headcount has shot up hiring rampantly as compared to the last year, having completed a selection of management trainees (MTs) and graduate engineering trainees (GETs) through Campus Placements and having successfully selected them from IIMs, top B-Schools and engineering colleges. The recruits will skilfully be mentored to make them industry ready for departments like marketing, product & technology and risk management.
Speaking on the development, Bhavin Patel, Co-founder & CEO, LendenClub
said, “We are excited to announce our expansion plans at a time where many companies have slowed down and even stopped on-boarding new talent. We have had a great growth year in FY 2020-21 and have set aggressive goals for ourselves for this fiscal as well. LenDenClub has always believed that people are the fulcrum of any organisation. A strong team can make or break any business. We are well placed to meet the surge of digital loans during the pandemic and achieve our set targets. The rapid expansion of our team itself is a testimony to the potential of the sector, and we look forward to welcoming individuals who share our vision for the P2P lending space in the country while driving growth and competitiveness for LenDenClub.”
LenDenClub is looking to hire individuals to take up leadership positions to drive the P2P lending space while growing further as a market leader. The leading P2P player is looking to hire vertical leads and managers for Branding, Digital Marketing, Sales & Distribution, and investment etc. They are also looking for management trainees to help with Business Development, Alliances, Product Development & Strategy, Customer Support, and Wealth Management, along with graduate trainees for software development and market analysis.
The P2P Lending sector in the country has seen a huge boost over last year, owing to their USPs’ such as — small ticket size, simple and intuitive onboarding procedure and faster loan disbursals. Players such as LenDenClub have expanded aggressively through the year reaching out to a much wider customer base that was not served by the traditional lenders.
LenDenClub is the largest peer-to-peer platform in India, having disbursed more than ₹500
crores worth of loans. It aims to foster financial inclusion by leveraging technology to support
borrowers with hassle-free loans, even in the remotest parts of the country, while providing
a new-age investment option for investors. Listing only pre-verified loans, LenDenClub offers
investors a convenient medium to browse thousands of loans to earn better than fixed
deposits, mutual funds etc. With 100% funding record for its borrowers, LenDenClub currently
enjoys a user base of one and a half million and disburses on an average 2.5 lakh loans
annually. While the platform hosts investors and borrowers across India.
An application offered by LenDenClub, InstaMoney is the go-to platform for salaried
borrowers to avail instant personal loans. The platform offers you quick loans at an interest
rate ranging between 0% (minimum for no cost EMI finance) to 4% (maximum) per month for
a tenure of 1-3 months. The loan amount offered under the category ranges between Rs.
5000 & Rs. 15000 and is applicable for people without any default/write-off in past.
LenDenClub also offers small merchant loans to borrowers who are into businesses. The loan
amount goes upto ₹1,50,000 in case of merchant loans. An extremely user-friendly process,
their mobile applications only requires basic KYC details, and the applicant’s salary bank
statement. Since InstaMoney does not require any credit history, it is a more accessible route
for instant personal loans than banks.