Company News

Mahindra Finance Invests INR 40 Million In RupeeCircle

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We are thankful to Mahindra Finance, one of the leading Non-Banking Finance Company in India to provide seed funding of INR 40 million.

Starting off in 2018, we consider this as a major milestone to drive our vision towards “making borrowing better & lending smarter” with our Peer-to-Peer (P2P) finance platform. Within the last 6 months, we have been able to enrol 2000+ borrowers, 200+ investors & 100+ channels partners on our platform. Our team strength has registered tenfold growth increasing from 5 to 50+ within a short duration.

Commenting on the investment, Ajit Kumar, Founder & CEO, RupeeCircle, said – “Our Peer-to-Peer (P2P) lending platform leverages data science, advance machine learning algorithm & cloud infrastructure to provide risk grades for borrower profiles and ensure accurate credit underwriting. We have been able to deliver 24% average annual returns on investments to our lenders while keeping the default rates below 1%. With this funding we plan to expand our team, improve our security infrastructure, optimize our credit underwriting algorithm & scale our capabilities to reach one million individuals by 2025. We are honoured that Mahindra Finance team has shown faith in our vision of driving the financial inclusion in India”

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This article is authored by Nikhil Prabhakar, Head of Marketing & Products at RupeeCircle. He is an alumnus of IIM Ahmedabad & ESCP Paris and has 10+ years of work experience across multiple industries like Fintech, IT & Energy. He is an active investor across equity, derivatives, debt and real estate.

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