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Fintech startup Rupaiya Exchange secures angel funding from a clutch of HNIsDelhi-based Rupaiya Exchange, a player in the nascent market of peer to peer lending, has raised $200,000 in angel funding from a group of HNIs and professionals.
In the next one year, the company aims to scale up and facilitate Rs. 100 crore disbursements. So far, the company claims that it has facilitated disbursement of more than Rs. 9 crore. The platform which has a pan India presence, accepts the loan applications after it passes a combination of more than 100 parameters.
By ET Tech
Rupaiya Exchange raises $200,000 in funding.Rupaiya Exchange, a peer-to-peer (P2P) lending aggregator, has raised USD 200,000 (about Rs 1.36 crore) in angel funding from a group of high-net-worth individuals (HNIs) and professionals.
The company, which began its operations in November last year, has developed proprietary technology to assess users registered on its platform and perform credit checks on the borrowers.
By Press Trust of India
The time consuming and inflexible process in banks has led to a rise of an industry that has become a viable alternative to replace them. Peer to Peer lending process works through an online platform which connects the borrowers and lenders. This platform does not use its own funds but acts as a facilitator between the two. Instead of going to the banks, applying for a loan and giving them a high interest rate, people have started using P2P platform to get loans instantly and at low interest rates. To give this culture a much required kickstart in the country, RupaiyaExchange came into play.
By Gaurav Sangwani
RupaiyaExchange is a virtual marketplace for peer-to-peer lending which gives access to a pool of consumer loans. It facilitates an Alternative Finance Option and allows people to invest in each other in a way that is beneficial to both the lender and borrower.
The aim of this platform is to provide individuals with alternative finance options. There are lot of individuals who, despite having a credible profile, do not have access to capital through traditional Financial Institutions (including banks, NBFCs etc) or are not able to access cheaper source of financing. Rxchange would like to help such individuals through Rupaiya Exchange platform.
By Shivani Pandita
Peer-to-peer lending allows you to make loans to individuals or participate in pools of loans, limiting your risk. You can use borrowers’ credit scores to decide how much credit risk to take.
By Philip Van Doorn
Rupaiya Exchange has made loaning and borrowing a secure and advantageous process. It is interesting to note that these loans are unsecured personal loans, which can range from applying for your laptop to the loan for a family event, Rupaiya Exchange covers it all.