• FOUNDING YEAR: 2013
    LOCATION:
    India
    REGION:
    Haryana
    Last Update:
    9 Sep, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Online Lending (P2P Lending). Trims the lengthy process and transaction fees charged by banks and FIs. Allows borrowers to get a lower rate of interest and lenders receive high returns.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Retail borrowers and Retail investors
EXISTING PARTNERSHIPS:
Websites or Companies which can refer loan applicants with at least good credit rating and prospective investors
COMMENT
Provides a marketplace for borrowers and lenders for negotiation, lending/borrowing negotiate and reduces the cost of capital through unique reverse auction engine. The platform has a tie-up with Transunion to leverage its data analytics and algorithmic underwriting technology. Faircent offers Auto Invest feature, a fully-automated feature that matches a lender’s investment criteria with the borrower’s requirements and automatically sends proposals to the borrower on behalf of the lender, based on pre-selected lending criteria such as loan tenure, amount, and risk profile.

PEOPLE

FOUNDERS:
Rajat Gandhi, Vinay Mathews, Nitin Gupta
Board Members and Advisors:
T V Mohandas Pai
NUMBER OF EMPLOYEES:
1-10
INVESTORS:
M&S Partners, Ashish Tiwari, Devesh Sachdev, Aarin Capital Partners, JM Financial, T V Mohandas Pai, Brand Capital, Microsoft accelerator, Incofin Investment Management, Muthoot Fincorp, Elevate Innovation Partners, Das Capital, Starharbor Asia Pte Ltd
KEY EMPLOYEES:
Rajat Gandhi (CEO); Vinay Mathews (COO); Shakti Goel (Chief of Product, Technology); Shivam Gupta (CRO); Karun Thareja (Head of Marketing)

TRACTION

NUMBER OF TRANSACTIONS:
30 K
ACTIVE USERS:
0.0200

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$9.65 Millions
DATE OF LAST FUNDING:
Dec 2017
TOTAL FUNDING COMMENT:
The company will use funds to strengthen its technology especially mobile, expand its geography, and marketing. (Dec. 2017)
SEED & PRIOR FUNDING:
$4.3 Millions
SEED CLOSED ON:
Jun 2015
SEED PRIOR FUNDING COMMENT:
An undisclosed amount raised in venture round in Oct 2015.
FUNDING SERIES:
SERIES A
$1.5 Millions Closed: Aug 2016
SERIES B
$3.9 Millions Closed: Dec 2017
COMMENTS
SERIES A : An undisclosed amount was funded in May 2016.
LISTED:
NO

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