LoanZen is a peer to peer lending marketplace aiming to connect small business borrowers with lenders for short-term working capital finance. The company has recently received NFBC license from RBI.
PRODUCTS & SERVICES:
Peer to Peer marketplace lending platform to offers loans to small businesses in commercial vehicle category.
Lenders - Enables them to get returns of 15-30% from investments.
Borrowers - Get unsecured short-term loans for working capital.
The average ticket size of loans varies between INR1-10 lakhs.
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Treebo Hotels - To offer loan to the hotel partners of Treebo and to get relevant data from Treebo.
NBFCs - They are the lenders in Loanzen platform.
Provides credit rating to the borrowers which enables them to get a loan at cheaper rate and lenders to select quality borrowers.
MEDICI analysts will analyze Loanzen soon
Insufficient information for accurate analysis
DATE OF LAST FUNDING:
TOTAL FUNDING COMMENT:
The company is planning to use the fund to expand its team in Bengaluru and grow its loan book(April 2018).