Monexo

lendingp2p lending

FOUNDING YEAR: 2014
LOCATION: India
Last Update: 10/07/2020

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About

Monexo is an online peer to peer (P2P) lending marketplace providing affordable loans to salaried borrowers by connecting them to savers. Its built on 3Ds: Digital - 100% digital process - paperless, simple and fast Data Science - Loan decision in 1 minute to borrowers based on our scoring engine with traditional and alternative data Democratisation - Financially inclusive as underbanked borrowers get loans at reasonable rates Monexo provides superior customer experience and removing the friction in the borrowing and lending process with the use of robust technology and innovative processes.

MEDICI Analysis

Monexo is an online peer to peer lending platform which allows borrowers to borrow money. It allows the loans between HK$50,000 and HK$1M or up to 48x of monthly rental for a loan tenure ranging between 6-48 months.

Focus

PRODUCTS & SERVICES

Monexo is a peer-to-peer (P2P) lending marketplace where people borrow and lend money to each other. It provides an online based alternative financing model. The platform provides the loans such as Personal Loans, Personal Loans for Salaried, My First Loan, Wedding Loans, Debt Consolidation Loans, Education Loans, Travel Loans, Home Renovation Loans etc.

REVENUE MODEL

As a marketplace, we earn a service fee from borrowers and lenders based on success. We charge fees of 2.5% of loan amount from borrowers on loan disbursal and 2.5% of monthly repayments received by the lenders.

MAIN CLIENTS

Retail Borrowers

EXISTING PARTNERSHIPS

Cube Wealth,CRIF Highmark

PRIMARY PROBLEM SOLVED

There is a huge credit gap in India in terms of credit needs of individuals and availability of funds. Through our P2P lending marketplace, we enable affordable access to finance for borrowers and provide attractive returns to savers with a new asset class – by democratizing finance and bringing efficient flow of capital.

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

Traction

VALUATION / MARKET CAP:

$280 K in 2015

REVENUE

$0 - $99k in 2017

REVENUE COMMENT:

Awards and Recognition 1. Super Startup Award - https://www.monexo.co/in/blog/monexo-won-superstartups-india-awards/ 2. Best Fintech Startup Award at CII Startupreneur Summit - https://www.monexo.co/in/blog/monexo-wins-best-fintech-startup-award-at-cii-startupreneur-summit-in-chennai/ 3. Covered in Bloomberg Innovation Series - https://www.bloomberg.com/news/videos/2017-08-04/quick-loan-approvals-using-machine-learning-video

NUMBER OF TRANSACTIONS:

1 K in 2017

ACTIVE USERS:

2600 borrowers applied for loans and 1100 applied to become lenders as on 15th March 2017 Million in 2017

ACTIVE USERS COMMENT:

Unique features of Monexo P2P lending marketplace 100% digital end to end service to borrowers and lenders Borrowers get a 1 minute loan decision with through our scoring algorithm and quick funding at attractive rates. Lenders find it simple and easy to invest with the ability to compound earnings and earn attractive returns. Founding team has 70+ years of combined experience Strong partnerships with trusted brands such as IDBI Trustee Services (escrow a/c), CRIF Highmark (credit bureau), India Stack & Jocata, and Kochar & Co (legal) Streamlined process fund movement between borrowers and lenders through escrow mechanism. Low cost of borrower acquisition.

People

FOUNDERS

Sonal Bengani

M Sundar

BOARD MEMBERS AND ADVISORS

Atul Malik

Vivek Vig

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Cyberport

Cyberport Hong Kong

KEY EMPLOYEES:

Dharm Shankar Srivastava(Solution Head)

Kevin Samuel Vineeth(Business Development)

COMMENT:

As a team of founders, we bring complementary skill sets,decades of experience from banking, financial services, technology,consulting. We are passionate about how we can democratize finance.

Momentum

FUNDED

YES

TOTAL FUNDING

$500 K

DATE OF LAST FUNDING

Dec 2014

SEED & PRIOR FUNDING

$500 K

SEED CLOSED ON

Dec 2014

LISTED

NO

For Investors

FUNDING NEEDED:

$2 M

USES OF FUNDS RAISED:

1. Technology, Team Building, Marketing

MONTHS LEFT WITH CURRENT CASH BURN RATE:

6 months from 11 Sep, 2017

COMPETITORS:

Traditional Banks and NBFCs, P2P lending companies e.g.: ICICI bank

Innovation Programs

BASICS

FOUNDING YEAR:

2014

LOCATION:

India

Views:

295 VISITORS | 773 VIEWS
LATEST FUNDING ROUND

$500 K

TOTAL EMPLOYEES
11-50

About

Monexo is an online peer to peer (P2P) lending marketplace providing affordable loans to salaried borrowers by connecting them to savers. Its built on 3Ds: Digital - 100% digital process - paperless, simple and fast Data Science - Loan decision in 1 minute to borrowers based on our scoring engine with traditional and alternative data Democratisation - Financially inclusive as underbanked borrowers get loans at reasonable rates Monexo provides superior customer experience and removing the friction in the borrowing and lending process with the use of robust technology and innovative processes.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Monexo is an online peer to peer lending platform which allows borrowers to borrow money. It allows the loans between HK$50,000 and HK$1M or up to 48x of monthly rental for a loan tenure ranging between 6-48 months.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

Innovation Programs

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Monexo

About

Monexo is an online peer to peer (P2P) lending marketplace providing affordable loans to salaried borrowers by connecting them to savers. Its built on 3Ds: Digital - 100% digital process - paperless, simple and fast Data Science - Loan decision in 1 minute to borrowers based on our scoring engine with traditional and alternative data Democratisation - Financially inclusive as underbanked borrowers get loans at reasonable rates Monexo provides superior customer experience and removing the friction in the borrowing and lending process with the use of robust technology and innovative processes.

Focus

PRODUCTS & SERVICES

Peer to Peer Lending Marketplace Explainer Video - https://www.youtube.com/watch?v=jieClkJMlEc&t=8s

REVENUE MODEL

As a marketplace, we earn a service fee from borrowers and lenders based on success. We charge fees of 2.5% of loan amount from borrowers on loan disbursal and 2.5% of monthly repayments received by the lenders.

TOP PROBLEM SOLVED

Monexo is solving the problem of “high cost of credit or lack of credit”. Individuals seeking a personal loan often fall prey to predatory lending or payday loans and are charged interest rates as high as 100%. The first time borrower does not have access to banks and resorts to borrowing from moneylenders at high interest rates. Beyond these high costs, the current processes are inefficient with lots of paperwork and waiting time that may take weeks.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

KEY DIFFERENTIATORS

We believe in innovative and best processes. We are creating the industry standards for P2P lending and improving how people borrow and lend. Monexo has many FIRSTs in India as a P2P lending company: Oct 2016 - First truly digital platform Oct 2016 - First 100% paperless Oct 2016 - First to provide escrow account feature Oct 2016 - First to have credit bureau membership & bureau reporting Dec 2016 - First to launch auto-invest for lenders Feb 2017 - First to provide 1 minute loan decision to borrowers

PRIMARY CUSTOMER TYPE

Consumer

PRODUCT ATTRIBUTES

Customer facing

STRATEGIC CLIENTS AND PARTNERSHIP

CRIF Highmark : Credit Bureau Partner

CRIF Highmark : Credit Bureau Partner

People

FOUNDERS

Sonal Bengani

M Sundar

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO: Mukesh Bubna

CTO, FOUNDER: Sonal Bengani

COO: Sundar Mahalingam

employee: Dharm Shankar Srivastava(Solution Head)

employee: Kevin Samuel Vineeth(Business Development)

FOUNDER: M Sundar

TEAM COMMENT:

As a team of founders, we bring complementary skill sets,decades of experience from banking, financial services, technology,consulting. We are passionate about how we can democratize finance.

BOARD MEMBERS AND ADVISORS:

Atul Malik , Vivek Vig

INVESTORS:

Cyberport

Cyberport Hong Kong

Cyberport Hong Kong

Cyberport Hong Kong

Cyberport Hong Kong

Momentum

FUNDED

YES

TOTAL FUNDING:

$500 K

LISTED

NO

FUNDING SERIES
Seed Jan 2016 --- USD500 K at a USD15 Mvaluation Comment on Seed Seed Round raised through angel investors, friends and family