Binit Kumar, CEO, MoneyLoji

Gurugram-based artificial Intelligence driven lending platform Moneyloji has recently acquired a majority stake in fintech startup Inblox Network for $750,000. Inblox is working and conceptualizing products in the field of emerging technologies like Blockchain. Their in-house product, which is currently under development, is a community enabler platform for businesses and emerging tech enthusiasts. The Alpha version is scheduled to be released by July 2019.

MoneyLoji is a subsidiary of Ganesh Leasfin Pvt Ltd, a registered Non-Banking Financial Corporation (NBFC) based in Gurgaon, India. “We see a synergy between a Fintech and emerging technology which going forward will play a vital role in various fields. Since the current vision of Moneyloji is to build consumer-driven lending technologies that can be linked with Blockchain to provide consumers with more data privacy, security and transparency. We found this opportunity in Inblox Network Pvt Ltd and thus the reason for acquisition.” said Kumar Binit, CEO of MoneyLoji, speaking on the acquisition.

The lending platform has been completely driven by Artificial Intelligence and Machine Learning. Currently, processes ranging from approval to disbursal take under 10 minutes owing to the company’s proprietary AI and ML technologies. This acquisition will help Moneyloji launch a similar concept of complete online disbursement for self-employed professionals and SMEs within 8 minutes which is scheduled to be launched by September 2019.

“We see a unified vision of making Inblox network the largest emerging technology-driven tech community focussed on developing community-driven products to bridge the gap between society and emerging technologies.” said Manoj Kaushik, Director of Inblox.

by Megha Bhattacharya
Market Analyst at IBS Intelligence