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5 prominent players in the P2P lending industry in India

By Leandra Monteiro

July 06, 2022

  • CRED Mint
  • Digital Lending
  • Faircent
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P2P Lending, IndiaP2P lending, as a significant component of the FinTech sector, is quickly becoming the most popular alternative investment option. In this regard, of all the recent FinTech disruptors, P2P lending is by far the most creative. With its unique provision of tech-enabled solutions spanning onboarding, underwriting, and disbursement, P2P lending platforms can all the demands in the loan cycle.

Here are 5 P2P lending companies leading the way:

FinTech giant BharatPe launched a new P2P lending product to enable consumers to lend any extra money they may have in their savings accounts to borrowers and earn higher returns on that amount versus traditional banking instruments.

BharatPe’s P2P offering will enable individuals to invest and borrow at 12% interest through the ‘12% Club’ app. For the consumer product, BharatPe has partnered with LenDenClub and is in the process of onboarding Liquiloans.

In November 2021, CRED Mint has been rolled out as P2P non-banking finance company. CRED Mint focuses on the lending side of transaction, or what it calls, ‘investment’. So, CRED members can lend – or invest – INR 1-10 lakh on CRED Mint.

Cred’s P2P product allows its members to earn up to 9% interest by lending to other members and borrow at 12% to 16% through the offering.

Faircent.com is an online platform where people lend money directly to the people who seek to borrow, thereby eliminating intermediaries. The company has also improved the access for New Born Startups, SMEs, and MSMEs by felicitating loans by connecting them to individuals and institutional lenders.

Faircent is enabling over 30,000 loans every month to be generated on its platform, which amounts to over INR 120 crore. To date, loans totaling INR 3,100 crore have been passed on the P2P lender’s website and the company is aiming to facilitate another INR 2,000 – INR 3,000 crore in the next fiscal year.

Fi is also set to roll out a P2P investment option called ‘Fi Jump’ that allows users to earn up to 9% annual returns on their investments. For this, it has partnered with P2P non-bank Liquiloans. P2P investment is a financial product that directly connects investors to borrowers.

LenDenClub is one of the largest peer-to-peer lending platform that provides an alternate investment opportunity to investors or lenders looking for high returns with creditworthy borrowers looking for short-term personal loans. With 2 million+ investors on board, LenDenClub has become a go-to platform to earn returns in the range of 10%-12%.

ALSO READ: Global Lending Vendors & Landscape Report Q1 2022

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