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In December 2019, the RBI increased the lending limit on P2P platforms to Rs 50 lakh, up from the previous limit of Rs 10 lakh. [8] In 2021, LenDenClub was chosen to participate in the Microsoft for Startups program and its co-founders Bhavin Patel and Dipesh Karki were featured in the Businessworld's BW Disrupt 40 Under 40 list.
MobiKwik is an Indian financial technology company, founded in 2009 that provides a mobile phone-based payment system and digital wallet. [3] [4] In 2013 the Reserve Bank of India authorized the company's use of the MobiKwik wallet, [5] and in May 2016 the company began providing small loans to consumers as part of its service.
Social investors can begin by lending as low as INR 100 through the Rang De platform. It partners with non-governmental organisations and micro-lending institutions to screen borrowers at the grassroots level. The platform keeps track of disbursements and returns, which the investor can withdraw or reinvest. [5] [1] [16]
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Peer-to-peer (P2P) lending is a way to connect individual lenders with individual borrowers. P2P lending sites like Prosper facilitate loans and act as an alternative to a traditional bank loan.
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