Online peer-to-peer (P2P) lending platform Faircent — first such lending site to receive NBFC certification from the RBI — has tripled its loan disbursements in tier-3 cities since the last financial year, CEO and Founder Rajat Gandhi told FE Online. Faircent claimed that its disbursements to tier-2 cities as well have nearly doubled during the same period.

Faircent has expanded to over 450 cities in India, Gandhi says. “Awareness created through dedicated marketing efforts about P2P lending as an alternative organised credit medium over unorganised sector has helped us.”

“We have seen a multi-fold growth in the past year, both in terms of the value of transactions carried out as well as the demand for our products. Also, our latest research & analytics report shows that borrowers from these cities are making timely repayments,” said Founder and COO Vinay Mathews.

Click here to read more: https://www.financialexpress.com/industry/sme/indias-first-p2p-lending-nbfc-faircent-rapidly-expanding-presence-in-tier-3-cities/1413204/