Faircent.com, India’s largest P2P lending company and first to receive the Certificate of Registration (CoR) as an NBFC-P2P, has recently raised capital in a funding round. The latest funding, led by Singapore-based Das Capital and Gunosy Capital, also saw participation by existing investors Starharbor Asia Pte Ltd, and M&S Partners Pte Ltd (Sin Growth Partner Pte Ltd).

The newly acquired funds will be utilized towards strengthening the platform’s technology, expanding distribution and adding unique loan offerings for its lenders. 

Speaking on the investment, Rajat Gandhi, Founder and CEO, Faircent, commented, “Faircent has worked hard to successfully establish P2P lending as an asset class in India. Currently, loan originations on the platform are at an annualized rate of Rs. 600 crores. With support from our marquee investors we will focus on taking financial inclusion to every part of India while delivering on the expectations of all our stakeholders” 

“We have been investing in progressive companies which are game-changing and are leading the Indian Market with their technology-based solutions and practices. We believe that Faircent.com not only has strong asset and credit-based models of financial services but as a pioneer of the P2P lending industry in India has successfully leveraged its learnings to achieve strong market leadership and position. We are happy to continue working with them as they transform the lending landscape in India and grow the market for all involved”, said Shinji Kimura, CEO, Das Capital.

In May 2018, Faircent.com became the first platform to receive the Certificate of Registration (CoR) as an NBFC-P2P from the Reserve Bank of India (RBI). Introduction of regulations for the P2P lending industry helped to unlock the alternate credit supply. Over the past year, Faircent.com has collaborated with more than 300 partners to offer a variety of product options suited to meet the investment objective of every lender & Borrower – from long-term to daily/weekend loans and from line of credit to working capital loans – and facilitated loans worth Rs. 200+ crores till date through the platform.

P2P lending can go a long way in easing the liquidity crisis currently afflicting the Indian financial market. The uphill task faced by millions of small businesses across India to raise finances has affected economic activity and job creation. By taking organized lending to the MSMEs, SMEs and underbanked individuals across India, Faircent.com has seen an increase in loan origination by over 20x since 2018. A differentiated customer-centric approach that leverages automation and delivers an unparallel user experience to both lenders and borrowers has ensured increased disbursement through the Faicent.com platform.

The news was carried by most leading financial newslines. Click on links below to read more:

https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/faircent-raises-fresh-funding-from-investors-led-by-das-capital-gunosy-capital/articleshow/70657243.cms

https://yourstory.com/2019/08/startup-funding-p2p-lending-faircent-das-capital

https://inc42.com/buzz/faircent-gets-funding-from-das-capital-and-gunosy-capital/

https://www.theindianwire.com/startups/gurugram-based-faircent-secures-fresh-round-funding-das-capital-others-160334/

https://www.techcircle.in/2019/08/14/p2p-lending-platform-faircent-gets-funding-from-das-capital-others

https://www.dealstreetasia.com/stories/faircent-chiratae-emotix-tjori-149382/