Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Mumbai-based a peer-to-peer lending fintech startup, Capzest, has raised $200K in its seed round of funding from Lion Ventures, a seed investment & innovation platform founded by Anurag Mehrotra and Krishnakant Thakur, and other HNI’s, reported ET.
Founded in 2015 by Sayantan Sarkar and Rohan Adlakha, Capzest, is a digital lending platform that has partnered with banks and NBFCs to provide personal loans and business loans to SMEs.
Last year in October, Gurgaon-based online P2P lending marketplace, Faircent.com, secured an undisclosed amount in funding from chairman of Manipal Global Education, TV Mohandas Pai’s led Aarin Capital Partners.
Peer to peer lending, which is still at its budding phase in the country, is already a prospering industry in the developed markets such as the US, UK and China giving stiff competition to banks and traditional lenders. In the US market alone, the industry is valued over $20 Bn and is expected $150 Bn by 2025.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.