News expands with peer-to-peer lending platform

Monday 18 May 2020 11:58 CET | News

India-based fintech has launched its peer-to-peer lending platform, where one can lend from EUR 6 to EUR 61 million to multiple borrowers.

The platform is a registered NBFC with the Reserve Bank of India, which offers peer-to-peer lending solution with an aim to solve short-term cash requirements of borrowers from all walks of life.

According to Economic Times, 5paisa Loans screens every borrower coming on its platform with more than 100 variable data points like age, location, earnings, previous loan history, social profile, expenditure, among others and presents the information through a unified score for lenders to choose from.

Therefore, rather than lending to an individual borrower, the platform enables lending to a portfolio of borrowers, thereby, reducing risk and diversifying investment.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords:, peer-to-peer, NBFC, Reserve Bank of India, India, loans
Categories: Banking & Fintech
Countries: India
This article is part of category

Banking & Fintech