Leading Peer to Peer lending platform, i2iFunding.com, has raised second round of angel investment of about ₹5 crores. This investment round was led by SucSEED Venture Partners, Manish Poddar, a serial entrepreneur and investor, and a group of angel investors from globally renowned consulting and private equity firms. The new round takes the total funds raised by i2iFunding to about ₹7 crores. The funds would be utilised for further strengthening its technology infrastructure and geographical expansion.
Vaibhav Kumar Pandey, Co-Founder, www.i2iFunding.com said, “The opportunity is immense, India will save more than US$10 trillion over next ten years. We are developing the technology that can easily help to channel these savings to credit starved small borrowers. It is our mission to provide quick credit to small borrowers at appropriate interest rates. We will help the Government of India in its objective to further increase financial inclusion. The recent regulations by the Reserve Bank of India is a shot in the arm and we consider it as a strong endorsement of our mission. We will utilize the funds to develop user-friendly interface supported by cutting edge technology infrastructure based on big data for credit appraisal.”
SucSEED Venture Partners: Peer to Peer lending is set to redefine retail lending in India and add a clearly winning asset class for wealth managers, a phenomenon already established in the developed countries and increasingly successful in developing countries like China. With the RBI regulations, the industry is well positioned to become main stream very quickly. SucSEED Venture Partners' Network believes that i2iFunding has right team and technology to lead the P2P Lending in India. We feel thrilled about the vision and enthusiasm of the founding team and are pleased to partner with them on this exciting growth story.
Manish Poddar who is a serial entrepreneur and investor added, “The dedication and consistent hard work of the entire team at i2iFunding has been extremely impressive and overwhelming which has drawn us towards them. The team has the right vision and strategy and has clearly demonstrated as being the thought leaders of the industry with several industry firsts to their name. The strong customer centric approach providing seamless and transparent user experience clearly shows the maturity of the founding team. We believe that i2iFunding is well placed to lead the P2P lending space in India supported by the recent RBI regulations which will help the industry achieve sustainable yet robust growth.”
According to Saket Jain, Director-Strategy Deployment at Flipkart, “P2P lending has been progressing at a lightning pace in India. The recent RBI regulations clearly validates the business model and will propel the industry to grow explosively to the next level. I am extremely happy to be able to support and be a part of the tremendous journey which i2iFunding is overtaking to bring an evolution in the P2P Lending industry in India. The dedication, maturity and consistent hard work of the entire team of i2iFunding has been extremely impressive which has drawn me towards them with trust and affirmation.”