Paisabazaar.com Crosses Rs. 5000 Crore disbursal of Unsecured Loan & Targets Rs. 6700 Crore by Next Year
Thursday, 26 July 2018, 01:05 IST
Holding the head high, Today Paisabazaar.com, India’s largest online market place has delighted its customers by disbursing Rs. 5000 crore of unsecured loans and intends to disburse Rs. 6700 crore in the next upcoming year. Established in 2014, the company has reached this milestone in the time period of 49 months with a YOY growth of 170 percent in unsecured loan segment. “This strong growth has made us the market leaders for last 18 months yet even at such volumes we have reached only two percent of India’s unsecured loan market today. We aim at disbursing USD 1 billion in next 12 months and attain ten percent of the unsecured loan market in next three to four years,” affirms Naveen Kukreja, CEO & C0-founder, Paisabazaar.com.
Expanded it reach by 10X in the last one year, Paisabazaar.com has sourced 88 percent of unsecured loan to salaried professionals while it recorded loan enquiries from over 1000 cities and town every month. While the Top 10 metros held 70 percent share in the Rs. 5000 crore, the next 30 cities account for 12 percent of the share. Having made money lending extremely simple and convenient for the customers, Naveen thanks government initiatives like IndiaStack, the increasing Smartphone’s users and also his partners who have been extremely agile and digitally focused to help them. Paisabazaar.com works with over 60 partners, including top public & private banks, NBFC’s and digital lenders. “We are delighted with Paisabazaar.com s milestone. It has been a valuable partner for us in offering consumers an enhanced experience and while impressive, the milestone is not a surprise for us, given the customer-focused innovations, we have introduced together," said Deep Pal Singh, Head, Client Acquisition, New Business - Standard Chartered Bank.
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