Peer to Peer lending industry in India started taking shape when the huge gap that existed between formal sources of lending and average borrowers conspicuously surfaced. For centuries, the panorama of lending services was dominated by banking sector.
Having addressed an untapped market, P2P Lending has revolutionized the entire credit management scenario of the country. P2P has opened the doors of lending as well as borrowing to everyone and has empowered all sections of society with flexible processes that assure lucrative returns.
The financial product has targeted those specific sections that were predominantly neglected by traditional banks. With extensive reach, competitive rates of interest, faster processing of credits, and a great degree of flexibility, P2P has successfully upended the lending sector in the country.
Small paradigm shifts unveiled by this format in the Indian Fintech space have gained significant momentum which is bound to keep growing. Not to mention, regulations levied by RBI recently have attempted to reform this industry and have carved out a trajectory for the robust growth of this segment.
The brainchild of two industry experts, Rajiv Ranjan and Ambar Kasliwal, PaisaDukan.com is set to thrive in this progressive and rapidly evolving industry segment as a robust platform that would enable people to achieve their life goals and financial freedom.
The online marketplace is an avant-garde approach towards lending and wealth management and is empowered to set new standards bringing to the plate a comprehensive portfolio carrying unparalleled products and tools for faster service and open conversations.
Soon to embark on its journey, P2P Lending Market place PaisaDukan.com is founded, fully owned & promoted by BigWin Infotech, a government-recognized & ISO 9001:2015 certified start-up; one of those very few entities that have applied for an NBFC-P2P license with Reserve Bank of India.
An achievement like this demonstrates that the company is off to a great start; which has enabled it to carve out a success path leading to brand creation and industry leadership.
"We're leading the governance of a new industry which makes us even more committed to developing ethical and responsible ways to bring greater value and better opportunities to customers", adds Rajiv.
PaisaDukan.com is geared to realize the founders' profound vision of expanding the reach of Peer Peer Lending and molding innovative ways for the industry to operate. During a conversation with Startup City Magazine, Rajiv M Ranjan – Founder at PaisaDukan.com shares, "People find it difficult to borrow a loan from banking institutions for various reasons like income criteria or risk profile.
Through PaisaDukan.com, we aim to provide our clients with a secure, felicitous, and convenient financial platform that would make lending and borrowing of money a five-finger exercise.
This means setting the highest standards for transparency and behaviors, which constitute our business principles." Through this unique venture, the founders envision a revamped landscape of credit and investing in India with structured and organized processes.
The core team has banked upon the best of its expertise and resources to introduce creative and groundbreaking solutions that embrace the assurance of delivering great value along with a superior and peerless consumer experience.
PaisaDukan.com's Sui genesis approach takes its operations beyond just basic lending. Backed by deep industry analysis and cohesive digital strategy, the rich and diversified portfolio is strategically developed to spearhead P2P lending services for untapped sections of the market.
It covers certain areas which financing institutions don't foray into. These include loans for functions such as coaching classes for a student; fees for Medical, Engineering, and Management education, and fees for International Schools which cost Millions of rupees.
What allows the entity to carve a niche for itself in this market is that it offers specialized services catering to the needs of those consumers who find it difficult to timely secure a loan from a bank or other financial institution.
For Borrowers
Easy/quick application process
Fast decision-making
Competitive rates
Convenience of online platform
Repayment flexibility
Trying out a new way of borrowing
Little documentation required
For Lenders
Better return on investment
Trying out a new way of lending/investing
Easy/simple to use
Ability to specify risk aversion/return
Ability to choose who to lend to
Quick return on investment
PaisaDukan keeps a steadfast devotion to fulfilling its commitment to delivering world–class experiences. It strictly adheres to efficient and convenient processes towards bestowing seamless experience to the end users.
The team keys on utilizing the best of technology to craft groundbreaking solutions that are empowered to bring about more value and are geared to serve all. Such a marketplace would help level the playing field while creating better opportunities for people at very low costs.
Speaking about his vision for PaisaDukan.com, Rajiv shares, "We call our evolving P2P lending platform PaisaDukan.com a marksmanship of innovative Digital Excellence and a perfect marketplace connecting Borrower and Lender.
Our Vision is to Excel in Providing Every Indian a Robust and Transparent Technology Platform to meet their Life Goals and Financial Freedom."
Rajiv Ranjan – Founder & Managing Director at BigWin Infotech
Rajiv is a top technology professional having a track record of more than 18 years of leveraging technology-based solutions to drive business value. He's executed multi-million dollar projects for companies like Bank of America N.A., Infosys, Blue Star Group, Welspun Group, etc.
Rajiv was involved in some of the major path-breaking projects such as the Cheque Truncation System (CTS), Real Time Gross Settlement System (RTGS), National Electronic Fund Transfer (NEFT), and Negotiated Dealing System (NDS).
He has been an active participant in the major initiatives of Institute of Development and Research in Banking Technology (IDRBT). Rajiv holds a degree in Computer Science Engineering and is an alumnus of IIMC.
Ambar Kasliwal – Cofounder & Director at BigWin Infotech
Ambar Kasliwal, FCA, is a practicing CA, having industry experience of more than 15 years. He is a senior partner of Jain Kasliwal& Associates LLP. He's advised over 60 top companies in the field of media & advertising, Export houses, logistics, Textime, and heavy industrial companies as clients including industry leaders.
Ambar has also worked closely with Govt. organizations in Mumbai and cultivated strong working partnerships with local and international PE houses. He's also advised his clients on setting up various offshore companies in Mauritius, the Middle East, and BVI.
