<p> Finance Buddha, one of the growing retail lending FinTech platforms in India, is looking at raising next round of funding soon.<br /><br /></p>.<p>Speaking to Deccan Herald, Parth Pande, co-founder and CEO of Finance Buddha said, “We have raised a round of funding from Chennai Angels in January 2016, and would be targeting our next round of fund raising soon.”<br /><br />The company since 2012 has disbursed over Rs 3,000 crore of loans. During last month, it disbursed over Rs 100 crore of consumer loans. “We are targeting to disburse over Rs 2,000 crore of loans such as personal loan, business loan, home loans and loan against property in FY 2016-17,” said Pande. It offers an average unsecured personal loan of Rs 1- 20 lakh, average unsecured business loan of Rs 1-50 lakh, and secured loans up to Rs 15-20 crore or even more. The credit period for average unsecured loans is 1-5 years and for secured loans it is 5-20 years.<br /><br />With offices across 12 cities in India, Finance Buddha has originated loans upwards of Rs 1,000 crore in 2015-16. The company closed the year ending March 2016 with revenues in excess of $3 million. The company originates over 5,000 applications a month, and works with over 20 banks and non-bank financial companies (NBFCs) across the country. <br /><br />“We feel that most of our future decision making will be data driven, and the fact that we have a large customer base of over 100,000 serviced customers and have insights using the same, we would be in a better position to create the necessary momentum to grow volumes from here,” he said.<br /><br /> “Our large customer base gives us great understanding of customers profile and would potentially open up opportunities to work with a new set of diverse lenders who are looking at making their marks on this space,” adds Pande.<br /><br /></p>
<p> Finance Buddha, one of the growing retail lending FinTech platforms in India, is looking at raising next round of funding soon.<br /><br /></p>.<p>Speaking to Deccan Herald, Parth Pande, co-founder and CEO of Finance Buddha said, “We have raised a round of funding from Chennai Angels in January 2016, and would be targeting our next round of fund raising soon.”<br /><br />The company since 2012 has disbursed over Rs 3,000 crore of loans. During last month, it disbursed over Rs 100 crore of consumer loans. “We are targeting to disburse over Rs 2,000 crore of loans such as personal loan, business loan, home loans and loan against property in FY 2016-17,” said Pande. It offers an average unsecured personal loan of Rs 1- 20 lakh, average unsecured business loan of Rs 1-50 lakh, and secured loans up to Rs 15-20 crore or even more. The credit period for average unsecured loans is 1-5 years and for secured loans it is 5-20 years.<br /><br />With offices across 12 cities in India, Finance Buddha has originated loans upwards of Rs 1,000 crore in 2015-16. The company closed the year ending March 2016 with revenues in excess of $3 million. The company originates over 5,000 applications a month, and works with over 20 banks and non-bank financial companies (NBFCs) across the country. <br /><br />“We feel that most of our future decision making will be data driven, and the fact that we have a large customer base of over 100,000 serviced customers and have insights using the same, we would be in a better position to create the necessary momentum to grow volumes from here,” he said.<br /><br /> “Our large customer base gives us great understanding of customers profile and would potentially open up opportunities to work with a new set of diverse lenders who are looking at making their marks on this space,” adds Pande.<br /><br /></p>
