Startup: Dreamplug Technologies Pvt. Ltd., Who Manages The Fintech Unicorn Cred, Said On Friday It Is Looking To Purchase A Minority Position Through Its Maharashtra Lending Partner Liquiloans Worth Up Rs. 80 Crore. According To The Firm, The Funding From Cred May Increase "Liquiloans" Worth Near To ₹15,937,940,000.00.
Cred Partnered With Liquiloans, Which Is Managed Through Trillionloans Fintech Pvt. Ltd. Last Year To Launch Cred Mint, Online Platform That Enables Cred Users To Lend To One Another At A Yearly Interest Rate Of 9%.
According To The Announcement, The Fund Would Strengthen Cred's Relationship With Liquiloans.
It Also Strengthen Liquiloans' Technical Expertise.Cred, Founded In 2018 By Marketing Guru Kunal Shah, Started As Just An App That Enables Users To Pay Credit Card Balances And Rewards Them With "Cred" Coins That May Be Spent Across Various Partner Companies.
P2P Lending Cred Mint
Cred Has Also Been On The Lookout For New Opportunities. Mint Announced In October 2021 That It Has Bought The Booze Delivery Company Hipbar Pvt Ltd In Order To Join The Wallet Payments Sector.
Cred's Overall User Base Is Expected To Reach 7.5 Million By 2021, According To The Business, Which Also Handles More Than 25% All Credit Card Payments. Based On An Official Paper Provided By The Cred In March, The Firm Recorded A 45% Rise In Its Net Deficit For Fy21 As Marketing Spending Skyrocketed Over The Year. Cred's Loss Increased To 524 Crore In Fy21, Up From 360 Crore The Prior Year.
"With A Solid Management Team, Liquiloans Has Pioneered In Establishing Trust-centered Financing Solutions And Is A Champion In Peer-to-peer Lending."
These Efforts Have Aided In Increasing Access To Credit, As They Look Further Into Collaborating With Company In Their Next Stage Of Development And Creativity," Shah Added.
Founder Of Liquiloans
Gautam Adukia Launched Liquiloans With The Goal Of Providing Individual Retail Investors With Direct Access To Millions Of Retail Consumers Via A Digital Platform,
Hence Building A Viable Consumer Lending Ecosystem."Our Goal Has Been To Create A Reliable And Trustworthy Peer-to-Peer Lending Platform." To that end, we are and will continue the strategically partner with companies that share our values.
"Its long-term partnership alongside Cred, in addition to this investment," Mittal added, "will help us achieve our goal of achieving efficiencies for easy investment and lending.
0 Comments