AnyTime Loan- Hyderabad Based peer to peer Lending Platform2 years ago Ramya Sayaboni
Are you in an urgent need for money and planning for a small ticket loan?? What if you get a loan in an easy and affordable manner without any paper documents??
There is a Hyderabad based tech startup which has bought a solution of getting a small-ticket loan which is as fast as ordering a pizza or hailing a cab.
AnyTime loan is a platform which provides 24/7 loan to the working individuals, for education, and for Medium scale enterprises. Without any paper documents, guarantor and a collateral, it offers loans through its digital platform and the transaction occurs within 15 minutes of time.
It all started when the founder of the company Keerthi Jain was pursuing engineering at the University of Pune, his father was ill and was bedridden. In this emergency situation, making money was the huge task he faced at that time. Then he decided to solve this situation and thought of bringing an easy availability of money.
Keerthi Kumar Jain an engineering graduate had done his post-graduation at IIM Kozhikode and he is also an alumnus from Indian school of business. From the past 10 years, he was working in the finance industry, he worked for ICICI bank and bought a record of making 501 clients who are Non- ICICI customers to take the Insurance policy and now currently he is the chief executive officer at Anytimeloan.in. Neha Jain, wife of Keerthi Kumar Jain is the co-founder for the company. She is a charted accountant who has an experience in audit and taxation for many years.
This Fintech firm provides offerings of three types of loans for the lenders and borrowers. There are personal loans, education loans for kindergarten to 12th standard and Business loan for small and medium scale enterprises. It offers from 1000 rupees to 60,000 rupees for personal loans with the repayment of the amount within 30 days. It offers an educational loan up to 5 lakhs and for each day with an interest rate of 0.1 %. For Personal loans and business loans, the interest rate is 0.01 and 0.05% respectively.
To borrow and lend money you can register at the online website or download its app in the Google play store and App store at AnyTimeLoan.in. By using a Proprietary algorithm with its machine learning, Artificial intelligence, data science and advanced Robotics technology the chatbot will assess the profile of the client by evaluating through know your customer(KYC) documents which include all the proof documents like PAN card and other documents and will judge the eligible clients to borrow without the CIBIL score.
The firm will help the borrowers to get the loans easily from the listed lenders all over the country. It has partnered with Yes Bank, Yes Fintech, and Global Fintech Association and providing loans to the needy. If you want to lend money then you have to be registered in the website as ATL lender where the lender gets an ROI of 36% PA and with the default rate which is less than 0.7%. Most of the lenders are NBFCs and High net worth Individuals.
It was incubated at T-Hub and Spice digital, a service provider company which is the subsidiary of spice mobile has invested an amount of Rs.25Crore, and recently it has reached the Series round of funding where an amount of 125,000,000 rupees was raised in the year 2017.
With an objective to maximize returns for their lenders and minimize cost for their borrowers and has disbursed 53,000 loans with an amount of 67 lakh rupees within 3 years. Some of its competitors with peer to peer lending platform are Faircent, i-lend, LenDenclub. Nowadays Investors who are working individuals, High net worth individuals are more attracted towards lending in this peer to peer model rather than investing in Real estate and Gold which seems to be the tactic of the fast pacing world.
They are planning to disburse an amount of Rs. 100 crore every month and after reaching that target they are planning to reach the Global markets. If you are interested to know more about this company visit https://www.anytimeloan.in