The experience of facing a short-term cash crunch has been faced by almost all of us at one point of time or the other. And for some, it leaves such a deep impact that they begin to search ways in order to solve the problem which eventually sow seeds for a new venture that could help people navigate such situations. This exactly replicates the story of Rupeelend, a Gurgaon based fintech start-up that evoked from a realtime experience and the desire to help the needy during emergencies through lending short terms loans. As a secure and trustworthy platform, RupeeLend caters to people with credit score even below 650 which makes it the only player in the industry to offer instant short-term loans. The loan amount ranges from INR 10,000–INR 1,000,00. The types of loan products include Payday Loans, Same Day Loans, Quick Loans, Advance Salary Loans and others.
It was in 2013 when Siddharth Ravindran and his family met some medical emergencies. Had it not been his savings and insurance claims, it would have been a lot more difficult to tackle the
"Led by a team of 70+ people across PAN India, the company has clocked revenue of 1.8cr in the last fiscal year"
Prior to founding Rupeelend, Siddharth has worked with leading financial institutions such as Indiabulls, HSBC, PaisaBazaar and others. His robust experience and rich knowledge in Loans, Credit Cards and Real Estate has helped Rupeelend achieve greater heights.
Smart & Secure Lending Mechanism
Any customer who needs a loan for meeting up short-term needs can avail the same by applying through Rupeelend’s website or app. The company has leveraged
Keen to disrupt the credit market by minimising human involvement and time, Rupeelend uses Artificial Intelligence and Machine Learning to ensure decision makings with enabling faster results. The company deploys its proprietary algorithms to assess an applicant’s credit-worthiness by tracking their mobile data usage and social metrics. In other words, the use of AI aids Rupeelend to reclassify borrowers and unlock their value, based on a ‘truer’ assessment of borrowers.
The Growth Story
What started off primarily from three cities Delhi-NCR, Mumbai and Bangalore, Rupeelend, today has its presence in Pune, Hyderabad and Chennai. Soon the company plans to expand across prominent cities. Led by a team of 70+ people across PAN India, the company has clocked revenue of 1.8cr in the last fiscal year. A self-funded venture, Rupeelend is looking for external investors and acts to remain as a one-stop shop for fastest and easiest way of borrowing funds along with encouraging the credit upliftment in the financial ecosystem of the country.