Mumbai: Noida-based RNVP Technology Pvt. Ltd, which operates the online peer-to-peer (P2P) lending portal i2ifunding, has raised an undisclosed amount in funding from a group of angel investors.
“Our mission is to help the borrowers access the loans for various needs at lower than market rates and at the same time provide an alternative high return investment option to retail investors,” said Vaibhav Pandey, chief executive of the company.
“This investment could not have come at a better time as RBI (Reserve Bank of India) has talked about Rs.2 crore capital requirement for P2P players in the concept paper recently released for regulating P2P lending platforms in India, and this funding would mean that we would be able to clear this requirement easily,” said Pandey.
The company, founded in 2015 by Pandey and Manish Bansal, plans to utilize the funds towards technology expansion and also towards increasing its presence geographically.
It plans to offer its services in at least 20 cities in the next one year.