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Background more important than vintage in P2P, says RupeeCircle

RupeeCircle, the first online lending player to receive the RBI licence this year.

, ET Online|
Jan 17, 2019, 11.50 AM IST
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RupeeCircle, which recently obtained the NBFC-P2P licence, believes a lot is yet to be done in the peer-to-peer industry and older players do not necessarily hold an advantage over younger ones when it comes to customer acquisition.

“In the long run, it really won't matter who got it (licence) first. Everyone has to be innovative to remain there. The background of founders and the lineage is important. We, for instance, are backed by top 5 NBFC investors,” Ajit Kumar, Founder & CEO, RupeeCircle told in an exclusive interaction.

Kumar believes that customers are the best brand ambassadors and P2P companies have to deliver good numbers to sustain themselves.

“From the data perspective, we have to deliver in the next five years what we have promised now,” adds Kumar.

The company is extremely positive on the prospects of the alternative lending industry and affirms that investor participation is likely to grow with time. “We have 33 percent of women investors on the platform, which also is a positive indicator,” he adds.

The platform offers an average return of 21 percent to investors, says Kumar.

RupeeCircle, the first online lending player to receive the RBI licence this year, has Mahindra Finance as its prime investor, along with Oracle Global Startup Ecosystem and others who invested around Rs 5.5 crore into the company.

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