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<ul><li>This feature will allow users of the <keyword id="11901149" type="UNKNOWN" weightage="20" keywordseo="cred-app" source="Orion">CRED app</keyword> to lend money to each other at an interest rate of up to 9% annually.</li><li>CEO Kunal Shah believes that this will be a low-risk investment, as it only allows select users with good <keyword id="11897635" type="UNKNOWN" weightage="20" keywordseo="cred" source="Orion">cred</keyword>it scores on CRED.</li><li>CRED had also launched its loan offering last year and has a loan book of ₹2,000 crore to date. </li></ul>Kunal Shah-led credit card payments app CRED will now enable a peer-to-peer (P2P) lending feature called <keyword id="11897640" type="UNKNOWN" weightage="20" keywordseo="cred-mint" source="Orion">CRED Mint</keyword> for its 7.5 million members. This will allow users of the CRED app to lend money to each other at an interest rate of up to 9% annually. The feature has been launched in partnership with P2P non-bank <keyword id="11897633" type="UNKNOWN" weightage="20" keywordseo="liquiloans" source="Orion">LiquiLoans</keyword> and will allow users to “invest” anywhere between ₹1 lakh to ₹10 lakh of their savings in a capital pool. This pool will then be used to lend to other CRED users, who are seeking a personal loan. These loans will be disbursed at a 12-13% interest rate annually. Of which upto 9% interest rate will be rewarded to those investing in the product. Shah, in an <a href="https://economictimes.indiatimes.com/tech/startups/cred-to-enter-peer-to-peer-lending-with-user-funds/articleshow/85463936.cms">interview</a> with The Economic Times, said that they realised that many of their users have lakhs in savings lying in their bank accounts and accruing interest rates, which don’t even beat inflation. The P2P lending model is not a new one in India. Other non-banks like LiquiLoans, LenDenClub and Rupee Circle are also operating in this category. However, one needs to realise that the returns on these investments are dependent solely on the repayments of the loans. The non-banks usually take the risk on their books and pay the lenders out of their own pockets in case of defaulters. Given that CRED only allows select users on this platform, Shah emphasised that a P2P sort of lending can offer a low-risk investment opportunity for its users. Notably, CRED only allows users with a credit score of 750 or higher on its platform. Founded in 2018, CRED started off as a credit card bill payments app. Over the years, it has entered e-commerce, lending, payments and now investment segments. Shah claims that about 25-30% of all credit card bill payments in India happen through its platform. Meanwhile, CRED launched its lending business in 2020 and its loan book is now at over ₹2,000 crore with non-performing assets at under 1%. CRED entered a unicorn club in April 2021, after raising <a href="https://www.businessinsider.in/business/startups/news/kunal-shah-cred-raises-215-million-to-be-indias-latest-unicorn-with-a-valuation-of-2-2-billion/articleshow/81933639.cms">$215 million</a> in a round led by Falcon Edge Capital and existing investor Coatue Management. The company is now valued at $2.2 billion. A unicorn is a private firm valued at or more than $1 billion. Overall, the company has raised about $471 million to date from marquee investors like Dragoneer Investment Group, <keyword id="11901144" type="UNKNOWN" weightage="20" keywordseo="tiger-global-management" source="Orion">Tiger Global Management</keyword>, Sofina, DST Global and more. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/oyo-is-looking-to-hire-over-300-engineers-in-the-next-6-months-to-clear-path-to-profitability/articleshow/85456655.cms" data-type="tilCustomLink">OYO is looking to hire over 300 engineers in the next 6 months to clear ‘path to profitability’</a> <a href="https://www.businessinsider.in/business/startups/bharatpe-raises-200-million-in-debt-funding/articleshow/85454232.cms">BharatPe raises $200 million in debt to build a loan book of $1 billion by March 2020</a> <a href="https://www.businessinsider.in/business/startups/news/student-loan-provider-eduvanz-raises-100-crore-from-juvoventures-sequoia-and-others/articleshow/85453333.cms">Student loan provider Eduvanz raises ₹100 crore from JuvoVentures, Sequoia and others</a>

Credit card payments company CRED launches peer-to-peer lending option for its 7.5 million users

<ul><li><keyword id="1763236" type="General" weightage="100" keywordseo="cred" source="Orion">CRED</keyword> said that it will acquire SaaS startup <keyword id="1561651" type="General" weightage="80" keywordseo="creditvidya" source="Orion">CreditVidya</keyword> in a stock-and-cash deal. </li><li>The two organisations will work independently, but CRED will offer benefits, including stock options, to CreditVidya’s team members. </li><li>Earlier in 2021, CRED also acquired liquor delivery app HipBar and expense management platform Happay. </li></ul>Bengaluru-based fintech <keyword id="152045" type="General" weightage="20" keywordseo="unicorn" source="Orion">unicorn</keyword> CRED said on Tuesday that it will acquire CreditVidya, a Hyderabad based SaaS company, in a cash and stock deal. The companies have not disclosed the value of the transaction. “We’ve invested in building category-defining products that bring financial services to credit under-served Indians through our partners, transforming how risk is assessed and trust measured to drive financial inclusion,” said Abhishek Agarwal, co-founder &amp; CEO, CreditVidya. The closure of the <keyword id="30334" type="General" weightage="20" keywordseo="acquisition" source="Orion">acquisition</keyword> is subject to requisite approvals. CreditVidya offers a lending-as-a-service platform, and is valued at <a href="https://techcrunch.com/2022/11/29/cred-acquires-creditvidya/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAIEqG4ol0n6HJIq1C2xkwEeKGCvQPWkytEMXW9DgRmzH7XMV8L4luW_sL41qqIwizKXU4d6_-KdAE8eidDEcpsbiYfF2-lA-sOf2Vn9WxamhRmqzBYtTFCmuk9VpBpwD6El0gD06mreob9RAnrSAMk78jehxg2haAivSmwTUD7Dj">about $30 million post-money</a>. It enables lenders to assess a loan applicants’ creditworthiness. Many of the applicants it processes are first-time borrowers. Founded in 2018, CRED, which went viral for its out-of-the-box advertisements, stated that the two organisations will continue to work independently. It will also offer its ESOP programme and other benefits to CreditVidya’s 200-plus team members. “Expanding access to credit is a key driver for financial progress. CreditVidya's patented tech stack uncovers signals of trust among under-served cohorts. We look forward to supporting them in powering an inclusive credit ecosystem,” said Kunal Shah, founder, CRED. Backed by Tiger Global and Sequoia India, among others, CRED has been on an acquisition spree since October 2021, when it <a href="https://timesofindia.indiatimes.com/business/india-business/cred-acquires-liquor-delivery-app-hipbar/articleshow/87193580.cms">acquired </a>liquor delivery app HipBar, followed by expense management platform Happay in December. It also invested in lending partner LiquiLoans earlier this year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/jio-haptik-and-cashe-partner-to-deliver-instant-credit-lines-on-whatsapp/articleshow/95859261.cms">Jio Haptik and CASHe partner to deliver instant credit lines on Whatsapp</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/recent-ipo-successes-could-lead-to-recovery-in-the-primary-market-ey/articleshow/95858664.cms">Recent IPO successes could lead to recovery in the primary market: E&amp;Y</a>

Fintech unicorn CRED to acquire SaaS startup CreditVidya

With an aim to leave behind the <keyword id="2988161" type="General" weightage="20" keywordseo="ashneer-grover" source="Orion">Ashneer Grover</keyword> controversy and bring business on track, fintech platform <keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword> on Thursday launched an investment platform for its merchant partners. In the first phase, the company is going live with peer-to-peer (P2P) investments and bank-deposit products with its partners on the platform. The P2P investment product is being powered through RBI regulated non-banking financial companies (NBFCs) LenDenClub and Liquiloans. BharatPe said in a statement that it is also working on providing its merchants an option to invest in fixed deposits by Unity Small Finance Bank. "We believe that it should be the merchant who should have the power to decide which investment product and which partner he/she would like to invest with," said Suhail Sameer, CEO, BharatPe. With the P2P lending product, merchants will have an option to earn interest of up to 12 per cent per annum in the first phase, and around 8 per cent on the fixed deposit product. BharatPe intends to offer a range of investment products under a single window, including mutual funds and ETFs, etc., in the coming months. "The aim is to make BharatPe's Investment Platform the most sought after investment vehicle for millions of offline retailers in the country," said Sameer. Based on the success of the pilot, the company aims to facilitate investments for more than 20 lakh merchant partners over the next 12 months via this platform. The platform will enable RBI regulated entities to market their investment products to more than eight million BharatPe merchants across the country. Last week, the fintech platform said it has initiated necessary action against the company's former founder Ashneer to "claw back his restricted shares as per the shareholders' agreement" and will take all steps to enforce its right under the law. As part of its corporate governance review of the company after the financial irregularities were unearthed during Ashneer and his wife Madhuri Jain Grover's time, the company found many vendors were involved in malpractices, such as incorrect or inflated invoices, who have been blocked for further business with the company. The company terminated the services of several employees in departments who were directly involved with these blocked vendors. Grover, along with his wife Madhuri Jain Grover, has been stripped of all company titles over alleged "extensive misappropriation of company funds" and using "company expense accounts" to "enrich themselves and fund their lavish lifestyles". SEE ALSO <a href="https://www.businessinsider.in/business/news/heatwave-has-turned-acs-from-a-luxury-to-a-necessity-but-margins-remain-muted-for-the-players/articleshow/91655568.cms" data-type="tilCustomLink">Heatwave has turned ACs from a luxury to a necessity — but margins remain muted for the players</a> <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-heres-how-you-can-check-the-allotment-status/articleshow/91650014.cms">Delhivery IPO: Here’s how you can check the allotment status</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-vs-bharti-airtel-four-charts-to-showcase-how-indian-telecom-giants-faired-in-2022/slidelist/91640306.cms" data-type="tilCustomLink">Reliance Jio Vs Bharti Airtel — Four Charts That Showcase How The Indian Telecom Giants Faired In 2022</a>

BharatPe launches investment platform for merchants after Ashneer Grover saga

<ul><li><keyword id="3189966" type="PERSON" weightage="20" keywordseo="Venture-Catalysts">Venture Catalysts</keyword>, an integrated incubator based out of Mumbai, claims that it has invested ₹500 crore in the Indian startup ecosystem in <keyword id="2604636" type="PERSON" weightage="20" keywordseo="2019">2019</keyword>.</li><li>It has invested the amount through 63 deals and has also exited from 30 <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> in the past four years. </li><li>The incubator provides investment of $500,000 to $1 million per startup with incubation support for one year. </li></ul>Venture Catalysts, an integrated incubator based out of Mumbai has invested ₹500 crore in the Indian startups in 2019. It invested in 63 deals and exited from 30 startups in the last four years. Thanks to the explosive growth opportunities it presents, there has been a new class of investors who are keen on being a part of it, from Tier 2 and 3 cities. “Venture Catalysts identified the investment potential among High Net Worth Individuals (HNIs) from small towns who, till a few years ago, invested only in stock markets and real estate. But, since the sub-prime crisis of 2008, this category of investors was looking for a new class of assets that could give them better returns,” said Dr Apoorva Ranjan Sharma, president and co-founder of Venture Catalysts. The incubator provides investment of $500,000 to $1 million per startup with incubation support for a year. In August this year, it announced a new fund called 9Unicorns with an outlay of ₹300 crore. The fund claims to be the first ‘accelerator VC’ in India, and aims to invest in 100 startups every year. The fund hopes to identify the next set of unicorns, and help them grow. Through an investor network of over 5000 angels, Venture Catalysts is sector agnostic -- investing across sectors. It invested in startups like BharatPe, Beardo, Easyrewardz (which was recently acquired by Flipkart), Reliance-backed Fynd, Oyo-acquired Innov8 etc. Betting on early stage startups too, Venture Catalysts has invested in LenDenClub, Home Capital, Ideal Insurance, LiquiLoans and OTO Capital. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/retail-to-fintech-these-are-the-hottest-startup-sectors-of-the-decade/articleshow/73024490.cms?src=hp_latest">These are the hottest startup sectors of the decade </a>

You Searched For "liquiloans" and got 4 results

Credit card payments company CRED launches peer-to-peer lending option for its 7.5 million users

Kritti Bhalla

Fintech unicorn CRED to acquire SaaS startup CreditVidya

Srishti Magan

BharatPe launches investment platform for merchants after Ashneer Grover saga

IANS

This Indian startup incubator has invested ₹500 crore across 63 deals in 2019

Sanchita Dash

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