Startup, RupeeLend.com, a digital finance company, has recently registered an impressive revenue of 50 Lakhs after the first year of its working. RupeeLend a start-up that introduced a novel concept of giving away short term credit loans digitally through a hassle free process, has been able to make it big on the revenue charts by recording an fifty lakh first year earnings. Such an earning is a rarity to find in start-ups of this level.
The entire loan process takes only around 10 minutes to get sanctioned thorough a completely online verification and documentation process. The company has been a proud disperser of short term credit loans worth Rupees 3 crore in a short span of one year since August 2015, the time when it was born. The company is currently operating in Delhi-NCR, Bangalore and Mumbai but is planning its expansion into cities like Pune, Hyderabad, Ahmedabad and Kolkata after it secures its next round of funding.
Siddharth Ravindaran, the CEO of RupeeLend stated that, “it was a very novel introduction of short term credit dispersing concept but has seen a ready acceptance by the community which was very heartwarming. He further went on to say that the company aims to double its profits in the next financial year.”