RULoans launches on-boarding mobile app for easy loans

Mumbai, 05th December, 2022: RULoans Distribution Services Pvt. Ltd., one of India’s leading corporate DSA businesses, has officially launched its end-to-end digital platform for faster and seamless partner on-boarding as well as paperless and fully compliant loan file processing at an event in Jaipur. The digital platform will power the company’s plans to take the loan disbursement to more than Rs.100,000 crore and channel partner network strength beyond 75,000 by 2025.

The digital platform is accessible through RULoans mobile app which will be downloadable from Google Play Store and Apple App Store.

Using this new-age omni-channel platform, entrepreneurs and loan agents across India can empanel themselves as RULoans partners and also upload loan cases real-time into the system. The company has ensured that the entire loan journey is compliant from a financier perspective. The digital platform runs a proprietary algorithm in the back-end to match cases to suitable financiers and processes the loan files for disbursement both digitally and physically.

The RULoans Group was set up in2000in Mumbai by first generation entrepreneur Kaushik Mehta and has a portfolio of more than 200 partner banks and NBFCs and has presence in more than 2,000 cities across India with over 340 offices at key locations. It distributes over Rs. 2,300 crore of retail loans a month. It operates a channel partner network of over 20,000 small to mid self-employed connectors and partners. The company has so far facilitated loan disbursals worth more than Rs. 50,000 crore and the issuance of more than 150,000 credit cards since inception. For FY 2023, the company is on course to cross more than Rs. 25,000 crore of disbursement and issuance of over 100,000 credit cards.

Commenting on the launch, Kaushik Mehta, Chairman, RULoans said, “The launch of RULoans channel partner on-boarding mobile app is in line with our vision to be one of the largest BFSI product aggregators by 2025 with disbursement exceeding Rs.100,000 crore and channel partner network strength surpassing 75,000. The lending eco-system in India is at an inflection point thanks to a strong market demand and growing adoption of digital channels for customer on-boarding and loan application processing. The RULoans mobile app will add new age tech-enabled agility to our distribution scale-up strategy and service delivery efficiency. Banking on the robust digital backbone, we’ll continue to deepen our market outreach  and expand our presence in new and underleveraged markets.”

Karan Desai, Director, RULoans said, “The digital channel partner on-boarding platform will open up new growth avenues on the back of the two decades of successful track record of financial product distribution. We are working towards crossing a top line of Rs. 500 crore in FY23 and our aim is to touch the Rs.2,000 crore-mark by 2025. The business has always demonstrated strong profitability and growth. With the support of a strong tech backbone, we are set to transform our business efficiency and further strengthen the channel partner and customer connect with our brand. We look forward to partnering with more and more financial services entrepreneurs to help them build growth-focused Loan referral franchises.”

Products distributed by RULoans include personal loan, business loan, home loan, gold loan, working capital finance, loan against property, life and general insurance, loan against security, education loan, real estate, auto loans and credit cards.

Most Popular

More from Author

Caspian Equity Brings Fresh Perspective to Investment with Launch of LEAF Fund for Food and Agriculture Startups

Get in on the ground floor of the next big thing in agriculture. Invest with Caspian Equity's LEAF Fund in innovative Food & Agribusiness startups.

Hyderabad E-Mobility Week Hosts Grand Finale of CASE Mobility’s Start-up Challenge

Discover the groundbreaking innovations in Connected, Autonomous, Shared, and Electric (C.A.S.E.) mobility presented by young entrepreneurs at the finale of CASE Mobility Grand Start-up Challenge.

Read Now

Caspian Equity Brings Fresh Perspective to Investment with Launch of LEAF Fund for Food and Agriculture Startups

Get in on the ground floor of the next big thing in agriculture. Invest with Caspian Equity's LEAF Fund in innovative Food & Agribusiness startups.

Bringing Back Ancient Indian Purity: The Story of Seven Spring Tea

Rediscovering India's Natural Goodness with Seven Spring Tea.

Hyderabad E-Mobility Week Hosts Grand Finale of CASE Mobility’s Start-up Challenge

Discover the groundbreaking innovations in Connected, Autonomous, Shared, and Electric (C.A.S.E.) mobility presented by young entrepreneurs at the finale of CASE Mobility Grand Start-up Challenge.

Mercom Elevates Cleantech Startups with Launch of Pitch Competition at India Renewables Summit 2023

India Renewables Summit 2023 Gets a Boost from Mercom's Cleantech Startup Pitch Competition.

SDG Impact Finance Recognizes Varthana and Consortium with USD 200,000 Grant Award

SDG Impact Finance awards USD 200,000 (approx. 1.63 Cr.) grant to Varthana and its Consortium.

Thane-based Startup Avni Transforms Menstrual Healthcare in India: 55,000+ Women’s Lives Improved

With plans to serve 1,50,000+ clients in fiscal 2023-24, Avni is expanding its presence across e-commerce platforms and retail outlets.

Delhi-based Drone Tech Startup TSAW to Take Part in Prestigious Aero India 2023 Exhibition

Innovative drone solutions await at Aero India 2023. TSAW, with its R&D department located on the IIT Delhi campus, is set to showcase their state-of-the-art technology.

LoanTap Group Secures INR 24 Cr in Venture Debt Funding Led by Lighthouse Canton

Lighthouse Canton leads the way in providing debt capital to technology-enabled startups in India, including LoanTap's financial technologies.

Early Stage Investment Platform Inflection Point Ventures Unveils its First Advertising Campaign with Sony’s Shark Tank India

Inflection Point Ventures Launches Debut Marketing Campaign on India's Leading Investment Show.