Hyderabad, 15thOctober, 2018: T-Hub, a leading global startup catalyst for entrepreneurship, scale, and deal-flow, today announced that its Hyderabad-based startup, AnyTimeLoan.in, has secured Non-Banking Financial Company (NBFC) Peer-to-Peer (P2P) license from Reserve Bank of India.
AnyTimeLoan.in is India’s leading P2P lending platform. It facilitates instant unsecured loans (personal, education and business loans) to eligible borrowers by connecting them with investors or lenders across India through a 100 percent digital ecosystem. AnyTimeLoan.in has a minimum net owned fund of Rs 20 million and over the past four years, it has disbursed over 57,000 loans, aggregating to over Rs 62 crore. It has set its eyes on hitting a monthly loan disbursal rate of Rs.100 crore in the next 18 months.
Srinivas Kollipara, CEO of T-Hub, has lauded this accomplishment saying, “This is a brilliant example of what a business leader can achieve when entrepreneurial aspiration is combined with a vibrant startup ecosystem. T-Hub is proud to have enabled AnyTimeLoan.in in scaling up their business to make inroads into India’s non-banking financial market.”
AnyTimeLoan.in is all set to transform the way Indians borrow and lend money, through its P2P lending platform. What makes it an attractive proposition is that investors and borrowers are not charged any registration fee, and the company earns its revenue only when investors get their money back along with returns.
Commenting on the achievement, Keerthi Kumar Jain, Founder, and CEO of AnyTimeLoan.in said, “Our primary goal of enabling millions of Indians to experience financial independence by facilitating instant loans for them is enroute to becoming a reality. This is a very significant milestone for our company as it further strengthens the trust our investors and borrowers have on us. We are privileged to be a part of T-Hub, who has been an important catalyst in our entrepreneurial journey, helping us scale and achieve such high-end goals.”
With this certification, AnyTimeLoan.in joins a select group of fintech startups who hold the NBFC-P2P accreditation. RBI follows a very stringent due diligence process while granting this license, which involves eligibility criteria like financial stability, business continuity plan, and how the business will aid in RBI’s larger vision of financial inclusion. This recognition from RBI is a strong validation of the startup’s sharp business model, processes and compliance with the RBI guidelines.
About AnyTimeLoan.in:
AnyTimeLoan.in is a Hyderabad-based startup which provides a 24×7 loan to working individuals, for the purpose of education, personal and business loans for medium-scale enterprises. Without any paper documents, guarantor and a collateral, it offers loans through its digital platform and the entire transaction takes all of 15 minutes. The company uses advanced tools and technologies revolving around data science, artificial intelligence, machine learning, and predictive science to ensure real-time decisions on borrowings and lendings.
About T-Hub:
T-Hub is a leading global startup catalyst that powers entrepreneurship, scale, and deal flow. Incorporated in Hyderabad, India, in 2015, it has provided over 350 national and international startups with access to mentors, customers, corporates, investors and government agencies. T-Hub is on a mission to scale startups globally, offering entrepreneurs a world-class platform to help them generate revenue and get access to new customers, capital and markets. T-Hub supercharges corporate innovation by enabling an out-of-the-box approach, works with investors to enhance deal flow, and helps governments to implement and improve their startup initiatives.