New Delhi, Mar 13 : Mumbai-based P2P(Peer-to-peer) lending startup PaisaDukan has raised the first round of funding from community-based platform Jain International Trade Organisation (JITO) in a bid to further expand its portfolios.
With this funding, the company has been able to raise Rs 3.5 crore in the last three months and Rs 7.5 crore since its inception in Nov 2017. Talking to media, PaisaDukan Founder and CMD Rajiv M Ranjan said, “By JITO Angel Network making strategic investment in our company, it showcases the strength of the business model of Paisadukan and also the potential of Peer to Peer Industry in India.”
He also said that the company will again receive the next round of investment in next 3-6 months.
“This is the first round of fund infusion and we are planning to raise another round with JITO Angel Network in next 3-6 months. We are quite positive on our business operations,” Mr Ranjan added.
Expressing confidence in the business model of PaisaDukan, Lead investor from JITO Angel Network Tharun Dhariwal said, “We are at JITO Angel Network are extremely optimistic on the business model of Peer to Peer lending in the country. Additionally, we see a huge potential in the recent innovative initiatives taken by Paisadukan.”
Two days back, the company has opened its first rural branch in Madhubani district of Bihar in an effort to tap the emerging rural lending market.UNI