Enhancing connectivity among lenders, Faircent.com, India’s largest peer to peer lending platform has launched a new mobile application. The company, which caters to retail and business loans, becomes the first and the only Indian peer-to-peer lender to come out with such an application.
The technique which is still at its nascent stage in Indian markets, already flourishes in US, UK and China with over $20 billion in turnover and is expected to soar to $150 billion by 2025 in US only.
The company has already over 5,000 and 20,000 registered users and has disbursed total loans of Rs 2.5 cr. in less than 14 months.
The company has promised app users that, besides quick transaction experiences, they will be provided with tracking options of the subsuming transactor parties.
Commenting on the launch Bejoy Varghese, Chief Technology Officer, Faircent.com said “Faircent has always been the pioneers in using technology and innovation in the most effective manner to enhance productivity. Our mobile application will give customers faster connectivity, better analytics, thereby creating a world-class experience.”
The Faircent app is available for free download on Google Play store and company also plans to launch similar version of the app for iPhone users shortly.