PaisaDukanAnnounces Seed Funding from AngelInvestors – Indian FinTech startup raises USD 650K through Angel Funding route
PaisaDukanAnnounces Seed Funding from AngelInvestors
– Indian FinTech startup raises USD 650K through Angel Funding route
Mumbai, 17thApril 2018:PaisaDukan.com a P2P Lending marketplace solely owned by Mumbai based FinTech start-up BigWin Infotech,today announced asecuredseed funding of USD 650K through Angel funding rout. The fund will be used for marketplace platform and mobile app development.
BigWin Infotech is a government of India recognized ISO 9001:2015 &ISO 27001:2013 FinTech startup.PaisaDukan isa Techno Grad – CA Association and is a brainchild of two industry expertsMr. Rajiv M Ranjan, a leading FinTech professional and Mr. Ambar Kasliwal, a practicing CA.
Commenting on the development, Mr. Rajiv M Ranjan, Founder & CMD PaisaDukan said “The deal signifies our robust QMS and is our first milestone. Our mission is to provide a world-class platform for borrowers & lenders that will empower and set new standards bringing a comprehensive portfolio carrying unparalleled products to fasten our services.We are coming up with own proprietary credit risk management tool to cater all sections of society.”
“We have applied for NBFC P2P license in Dec’ 2017 and areawaiting an approval from RBI. Our platform will go liveas soon as we receive the Certificate of Registration from RBI”added Mr. Ranjan.
P2P lending is one of themost innovative products of recent time; India has a huge potential and is poised to flourish in 2018. According to various market reports,India is poised to be a USD 4-trillion economy by 2022, of which USD 1-trillion would be digital economy. On a similar note, the Govt. of India emphasized on digital economy and announced various budget allocations to boost digital Indian economy in the union budget 2018.
“We are deeply inspired by ‘Digital India’.Our vision is very clear, we aim to serve India’s traditionally underserved populace,and our target audience consists of consumers who find it difficult to secure a timely loan from banks or any other financial institutions. Also, we are not limited to basic lending operations; we’re expanding our services into certain areas where financing institutions don’t foray into, we will be catering to tier 2, tier 3 and rural locations to bring investors and borrowers together”said Mr. Ambar Kasliwal, co-founder & director, PaisaDukan.com.
The NBFC sector in India has grown significantly during the last few years and has become an important segment in the financial sector contributing to almost 10 per cent of the total assets of the financial sector.
RBI issued a guideline to companies operating in peer to peer lending platforms and classified them as NBFC-P2P. This is the twelfth category of NBFC introduced by RBI with the last one being for microfinanced companies (i.e. NBFC-MFI)
About BigWin Infotech:
BigWin Infotech is an ISO 9001:2015 &27001:2013 certified startup, duly recognized by the Department of Industrial Policy & Promotion (DIPP). The Company operates in P2P lending business through its solely owned marketplace PaisaDukan.com. BigWin is a new kind of technology-driven finance company taking a radical approach to lending and wealth management which brings to the plate a comprehensive portfolio carrying unprecedented products and tools to faster service and open conversations. It provides a robust and scalable marketplace wherein borrowers and lenders can interact directly.
For more info: www.bigwininfotech.com
Rajiv Ranjan, Founder & CMD BigWin Infotech:
Rajiv is a top-notch technology professional with a demonstrated history of more than 18 years of leveraging technology based solutions to drive business values. He’s served some of the blue chip MNCs and executed multi-million dollar projects for companies like Bank of America N.A., Infosys, Blue Star Group, Welspun Group, etc.
Rajiv was involved in some of the major path breaking projects as Cheque Truncation System (CTS), Real Time Gross Settlement System (RTGS), National Electronic Fund Transfer (NEFT) and Negotiated Dealing System (NDS). He has been an active participant in major initiative of institute of Development and Research in Banking Technology (IDRBT). Rajiv holds a degree in Computer Science Engineering and is an alumnus of IIMC.
Ambar Kasliwal, Co-Founder & Director, BigWin Infotech:
Ambar Kasliwal, FCA, is a practicing CA, having industry experience of more than 15 years. He is senior partner of Jain Kasliwal & Associates LLP. He’s advised over 60 top companies in the field of media & advertising, Export house, Logistic, Textime and heavy industrial companies as clients including industry leaders.
Ambar has also worked closely with Govt. organizations in Mumbai and cultivated strong working partnership with local and international PE houses. He’s also advised his clients on setting up various off shore companies in Mauritius, Middle East and BVI.