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19°10′27.5797″N 72°50′39.9833″E / 19.174327694°N 72.844439806°E / 19.174327694; 72.844439806

LenDenClub

Company type	Private
Industry	Financial
Founded	2015
Headquarters	Unit No. 1006, 10th Floor, DLH Park, Swami Vivekananda Road, Malad, Sunder Nagar, Goregaon West, Mumbai, Maharashtra - 400062, India
Area served	India
Key people	Bhavin Patel (Co-Founder & CEO) Dipesh Karki (Co-founder & CTO)
Parent	Innofin Solutions
Website	lendenclub.com

LenDenClub is an Indian P2P lending platform owned and operated by Innofin Solutions. Founded in 2015, the company's headquarters are situated in Mumbai, India.

History

LenDenClub was founded by Bhavin Patel and Dipesh Karki in 2015 as a web-based platform. In 2016, the company received funding in a seed round led by Venture Catalysts and launched an Android-based application to connect borrowers with individual lenders. As of 2016, LenDenClub had 700 lenders and 1,120 borrowers. In 2018, LenDenClub raised another $1.5 million in its Pre-series A round, and its parent company Innofin received a license from Reserve Bank of India to operate as an NBFC-P2P company. By 2019, the company expanded its operations to six states. In December 2019, the RBI increased the lending limit on P2P platforms to Rs 50 lakh, up from the previous limit of Rs 10 lakh.

In 2021, LenDenClub was chosen to participate in the Microsoft for Startups program and its co-founders Bhavin Patel and Dipesh Karki were featured in the Businessworld's BW Disrupt 40 Under 40 list. LenDenClub works with fintech companies such as BharatPe, PhonePe, Google Pay, and announced its collaboration with Samir Kochhar, to launch its first brand campaign.

In December 2021, LenDenClub received $10 million in series A round funding, with participation from various investors at a valuation of $51 million. In 2022, the company launched a Fixed-Maturity P2P Plan (FMPP), which enables its members to lend money for a fixed tenure. In April 2022, 'LenDenClub Alpha,' a corporate venture, was launched to provide mentorship and support to early-stage startups during their seed and pre-Series stages. Also, in october, LenDenClub started The Bharat Fintech Program’ in association with Reseau and announced a ₹2 crores investment in rural fintech startups. The company participated in a fundraise round for Hubbler, a no-code platform. LenDenClub is the first P2P lending company to enable ESOP (Employee Stock Ownership Plan) liquidation for its employees. In 2023, LenDenClub appointed Indian cricketer Hardik Pandya as its brand ambassador.

Awards

• Deloitte Tech Fast 50

References

1. "Forbes India Innovation Dialogues: Making Cloud Work For You". Forbes India.
2. Sharma, Aprajita (28 April 2021). "14% return in a year: P2P lending catches investors' eyes". Business Today. Retrieved 11 February 2024.
3. Pillai, Kavya (1 May 2023). "LenDenClub: India's Largest Peer-to-Peer Lending Platform". Entrepreneur.
4. Pillai, Shalini (12 April 2016). "Venture Catalysts funds LenDen Club". The Times of India. ISSN 0971-8257. Retrieved 11 February 2024.
5. Mishra, Aparna (12 April 2016). "Peer-To-Peer Lending Platform LenDenClub Gets Seed Funding". Inc42 Media. Retrieved 11 February 2024.
6. ^ Khatri, Bhumika (29 August 2019). "LenDenClub Raises $1 Mn Pre-Series A Funding Led By Artha Venture Fund". Inc42 Media. Retrieved 11 February 2024.
7. Kaushal, Teena Jain (12 July 2023). "Rise of P2P lending platforms: Why users need to exercise caution before diving into it". Business Today. Retrieved 11 February 2024.
8. ^ Thanawala, Hiral (30 August 2022). "Can LenDenClub deliver on its intent of 12% return on P2P product? A Moneycontrol review". Moneycontrol. Retrieved 11 February 2024.
9. "BharatPe Redefined India's Payment Ecosystem. The Unicorn Now Wants To Challenge India's Banks". Forbes India. Retrieved 11 February 2024.
10. Bhakta, Pratik (29 November 2023). "P2P companies log revenue jump, thanks to business partnerships". The Economic Times. ISSN 0013-0389. Retrieved 11 February 2024.
11. "LenDenClub's campaign raises awareness on P2P lending through Samir Kochhar". The Economic Times.
12. Bhakta, Pratik (6 June 2023). "After online payments, digital loans, now P2P lending under RBI lens". The Economic Times. ISSN 0013-0389. Retrieved 11 February 2024.
13. ^ Mahtta, Priyal. "LenDenClub to invest in six fintech startups under incubator program". VCCircle. Retrieved 11 February 2024.
14. Kumar, Naveen (29 July 2022). "Earn 10-12% return on this P2P debt product by LenDenClub: Should you invest?". The Economic Times. ISSN 0013-0389.
15. Livemint (12 April 2022). "LenDenClub launches fintech venture fund to support start-ups". mint.
16. "Bits and Bytes: Know about startup, business news in Pune". Hindustan Times. 29 October 2022. Retrieved 11 February 2024.
17. "Lending Platform Enable ESOP Liquidity". BW Disrupt.
18. "Hardik Pandya chooses to invest 'hatke' in new LenDenClub's ad - ET BrandEquity". ETBrandEquity.com.
19. "Technology Fast 50 | 2023 winners report". Deloitte India.

• Companies based in Mumbai
• Indian companies established in 2015
• Financial services companies established in 2015