Total amount raised
$11.6 Millions
Latest funding date
12/1/2021
Location
LenDenClub has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform connects lenders with creditworthy borrowers, offering an innovative approach to peer-to-peer lending.
Keep reading to explore the intricacies of LenDenClub's fundraising journey and the investors backing this dynamic platform.
What Is LenDenClub?
LenDenClub, founded in 2015 by Bhavin Patel and Dipesh Karki, is headquartered in Mumbai, Maharashtra, India. The platform connects investors seeking high returns with creditworthy borrowers in need of loans.
As India's largest Peer-to-Peer lending platform, LenDenClub offers a fully automated, user-friendly experience that ensures efficient loan processing and portfolio diversification for investors. The company employs between 251-500 people, reflecting its significant growth and impact in the fintech sector.
LenDenClub's innovative approach to lending has facilitated over ₹16,000 Crores in loans, serving more than 2 Crore registered users. The platform's commitment to transparency and efficiency has made it a leader in the Indian P2P lending market.
How Much Funding Has LenDenClub Raised?
- Amount Raised: Not publicly disclosed Date: August 1, 2015 Lead Investors: Not publicly disclosed Valuation at Round: Not publicly disclosed Motivation Behind the Round: Initial funding to kickstart operations and develop the platform.
- Amount Raised: Not publicly disclosed Date: April 11, 2016 Lead Investors: Venture Catalysts Valuation at Round: Not publicly disclosed Motivation Behind the Round: To support early-stage growth and platform development.
- Amount Raised: $111.8K Date: December 21, 2016 Lead Investors: Not publicly disclosed Valuation at Round: Not publicly disclosed Motivation Behind the Round: To enhance platform capabilities and expand user base.
- Amount Raised: $500K Date: October 18, 2017 Lead Investors: Not publicly disclosed Valuation at Round: Not publicly disclosed Motivation Behind the Round: To scale operations and increase market reach.
- Amount Raised: ₹71.6M Date: August 29, 2019 Lead Investors: Artha Group Valuation at Round: Not publicly disclosed Motivation Behind the Round: To support growth and enhance technological infrastructure.
- Amount Raised: Not publicly disclosed Date: April 16, 2019 Lead Investors: Venture Catalysts Valuation at Round: Not publicly disclosed Motivation Behind the Round: To further expand the platform and increase user acquisition.
- Amount Raised: Not publicly disclosed Date: December 1, 2020 Lead Investors: Not publicly disclosed Valuation at Round: Not publicly disclosed Motivation Behind the Round: To maintain growth momentum and enhance service offerings.
- Amount Raised: $10M Date: December 7, 2021 Lead Investors: Artha Group, Ohm Stock Broker, Tuscan Ventures Valuation at Round: Over $51 million Motivation Behind the Round: To scale up operations, grow the loan book to $1 billion, and increase the user base to 10 million by FY23.
Total Amount Raised: $10.6M
Current Valuation: Over $51 million
Key Investors
- Artha Group
- Details: Artha Group, through its micro VC fund Artha Venture Fund, has been a significant investor in LenDenClub. They co-led the Series A round and were involved in the pre-Series A round.
- Investment Focus Areas: Technology, Fintech, Consumer Goods
- Notable Investments: LenDenClub, Agnikul Cosmos, Chai Point
- Ohm Stock Broker
- Details: Ohm Stock Broker is a co-lead investor in LenDenClub's Series A funding round. They are known for their involvement in various financial ventures.
- Investment Focus Areas: Financial Services, Stock Brokerage, Fintech
- Notable Investments: LenDenClub
- Tuscan Ventures
- Details: Tuscan Ventures is a co-lead investor in LenDenClub's Series A round. They focus on early-stage investments in high-growth sectors.
- Investment Focus Areas: Logistics, Technology, Fintech
- Notable Investments: LenDenClub, Ecom Express, Rivigo
- Venture Catalysts
- Details: Venture Catalysts is an early-stage investor in LenDenClub, participating in multiple funding rounds. They are a leading incubator and accelerator in India.
- Investment Focus Areas: Fintech, Healthtech, Edtech
- Notable Investments: LenDenClub, Beardo, Fynd
- Kunal Shah
- Details: Kunal Shah, founder of CRED, is an angel investor in LenDenClub's Series A round. He is a prominent figure in the Indian startup ecosystem.
- Investment Focus Areas: Fintech, Consumer Technology, SaaS
- Notable Investments: CRED, Razorpay, Unacademy
What's Next for LenDenClub?
LenDenClub stands at the cusp of significant growth, with plans to expand its loan book to $1 billion and increase its user base to 10 million by FY23. The company aims to achieve a 5X growth in loan disbursals over the next 18 months, leveraging the rising interest in peer-to-peer lending and digital banking solutions.
To support these ambitious goals, LenDenClub may pursue additional funding rounds, attracting strategic investors to fuel its expansion and tech upgrades. However, the company will need to navigate challenges such as maintaining profitability, managing regulatory compliance, and competing with other fintech and traditional financial institutions.
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