P2P Lending Platform, Faircent Secures Funding From Fusion Microfinance Founders

Gurgaon based Peer to Peer lending pioneer Faircent.com raised capital at an enterprise valuation of $4 Million. The round was led by couple of investors from the micro finance industry – Devesh Sachdev and Ashish Tiwari, promoters of Fusion Microfinance Pvt Ltd, a company having Gross Loan Portfolio of 250 Cr as on December 2014, invested in the venture in their individual capacity.faircent
Started in 2013, Faircent helps in eliminating the high margins which intermediaries like banks and financial institutions make on our transactions. Banks have massive overheads, with thousands of employees to pay and hundreds of branches to maintain. Banks must take large margins on the money that passes through them. Whereas at Faircent.com people who have spare money lend it directly to  people who want to borrow. There are no banks in the middle, no huge overheads.
Read : NextBigWhat coverage of Faircent

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