Peer-to-peer lending startup, Faircent has raised $250K from Hiro Mashita, Japanse investor.
The funding was raised at a valuation of $8mn and will be used to strengthen technology, expand talent base and increase brand building.
The company had raised an angel round earlier this year.
Faircent is dis-intermediating the banks. The Gurgaon based startup allows individual credit worthy borrowers to directly connect with individual lenders and remove banks from the process thereby saving on the spread banks enjoy while borrowing from depositors and lending to borrowers.