Company Name : LenDenClub
Funding Amount : Undisclosed
Investor(s) Venture Catalyst
Funding Round : Seed round
Venture Catalyst has recently invested seed funding in a peer-to-peer lending platform, LenDenClub.
Some of the veteran investors from VCats, including the likes of AnirudhDamani, Daud Ali, NarendraKarnavat, Vikaskapoor, Vikramlakhotia, Krishna Jhunjhunwaala and Jayesh Shah participated in the funding.
Founded by Dipesh&Bhavin in 2014, LenDenClub is a Fin-Tech startup connecting salaried borrowers to individual lenders.
Currently operating as a web-based platform, LenDenClub considers a combination of traditional and non-traditional data points to validate the credit-worthiness of the lender. Having arranged more than 150 loans till date, the founders plan to utilize the seed funds into further enhancing the platform and ultimately create an end-to-end online lending process.
Bhavin Patel, Co-Founder & CEO, LenDen Club, said “We wanted to bring traditional lending on digital platform. Securing seed funding at such a nascent stage gives us the boost we have been looking for. This will allow us to further improve the platform and reach out to more users. Eventually, we hope to become one of the most widely accessed peer-to-peer lending platforms.”