Paisabazaar claims to have disbursed Rs 5000 Cr unsecured loans since launch

Disbursals to the top 10 metros take up 70% of the share in the Rs 5000 crore of unsecured loan disbursals through Paisabazaar. Paisabazaar claims to have disbursed Rs 5000 Cr unsecured loans since launch.

Online Lending marketplace Paisabazaar said that it has disbursed Rs 5000 crore of unsecured loans through its platform since its inception in early 2014, with a year-on-year growth of over 170% for unsecured loans category.

“Even at such large volumes we are only around 2% of India’s unsecured lending market today. We are planning to disburse unsecured loans worth $1 billion in the next 12 months.

Our aim is to reach 10% of the unsecured loan market in the next three to four years,” said Naveen Kukreja, chief executive officer, Paisabazaar.

Paisabazaar claims to have disbursed Rs 5000 Cr unsecured loans since launch

In a note shared with the press, the startup said that 88% of the unsecured loans sourced their platform were disbursed to salaried professionals.

With loan enquires coming from over 1000 locations every month, Paisabazaar claims to have expanded its geographical reach by 10 times.

Disbursals to the top 10 metros, however, take up 70% of the share in the Rs 5000 crore of unsecured loan disbursals through Paisabazaar. The next 30 cities account for 12% of the disbursal share.

Paisabazaar claims to have disbursed Rs 5000 Cr unsecured loans since launch

“Government initiatives like IndiaStack and the phenomenal rise in connected smartphone users have propelled us over the last four years to add great value to consumers buying financial products,” said Kukreja.

Paisabazaar works with over 60 partners, including top public and private banks, NBFCs and digital lenders

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