Online peer-to-peer lending platform Faircent, run thru Fairassets Technologies India Pvt Ltd, has won an undisclosed amount of investment from TV Mohandas Pai led Aarin Capital Partners. As a part of the deal, TV Mohandas Pai, distinctive partner at Aarin Capital, will join the advisory board of the company
Faircent was primarily based in 2013 thru Rajat Gandhi, Vinay Mathews and Nitin Gupta. The startup provides a platform where borrowers and collectors connect in an instant by which borrower get lower rate of interest and collectors get higher price on monetary financial savings.
The company has spherical 15,000 borrowers and 3,000 collectors. It has deployments and commitments in excess of Rs 3 crore from specific individual collectors the use of the marketplace. Over the platform imaginable collectors and borrowers enroll and then have interaction with each other to strike gives on lending and borrowing. Lately, the service is available only for Resident Indians. Faircent now not too way back, advanced proprietary generation to permit credit score rating appraisal and borrower rating tactics in India.
In June 2015, The Gurgaon-based company raised a pre-assortment A funding round of $250,000 from Singapore-based M&S Partners Pte. Ltd. Raised funding used to be as soon as used to beef up the era, hire talent and boost its logo presence.