IndiaLends named to the 2018 CB Insights Fintech 2018 List of Fastest Growing Fintech Startups
New Delhi/Mumbai, 23rd October 2018 – IndiaLends, a credit scoring and analytics platform, today announced that it has been named to the second annual CB Insights Fintech 250 list, a prestigious group of emerging private companies working on groundbreaking financial technology.
The CB Insights research team selected the Fintech 250 companies based on several factors including data submitted by each company as well as a Mosaic Score. The Mosaic Score, based on CB Insights' algorithm, measures the overall health and growth potential of private companies. Through this evidence-based, statistically driven approach, the Mosaic Score can help predict a company’s momentum, market health and financial viability. There were 113 new companies introduced to the 2018 Fintech 250 list.
Started in March 2015 by Gaurav Chopra and Mayank Kachhwaha, both of whom worked at Capital One previously, IndiaLends operates an online marketplace that allows consumers to access the most relevant unsecured credit products offered by various financial institutions based on the consumers’ credit profile. IndiaLends has disbursed over $100 million in personal loans since its launch and has helped nearly 200,000 consumers in securing approvals for credit cards. In addition, IndiaLends also provides credit scoring and end-to-end loan origination services to financial institutions, especially the ones looking to start retail lending operations.
“We have witnessed strong growth in the last financial year with our operational revenues growing by 900%. Our differentiated solution gives us a competitive advantage and we will continue to develop and focus on technological innovations to customize and continually improve consumer experiences as well as seamlessly add new features, channels and markets. Additionally, we intend to launch new products and services that will make our offering even more wholesome. We're honored to have our progress recognized through our inclusion on the Fintech 250 list this year”, said Gaurav Chopra.
Quick facts on the 2018 Fintech 250:
· 30 of the Fintech 250 companies have reached a unicorn valuation of $1B or more
· Since 2017, these 250 private companies have raised $31.8B across 373 deals
· There were 82 $100M+ mega-rounds to the Fintech 250 since 2013, with 33 of them in 2018 year-to-date (YTD)
· 113 new companies were introduced to the 2018 Fintech 250 list
· 44% of the 2018 Fintech 250 list are based outside the United States, representing 31 countries
· Ant Financial is the most well-funded company on the Fintech 250 list, having raised approximately $19.1B across 4 investments