IndiaLends, a leading digital lending platform has raised $5.1 million in financing led by existing investors ACP Partners and DSG Consumer Partners. The Delhi NCR-based firm will use the funds to expand its technology platform, increase its market footprint and amplify its product offerings to meet the pent-up demand in a post-COVID economic recovery. IndiaLends has over 8 million customers through its 50-plus bank and NBFC partners across the country. The company has disbursed more than Rs 2,000 crores in personal loans since its launch via its technology platform and API-based lending solutions that it offers to other B2C companies.

The company aims to emerge as the leading financial marketplace in India and double the disbursements in the next 18-24 months with a focused outreach towards retail consumers living across tier I-II cities and tier III towns. IndiaLends Founder and CEO Gaurav Chopra said, “This fresh round of financing comes at a critical point in our business, enabling us to build our services and offer innovative products to our customers, as we usher into the next phase of growth.” He added, “Although the pandemic had a severe impact on the sector, it has also led to the belief that digital lending is now the new normal. This investment is a testament to the fact that the sector is going to witness an upward curve in the days to come.”