Paisagrowth, a digital matchmaking marketplace for financial products enabled by social commerce, raised USD 250K in a seed round from startup accelerator GSF and other investors on 23 December 2021.
Investors: Startup accelerator GSF and other investors, including Rajesh Sawhney, Founder and CEO of GSF, Dinesh Agarwal and Dinesh Gulati, CEO and COO respectively of IndiaMart and Pras Hanuma, CEO of Infoquest, participated in the latest funding round.
The Objectives behind the funding: The company will deploy the current proceeds to strengthen its product and scale up its operations.
About Paisagrowth
Founded in 2020 by Anurag Tiwari, Paisagrowth is a loan origination, screening and decision automation software built for local financial advisors across India to assist borrowers in getting formal credit. The startup has 14 lending partners on its platform offering personal and SME Loans, including Bajaj Finserv, Indifi, Fullerton, and Lendingkart. It is also looking to ink similar partnerships with complimentary NBFCs, banks, and other lending products. Using Paisagrowth’s recommendation engine, advisors can swiftly find suitable lenders for a borrower without any manual analysis. Advisors can also manage their team within the platform and set up their business independently and scale effectively.
The company claims to work on the education and branding of these advisors continuously to help them become more successful. For its lending partners, the startup offloads a good chunk of their operational burden through the smart journey, filtering and matchmaking process from the data points of borrowers, which in turn offers lenders with completed applications they can easily qualify and roll out a loan offer to. With its matchmaking marketplace, Paisagrowth is leveraging technology to make the lending process efficient while empowering borrowers with informed decision-making.
Paisagrowth is also partnering with retail players and aggregators. It enables credit access for them and their customers from various products and lenders. The Paisagrowth platform can also be utilized by business management platforms to enhance credit access for their stakeholders within their workflow and get a revenue stream open for them.
What the Founder has to say:
“We have had a great journey so far in understanding the industry pain points and addressing them by building a platform that works to the advantage of all three stakeholders of the digital lending ecosystem: borrowers, lenders and financial advisors. With this round of investment, we will be taking our product to the next level and onboarding more lenders and financial advisors on our platform,” said Aabhas Tripathi, co-founder, Paisagrowth.
What the Investor has to say:
Rajesh Sawhney, Founder at GSF Accelerator, said, “Paisagrowth has built a remarkable platform for the digital lending ecosystem that is revolutionizing how consumers shop for loans and how lenders reach new customers. We are really excited to back the Paisagrowth team and look forward to their playing a crucial role in the future growth of India’s digital lending space”.
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