Digital lending app RupeeReady (registered entity MoneyMitra IT Solutions Pvt Ltd), a subsidiary of Digital Finance International and Finstar Group, is looking at a loan book of over Rs 250 crore by the end of FY12, said its country head Artem Andreev .
“Our target is to cross the loan book of Rs 250 crore by the end of FY 2012. We are in discussions with several NBFCs and banks for debt funding to enhance our portfolio and serve more customers,” said Mr. Andreev.
“Post-COVID-19, the lending industry has seen some tough times, but we have been able to survive and now the business is expected to grow at a faster pace than pre-COVID,” he said.
The firm which provides small ticket personal loans operates through its captive NBFC Fincfriends Pvt Ltd.
Its main focus is on Tier 2 and Tier 3 cities where there is a demand for low ticket loans.
“Tier 2 cities have shown great interest in borrowing and BNPL recently” [Buy Now Pay Later] products,” he said.
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