3. Alternative Lending India, July 2016
Contents
Topic Page No.
Scope of Report 05
Entrepreneur Activity 10
Investment Trend 12
Who is Investing 19
Exit Outlook - IPO, Acquisitions 23
Sub Sector Analysis 25
Expert Speaks - Insights from Blume Ventures 36
Interesting Companies 42
Useful Links 44
Company List 46
Team 102
3
4. Alternative Lending India, July 20164
Illustrative Sectors We Track
OFFLINE
AGRICULTURE
FOOD & BEVERAGE
OUTSOURCING
CONSUMER GOODS
HEALTHCARE
FINANCE
EDUCATION
MEDIA & ENTERTAINMENT
TECH
MOBILE
MARKETPLACES
CONSUMER DIGITAL
ENTERPRISE TECH
FINTECH
ADTECH
HEALTHTECH
EDTECH
SaaS
TECHNOLOGY
CROSS BORDER
Payments
Mobile Payments
Investment Tech
Banking Tech
Alternative Lending
Bitcoin
Forex
Insurance Tech
Consumer Finance
Enterprise Finance
Crowdfunding
Software for Institutional Investors
5. Alternative Lending India, July 20165
Sector Overview
Scope of report
This report covers lending companies which operate through an online platform and helps lenders with documentation, loan
servicing/operations. These platforms are not backed, operationally, by traditional brick & mortar financial institutions and use
alternative data points for credit scoring. The report also covers companies that enable lending by offering alternate credit
scores to financial institutions, helping people improve their credit scores and aggregating lending products through which users
can check their eligibility.
The online lending platforms have been categorized into consumer lending platforms, business lending platforms and invoice
financing platforms.
Further each of these sub sectors have been divided into following business models:
The scope of this report includes equity as well as debt funding received by the companies.
Business Model Description
Direct Lenders Platforms that are registered as a NBFCs and give loans on their own books
B2C Marketplaces Platforms that tie up with lenders for loan origination. Lenders include financial institutions and banks
P2P Marketplaces Platforms that allow individual investors to offer loans
8. Alternative Lending India, July 2016
8
8
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Expert Speaks - Insights from Blume Ventures
Interesting Companies
Useful Links
Company List
Team
9. Alternative Lending India, July 20169
YoY – Number of companies founded
8 9 9 10
28
70
14
0
10
20
30
40
50
60
70
80
2010 2011 2012 2013 2014 2015 2016
NumberofCompanies
Milaap EarlySalary
10. Alternative Lending India, July 2016
0
10
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Expert Speaks - Insights from Blume Ventures
Interesting Companies
Useful Links
Company List
Team
11. Alternative Lending India, July 201611
YoY – Number of Rounds and Total Funding
$1M $3M $0.1M
$6M
$0.1M
$4M
$18M
$103M
$68M
1 1 1
2
1
3
6
22
22
0
5
10
15
20
25
0
24
48
72
96
120
2008 2009 2010 2011 2012 2013 2014 2015 2016
NumberofRounds
FundingAmount(inMillions)
Funding Amount Number of Rounds
Note: The funding includes debt rounds also.
17. Alternative Lending India, July 2016
7
17
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Expert Speaks - Insights from Blume Ventures
Interesting Companies
Useful Links
Company List
Team
18. Alternative Lending India, July 201618
Most Active Investors in Sector
7
5
3 3 3
2 2 2 2 2
0
1
2
3
4
5
6
7
8
Sequoia Capital Aspada
Investments
Accion SAIF Partners Walden
International
Aarin Capital Accel Partners DSG Consumer
Partners
Elevar Equity Kalaari
TotalNumberofDeals
CreditVidya
21. Alternative Lending India, July 2016
1
21
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Expert Speaks - Insights from Blume Ventures
Interesting Companies
Useful Links
Company List
Team
22. Alternative Lending India, July 201622
Major Acquisitions
Date Company Acquirer Deal Size Overview
Total
Funding
Jul-2015 apnapaisa.com
APNAPAISA
(Mumbai, 2007)
andromedaloans.com Undisclosed
Online marketplace for loans and investment products
Sequoia Capital, Jafco Asia, Intel Capital, ChrysCapital
$20.2M
Andromeda, a Direct Sales Agent acquired apnapaisa.com in stock and cash deal. APNAPAISA has disbursed loans worth more than INR 5000 Crores and has 100K+
customers
Apr-2015 rupeepower.com
RupeePower
(Gurgaon, 2011)
snapdeal.com Undisclosed
Online platform for personalized loan rates and
insurance quotes
Undisclosed
RupeePower was acquired by Snapdeal in a cash and equity deal reported to be around $50M. The company has disbursed loans worth INR 1500 Crore in FY15
23. Alternative Lending India, July 2016
3
23
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Expert Speaks - Insights from Blume Ventures
Interesting Companies
Useful Links
Company List
Team
24. Alternative Lending India, July 201624
July 2016Tracxn BlueBox : Alternate Lending - India
Cumulative funding in the sector
150+ companies in the sector, 38 funded since 2011, $171M invested in 2015/16
24
0
20
40
60
80
YoY Startups Founded
0
50
100
150
YoY funding trend (in $M)
25. Alternative Lending India, July 201625
Top Business Models by Funding
$104M
$96M
$21M
$5M
0
24
48
72
96
120
Loan Comparison Platforms Commercial Loans Consumer Loans Credit Scoring and
Credit Score Improvement Platforms
TotalFundingAmount(inMillions)
# Cos. 43 32 68 11
CreditVidya
26. Alternative Lending India, July 201626
Loan Comparison Platforms – Entrepreneur
Activity and Investment Trend
34. Alternative Lending India, July 201634
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Expert Speaks - Insights from Blume Ventures
Interesting Companies
Useful Links
Company List
Team
41. Alternative Lending India, July 2016
1
41
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Expert Speaks - Insights from Blume Ventures
Interesting Companies
Useful Links
Company List
Team
42. Alternative Lending India, July 201642
Deadpooled Companies
Company Overview Business Model
Funding
Amount
finrek.com
Finrek
(2014, Jaipur)
Online marketplace for loan offers
Loan Comparison Platforms $50K
kreditkonnection.com
Kredit Konnection
(2015, Mumbai)
B2C Marketplace for personal loans Consumer Loans > Personal Loans >
B2C Marketplace
instaloans.in
Instaloans
(2015, Bangalore)
Platform for personal loans Consumer Loans > Personal Loans >
B2C Marketplace
finnovo.in
Finnovo
(2015, Hyderabad)
Advance loans on invoices/receivables Commercial Loans > Working Capital
> Alternate Financing > Discounting
loansetu.com
Loansetu
(2015, Delhi)
Marketplace Connecting Borrowers and Lenders
Commercial Loans > B2C Marketplace
hedwic.com
Hedwic
(2015, Hyderabad)
Peer to peer lending platform Consumer Loans > Personal Loans >
P2P Marketplace
instakash.in
InstaKash
(2014, Bangalore)
SMB lending platform for terms loans and automobiles
Commercial Loans > B2C Marketplace
smefinancemart.com
SMEFinancemart
(2014, Gurgaon)
Finance facilitator for MSMEs
Commercial Loans > B2C Marketplace
43. Alternative Lending India, July 2016
3
43
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Expert Speaks - Insights from Blume Ventures
Interesting Companies
Useful Links
Company List
Team
44. Alternative Lending India, July 201644
Useful Links
Title Content Platform Link
List of All Companies in readable format Companies Link
Upcoming Sectors Entrepreneur Activity Link
Recent Transactions Investment Trend Link
Acquisitions till date Exit Outlook - IPO, Acquisitions Link
Deadpooled Companies Companies Link
Fintech India Business Models Link
Fintech India Landscape Link
45. Alternative Lending India, July 2016
5
45
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Expert Speaks - Insights from Blume Ventures
Interesting Companies
Useful Links
Company List
Team
46. Alternative Lending India, July 2016
COVERS THE FOLLOWING SECTORS
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement Platforms
Loan Comparison Platforms
Alternative Lending India – Company List
46
47. Alternative Lending India, July 201647
Commercial Loans (1/11)
47
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
Company Details Funding Investors
B2C Marketplace
Indifi [Gurgaon, 2015]: Indifi is a SME lending platform which aims to connect
small businesses with formal lending institutions and enable disbursements
within four days from application. It collects a fee for the services provided to
lenders – from marketing, to data collection and analysis, and on-ground
documentation and verification. Claims to have partnered with travel and
ticketing platform, cab aggregator and ecommerce company. It has raised funding
from Accel Partners, Elevar Equity, Pramod Bhasin, Rajan Anandan, Gaurav
Dalmia, Abhishek Goyal, Gagan Hasteer and Arun Tadanki.
Accel Partners, Elevar Equity
B2C Marketplace
Biz2Credit [Noida, 2011]: Biz2Credit is an online credit resource for startups and
small businesses. It is an online marketplace bringing together lenders and fund
seekers to get small business loans, lines of credit, equipment loans, working
capital and other business funding options. Partners include Axis Bank, Deutsche
Bank, Indiabulls, Bajaj Finserv, Bank of Maharashtra, etc. Indian subsidiary of
Biz2Credit which has raised $250M from Direct Lending Investments.
B2C Marketplace
Loan Frame [Mumbai, 2015]: Loan Frame is a SME lending marketplace. Uses
proprietary technologies to originate, underwrite and distribute small business
lending products. The company builds its own credit score, with traditional and
non-traditional credit metrics.
48. Alternative Lending India, July 201648
Commercial Loans (2/11)
48
Company Details Funding Investors
B2C Marketplace
InstaKash [Bangalore, 2014]: Instakash aims to empower small businesses using
the lending platform. They are currently offering terms loans and line of credit to
small businesses and car owners who are partnered with Ola, Uber, Taxiforsure or
Meru. Uses proprietary algorithm to arrive at alternate credit scores. Claims that
the application process can be completed in minutes and loan is processed in 72
hours. The company has a NBFC license. Has received undisclosed amount of
funding from angel investors.
B2C Marketplace
SMEFinancemart [Gurgaon, 2014]: SMEFinancemart is a web based venture that
enables MSMEs to access funding and government schemes. The company works
as a business advisory platform where it helps facilitation of timely credit flow to
micro & small businesses. It assesses the needs of MSMEs and in consultation
with them chooses the most appropriate product and suitable lenders who have
the matching risk appetite. It further submits a quality application to the lender
for loan sanction.
B2C Marketplace
Namaste Credit [Bangalore, 2014]: Online maketplace for business loans which
matches funding needs of businesses with lenders. The platform helps with rating
the business and submitting the required information and paperwork to multiple
lenders in order to get approval for then needed capital. Also offers a
customizable financing program for businesses with less than perfect credit score.
Uses its risk scoring algorithm to match borrowers to financial in a secure
environment.
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
49. Alternative Lending India, July 201649
Commercial Loans (3/11)
49
Company Details Funding Investors
B2C Marketplace
ZoukLoans [Delhi, 2015]: ZoukLoans is an online lending platform offering
collateral free working capital loans and secured term loans. The company has
tied up with 60 lenders and claims to have screened 1100+ applications. Lending
partners include BNP Paribas, Bajaj Finserv, Citibank, Karvy Finance among
others.
B2C Marketplace
CoinTribe [Delhi, 2015]: CoinTribe is a lending marketplace offering business and
personal loans. Claims that the loan is approved in 10 minutes. The company uses
a proprietary algorithm to link multiple data sources ranging from the credit
bureau to social media to determine the credit worthiness of an SME. As of April
2016, the company was getting upto 30 applications on a daily basis. Backed by
Puneet Dalmia, MD of Dalmia Cements.
B2C Marketplace
SMELending [Bangalore, 2015]: SMElending.com is a lending marketplace that
connects buyers, business sellers, and lenders. The company uses non-traditional
data points to reduce the operational risk & costs of lending. Smelending.com is a
business initiative of Innoviti Payment Solutions. It also claims to be present in
30+ cities and distribute 400 loans daily with Rs. 400 crores distributed annually
and claims to have 20,000 registered buyers.
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
50. Alternative Lending India, July 201650
Commercial Loans (4/11)
50
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
51. Alternative Lending India, July 201651
Commercial Loans (5/11)
51
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
52. Alternative Lending India, July 201652
Commercial Loans (6/11)
52
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
53. Alternative Lending India, July 201653
Commercial Loans (7/11)
53
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
54. Alternative Lending India, July 201654
Commercial Loans (8/11)
54
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
55. Alternative Lending India, July 201655
Commercial Loans (9/11)
55
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
56. Alternative Lending India, July 201656
Commercial Loans (10/11)
56
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
57. Alternative Lending India, July 201657
Commercial Loans (11/11)
57
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
58. Alternative Lending India, July 201658
Consumer Loans (1/24)
58
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
59. Alternative Lending India, July 201659
Consumer Loans (2/24)
59
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
60. Alternative Lending India, July 201660
Consumer Loans (3/24)
60
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
61. Alternative Lending India, July 201661
Consumer Loans (4/24)
61
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
62. Alternative Lending India, July 201662
Consumer Loans (5/24)
62
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
63. Alternative Lending India, July 201663
Consumer Loans (6/24)
63
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
64. Alternative Lending India, July 201664
Consumer Loans (7/24)
64
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
65. Alternative Lending India, July 201665
Consumer Loans (8/24)
65
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
66. Alternative Lending India, July 201666
Consumer Loans (9/24)
66
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
67. Alternative Lending India, July 201667
Consumer Loans (10/24)
67
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
68. Alternative Lending India, July 201668
Consumer Loans (11/24)
68
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
69. Alternative Lending India, July 201669
Consumer Loans (12/24)
69
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
70. Alternative Lending India, July 201670
Consumer Loans (13/24)
70
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
71. Alternative Lending India, July 201671
Consumer Loans (14/24)
71
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
72. Alternative Lending India, July 201672
Consumer Loans (15/24)
72
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
73. Alternative Lending India, July 201673
Consumer Loans (16/24)
73
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
74. Alternative Lending India, July 201674
Consumer Loans (17/24)
74
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
75. Alternative Lending India, July 201675
Consumer Loans (18/24)
75
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
76. Alternative Lending India, July 201676
Consumer Loans (19/24)
76
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
77. Alternative Lending India, July 201677
Consumer Loans (20/24)
77
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
78. Alternative Lending India, July 201678
Consumer Loans (21/24)
78
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
79. Alternative Lending India, July 201679
Consumer Loans (22/24)
79
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
80. Alternative Lending India, July 201680
Consumer Loans (23/24)
80
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
81. Alternative Lending India, July 201681
Consumer Loans (24/24)
81
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
82. Alternative Lending India, July 201682
Credit Scoring and Credit Score Improvement
platforms (1/4)
82
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
83. Alternative Lending India, July 201683
Credit Scoring and Credit Score Improvement
platforms (2/4)
83
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
84. Alternative Lending India, July 201684
Credit Scoring and Credit Score Improvement
platforms (3/4)
84
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
85. Alternative Lending India, July 201685
Credit Scoring and Credit Score Improvement
platforms (4/4)
85
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
86. Alternative Lending India, July 201686
Loan Comparison Platforms (1/15)
86
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
87. Alternative Lending India, July 201687
Loan Comparison Platforms (2/15)
87
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
88. Alternative Lending India, July 201688
Loan Comparison Platforms (3/15)
88
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
89. Alternative Lending India, July 201689
Loan Comparison Platforms (4/15)
89
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
90. Alternative Lending India, July 201690
Loan Comparison Platforms (5/15)
90
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
91. Alternative Lending India, July 201691
Loan Comparison Platforms (6/15)
91
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
92. Alternative Lending India, July 201692
Loan Comparison Platforms (7/15)
92
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
93. Alternative Lending India, July 201693
Loan Comparison Platforms (8/15)
93
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
94. Alternative Lending India, July 201694
Loan Comparison Platforms (9/15)
94
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
95. Alternative Lending India, July 201695
Loan Comparison Platforms (10/15)
95
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
96. Alternative Lending India, July 201696
Loan Comparison Platforms (11/15)
96
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
97. Alternative Lending India, July 201697
Loan Comparison Platforms (12/15)
97
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
98. Alternative Lending India, July 201698
Loan Comparison Platforms (13/15)
98
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
99. Alternative Lending India, July 201699
Loan Comparison Platforms (14/15)
99
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
100. Alternative Lending India, July 2016100
Loan Comparison Platforms (15/15)
100
Commercial Loans Consumer Loans
Credit Scoring and Credit Score
Improvement platforms
Loan Comparison Platforms
101. Alternative Lending India, July 2016
1
101
Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Expert Speaks - Insights from Blume Ventures
Interesting Companies
Useful Links
Company List
Team
102. Alternative Lending India, July 2016102
Team
Prasanna Munot,
Analyst – Fintech India
Zerish Nazir,
Lead Analyst – Fintech India