Moneycontrol
Last Updated : Oct 12, 2018 01:50 PM IST | Source: Moneycontrol.com

AnyTimeLoan gets NBFC P2P licence from RBI, targets monthly Rs 100-cr loan disbursal

Founded by Keerthi Kumar Jain and Neha Jain in 2014, AnyTimeLoan.in is an on-demand peer-to-peer lending platform

Hyderabad-based on-demand peer-to-peer lending platform AnyTimeLoan.in (ATL) has secured NBFC P2P licence from Reserve Bank of India.

Founded by Keerthi Kumar Jain and Neha Jain in 2014, AnyTimeLoan offers  can users option to borrow and lend money.

According to the RBI guidelines, a peer-to-peer lending platform is an intermediary providing the services of loan facilitation via an online medium or otherwise.

“With the recognition from RBI as NBFC P2P, the company has set its eyes on hitting a monthly loan disbursal rate of Rs 100 crore in next 18 months” said K K Jain, Founder & CEO at AnyTimeLoan.in.

ATL claims to have  disbursed over 57,000 loans, aggregating to over Rs 62 crore (gross transaction value over Rs 110 crore).

This website facilitates instant unsecured loans (personal, education and business loans) to eligible borrowers by connecting them with investors or lenders in a 100 percent digital ecosystem.

ATL uses advanced tools and technologies revolving around data science, artificial intelligence, machine learning, and predictive science to ensure real-time decisions on borrowings and lendings.

AnyTimeLoan claims to be a mutual fund lender, wherein the company earns its revenue only when an investor gets his or her money back along with returns.

Also, both the investors and borrowers are not charged any registration fee.

In FY18, AnyTimeLoan's NPAs stood at less than 0.27 percent and contributed its lenders to earn over 39.6 percent per annum as returns.

“The company has created an asset class for investors that offers good returns, high liquidity, complete transparency, convenience to invest on a tap and diversified portfolio with average lending exposure of Rs.10000/- across scientifically screened credible and legitimate borrowers,” said Neha Jain, co-founder and CFO at AnyTimeLoan.
First Published on Oct 12, 2018 12:33 pm
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