Indian peer-to-peer lending and credit marketplace startup Lendbox has picked up a pre-Series A backing from early stage investor IvyCap Ventures.
The business, which was launched as an accessible lending and borrowing platform three years ago, said it planned to improve its platform and grow it reach through the investment.
Lendbox looks to match up creditworthy borrowers and willing investors for short to medium term personal unsecured loans.
IvyCap was founded in 2011 by former India Venture Advisor COO Vikram Gupta.
He said, “There is a tremendous opportunity to organise India’s massive unorganised consumer finance industry and serving those outside the purview of traditional financial institutions.”
Other fintech investments from IvyCap include micro-merchant payments and loans business FTCash.
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