LenDenClub

LenDenClub is an Indian P2P lending platform owned and operated by Innofin Solutions. Founded in 2015, the company's headquarters are situated in Mumbai, India.

History

LenDenClub was founded by Bhavin Patel and Dipesh Karki in 2015 as a web-based platform. In 2016, the company received funding in a seed round led by Venture Catalysts and launched an Android-based application to connect borrowers with individual lenders. As of 2016, LenDenClub had 700 lenders and 1,120 borrowers. In 2018, LenDenClub raised another $1.5 million in its Pre-series A round, and its parent company Innofin received a license from Reserve Bank of India to operate as an NBFC-P2P company. By 2019, the company expanded its operations to six states. In December 2019, the RBI increased the lending limit on P2P platforms to Rs 50 lakh, up from the previous limit of Rs 10 lakh.

In 2021, LenDenClub was chosen to participate in the Microsoft for Startups program and its co-founders Bhavin Patel and Dipesh Karki were featured in the Businessworld's BW Disrupt 40 Under 40 list. LenDenClub works with fintech companies such as BharatPe, PhonePe, Google Pay, and announced its collaboration with Samir Kochhar, to launch its first brand campaign.

In December 2021, LenDenClub received $10 million in series A round funding, with participation from various investors at a valuation of $51 million. In 2022, the company launched a Fixed-Maturity P2P Plan (FMPP), which enables its members to lend money for a fixed tenure. In April 2022, 'LenDenClub Alpha,' a corporate venture, was launched to provide mentorship and support to early-stage startups during their seed and pre-Series stages. Also, in october, LenDenClub started The Bharat Fintech Program’ in association with Reseau and announced a ₹2 crores investment in rural fintech startups. The company participated in a fundraise round for Hubbler, a no-code platform. LenDenClub is the first P2P lending company to enable ESOP (Employee Stock Ownership Plan) liquidation for its employees. In 2023, LenDenClub appointed Indian cricketer Hardik Pandya as its brand ambassador.

Awards

• Deloitte Tech Fast 50

References

1. LEN Champions League
2. Len Cariou
3. Financial technology in India
4. Millwall F.C.
5. Len Hutton
6. Dénes Varga
7. Thep Xanh Nam Dinh F.C.
8. 2024 Women's European Water Polo Championship
9. LEN European Aquatics Championships
10. 2022–23 LEN Challenger Cup
11. Becamex Binh Duong
12. Presidents Club
13. Deaths in January 2024
14. 2015 in British television
15. List of 2024–25 NBA season transactions
16. LEN Champions League records and statistics
17. X-Men '97
18. List of IFC Films films
19. List of Alfred Hitchcock Presents episodes
20. Len Dobbin