Fintech company Finance Buddha said it crossed the landmark disbursal of over Rs 100 crore of consumer loans in May 2016. Funded by Chennai Angels, Finance Buddha has now become one of the biggest and fastest growing retail lending Fintech platforms in the country. A marketplace for lending products like personal loan, business loan, home loans and loan against property, the company aims to disburse over Rs 2000 crore of loans in FY 2016-17. Parth Pande, co-founder and CEO of the company said the company is using omni channel distribution strategy coupled with a huge technology multiplier which helps in seamless matchmaking and recommendations to consumers and insights to the employees and associate networks. It has become one of the few platforms in the country to have real time credit bureau integration, which gives unparalled customer insights at points of sale optimizing the entire customer experience and ensuring a large chunk of consumers can get access to quick and optimal credit solutions, he added. The company has presence in 12 cities in India and has originated loans upwards of Rs 1000 crore in 2015-16 making it one of the top three loan syndication companies in the country. The company is working on using data analytics through predictive modelling and machine learning based techniques on its large customer base to create instantaneous credit solutions for customers in the future, and is already talking to potential lenders for these solutions.
