Digital lending App RupeeRedee (registered entity MoneyMitra IT Solutions Pvt. Ltd.), a subsidiary of Digital Finance International and Finstar Group, is eying a loan book of more than ₹250 crore by end FY22, said Artem Andreev, its country head.
“Our target is to cross ₹250 crore of loan book by the end of FY22. We are in discussion with many NBFCs and banks for debt funding to increase our portfolio and serve more customers,” Mr. Andreev said.
“After COVID-19, the lending industry has seen some tough times but we have been able to survive and now the business is expected to grow back at a faster pace than pre-COVID,” he said.
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The firm which provides small ticket personal loans operates through its captive NBFC FincFriends Private Ltd.
Its major focus is toward the Tier 2 and Tier 3 cities where low ticket loans are in demand.
“Tier 2 cities have recently shown much interest in taking loans and BNPL [Buy Now Pay Later] products,” he said.
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