RupeeRedee is Attracting over 1 Million Visitors Per Month through Both Website and Mobile App
RupeeRedee is a subsidiary of Digital Finance International, its quick and easy application process requires minimum documentation and the customers can conveniently get access to small-ticket loans ranging from Rs 5000 to Rs 25000. The digital lending platform also has a new product in the pipeline, which will cater to individuals seeking larger loan amounts.
The platform has a transparent product structure and a simple process which is purely customer consent driven and complies with the digital policies.
Currently servicing customers across 25 cities in India, RupeeRedee has witnessed rapid growth since its inception and is attracting over 1 million visitors per month through both website and mobile app. The company is facilitating disbursal of tens of thousands of loans every month and aims to help customers deal with financial expenses through safe, instant and hassle-free loans driven by a completely online and secure process.
They believe in forging mutually beneficial partnerships with meaningful entities across online marketplaces and also physical distribution companies. It has been successful in doing so within the first few months of operations and is committed to nurturing these long-standing relations while striving for more such opportunities.
RupeeRedee started its operations in 2018 to bridge this gap through its unique and impartial suite of tech-driven lending products.
The parent company Digital Finance International (DFI), a global leader in digital lending has invested close to $6Mn over a period of time in RupeeRedee.
RupeeRedee operates with multiple NBFCs in the background to facilitate short-term personal loans coupled with PhyGital, POS, LaaS and Brokerage services to various customer segments including salaried, self-employed, first-time borrowers.
"We see ~500 mn Indians who are banked but are currently under-served when it comes to credit. If you see, there are 800mn+ debit cards in India but < 50 mn credit cards. A large portion of the Indian population has been excluded from the formal financial system, owing to multiple reasons such as lack of awareness about the benefits of financial products and the inability of traditional financial services players to serve this segment cost-effectively. The traditionally underserved population, that was earlier averse to accessing formal financial products, is now embracing them." says Mr. Jitin Bhasin, Managing Director of RupeeRedee & FincFriends.
"We shall continue to offer products at various price points basis customer' profiles and histories thereby positioning us as a – Lender for all. We work with our customers to build their credit histories thereby enhancing their ability to borrow on efficient terms. We intend to complement banks and partner with them and not compete." adds Mr. Jitin Bhasin, Managing Director of RupeeRedee & FincFriends.
RupeeRedee is creating a 'Product Ladder' which will help customers move up the credit curve. They leverage innovations in technology and data sciences to enhance coverage of compelling financial services to customers currently underserved (those who do not have access to credit) by traditional financial institutions, by providing access to credit using best in class technology, backed by Captive NBFC and other lenders.
They intend to offer a suite of loan products to meet the needs of various customer segments including salaried, self-employed, first-time borrowers, customers rejected by other institutions.
RupeeRedee have over 1mn users every month and lacs of downloads. They are facilitating over 10K loans a month, they shall continue to launch innovative products at various price points basis customer profiles thereby positioning them as a – Lender for all. They are committed to investing further in technology, AI and machine learning to further simplify the borrowing experience for our clients and lending experience for our partners.
