i2iFunding Company Profile

Background

Overview

i2iFunding is a leading peer-to-peer (P2P) lending platform in India, established in 2015. It operates as a Non-Banking Financial Company - Peer to Peer (NBFC-P2P) under the Reserve Bank of India (RBI), facilitating direct lending between individuals seeking unsecured personal loans and investors aiming for higher returns.

Mission and Vision

The company's mission is to enhance financial inclusion by providing accessible and affordable credit to underserved segments, including individuals with no credit history, small business owners, self-employed professionals, and newly employed salaried personnel. Its vision is to revolutionize the lending landscape in India by leveraging technology to connect borrowers and lenders efficiently.

Primary Area of Focus

i2iFunding focuses on offering unsecured personal loans up to ₹10 lakhs for both personal and business expansion purposes. The platform emphasizes serving borrowers who are typically underserved by traditional financial institutions.

Industry Significance

As one of the pioneers in India's P2P lending sector, i2iFunding plays a crucial role in bridging the credit gap for individuals and small businesses, thereby contributing to the country's financial inclusion objectives.

Key Strategic Focus

Core Objectives

• Financial Inclusion: Provide accessible credit to underserved populations.

• Investor Returns: Offer attractive returns to investors by connecting them with creditworthy borrowers.

• Technological Innovation: Utilize advanced technology to streamline lending processes and enhance user experience.

Specific Areas of Specialization

• Unsecured Personal Loans: Cater to individuals without existing credit histories.

• Small Business Financing: Support small business owners seeking capital for expansion.

Key Technologies Utilized

• Big Data Analytics: For comprehensive credit evaluation.

• Machine Learning Algorithms: To assess borrower risk profiles accurately.

• Automated Credit Evaluation: Ensures fast approval of loan applications.

Primary Markets Targeted

• Geographical Focus: Initially concentrated in metropolitan and tier I cities, with plans for expansion into southern India, including Bengaluru and Hyderabad.

• Demographic Focus: Individuals and small businesses lacking access to traditional banking services.

Financials and Funding

Funding History

• Initial Funding: Raised ₹2 crore (approximately $300,000) in May 2016 from a group of angel investors.

• Second Round: Secured ₹5 crore in March 2018, led by SucSEED Venture Partners, to strengthen technology and infrastructure.

• Third Round: In June 2019, received additional funding from SucSEED Venture Partners, marking their second investment in the company.

Total Funds Raised

Over the years, i2iFunding has raised over ₹12 crore (approximately $1.5 million) to support its growth and expansion initiatives.

Utilization of Capital

• Technology Development: Enhancing the platform's technological infrastructure.

• Geographical Expansion: Establishing a presence in new markets, particularly in southern India.

• Operational Scaling: Increasing loan disbursal capabilities to meet growing demand.

Pipeline Development

Key Pipeline Candidates

• Loan Products: Development of new loan products tailored to specific borrower segments.

• Investor Products: Introduction of investment products offering higher returns to attract more investors.

Stages of Development

• Product Development: Ongoing research and development to create customized loan and investment products.

• Market Testing: Pilot programs in select regions to assess product viability.

Target Conditions

• Borrower Segments: Individuals with no credit history, small business owners, self-employed professionals, and newly employed salaried personnel.

• Investor Segments: Retail investors seeking higher returns than traditional investment avenues.

Anticipated Milestones

• Product Launches: Scheduled for the next fiscal year, pending successful market testing.

• Market Expansion: Planned entry into new geographical markets within the next two years.

Technological Platform and Innovation

Proprietary Technologies

• Credit Scoring Model: A proprietary model evaluating borrowers on over 40 parameters to assess creditworthiness.

• Automated Loan Processing: End-to-end automation of loan origination, credit evaluation, and monitoring.

Significant Scientific Methods

• Big Data Analytics: Utilized for comprehensive credit evaluation and risk assessment.

• Machine Learning Algorithms: Employed to continuously improve credit scoring accuracy and loan monitoring.

Leadership Team

Key Executives

• Vaibhav Kumar Pandey: Co-founder and CEO. MBA from IIM Ahmedabad with over 12 years of experience in operations and technology. Leads automation and strategic tie-ups at i2iFunding.

• Raghavendra Pratap Singh: Co-founder and COO. MBA from IIM Calcutta with over 12 years of experience in product development and digital marketing. Oversees product development and lender acquisition.

• Neha Aggarwal: Co-founder and Head of Credit. MBA from XIM Bhubaneswar with experience in brand management and financial products. Leads credit evaluation and risk assessment.

• Abhinav Johary: Co-founder and Head of Operations. Over 7 years of experience in business operations and process setup. Manages loan origination and operations.

• Manisha Bansal: Co-founder and CFO. Chartered Accountant with over 8 years of experience in finance and treasury. Oversees investor relations and strategic planning.

Competitor Profile

Market Insights and Dynamics

• Market Size: The Indian P2P lending market is projected to reach $4-5 billion over the next five years.

• Growth Potential: Significant opportunities exist due to the large unbanked population and increasing digital adoption.

Competitor Analysis

• Faircent: Established in 2013, it is one of the largest P2P lending platforms in India, offering personal and business loans.

• Lendbox: Founded in 2015, it provides P2P lending services focusing on personal loans and investment opportunities.

• IndiaLends: Established in 2014, it offers a range of financial products, including personal loans and credit cards.

Strategic Collaborations and Partnerships

• SucSEED Venture Partners: Invested in i2iFunding in multiple rounds, providing capital and strategic guidance.

Operational Insights

• Competitive Advantages: Proprietary credit scoring model, automated loan processing, and a focus on underserved borrower segments.

• Market Position: Strong presence in metropolitan and tier I cities, with plans for expansion into southern India.

Strategic Opportunities and Future Directions

Strategic Roadmap

• Product Diversification: Develop new loan and investment products tailored to specific borrower and investor needs.

• Geographical Expansion: Establish a presence in additional cities, particularly in southern India.

• Technological Enhancement: Invest in advanced technologies to improve credit evaluation and loan monitoring processes.

Future Business Directions

• Market Leadership: Aim to become a leading P2P lending platform in India by expanding user base and loan disbursal volumes.

• Financial Inclusion: Continue efforts to provide accessible credit to underserved populations, supporting national financial inclusion goals.

Contact Information

• Official Website: i2iFunding

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• Facebook: i2iFunding

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