RupeeRedee, a digital lending platform, have secured around $6 million in funding. These funds have been raised over a period of time from its parent company Digital Finance International (DFI), a member of Finstar Financial Group headquartered in Russia, which is a diversified Private Equity group focused on fintech.
RupeeRedee also has a digital NBFC, FincFriends Pvt Ltd as its group entity, which disburses loans and has also created an online brokerage platform for other partners NBFCs.
With these funds, the platform now plans to enhance its technology and back-end processes to better evaluate new borrowers thereby expanding its lending operations. RupeeRedee is also growing its team and actively forging new partnerships in digital and point of sale lending, said Jitin Bhasin, Managing Director, RupeeRedee and FincFriends.
Source: The Hindu