FriendLoan is a Fintech incorporated in the year 2017. Founded by IITans, was processing upward of 10,000 loans a day and in absolute terms disbursed 10,000 Small ticket Digital loans with FriendLoan App. In the process we were able to give qualified leads to other NBFC.
So far the platform has generated leads of 65,00,000 and accepted loan applications from lakhs which are digitally checked and processed within fraction of seconds. All this is done by an intelligent proprietary engine and the AI/ML "Socrates".
The entire model is a do-it-yourself model where customers complete the journey by themselves in the Loan APP. The user interface is designed and built to give a seamless journey to the customer. The Platform provides digital small ticket business loans up to Rs.5,00,000 for tenures ranging from 4 to 24 months.
The Investors in STPL and FTPL are veterans from the banking industry. All the Loans are processed through its subsidiary NBFC Sampathi Credits Private Limited an NBFC.
