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Business EconomyPosted at: May 2 2017 4:11PM


Singapore Fintech startup forays into Indian market

New Delhi, May 2 (UNI) Singapore-based Fintech startup, FinMomenta today announced the launch of ‘Tachyloans’, the first-of-its-kind integrated digital lending platform in India for individuals as well as businesses.
Tachyloanshas made its entry at a strategically important time in India’s burgeoning fintech sector that is forecasted to touch 2.4 billion dollars by 2020.
On this occasion, Brahma Mahesh Khaderbad, Co-Founder and CEO, FinMomenta said, “P2P lending service emerges as the next level of online lending in a credit starved country like India. Individuals and businesses usually struggle to find loans and we have addressed this need by launching Tachyloans that offers both consumers and businesses significant advantages. With users at the center of our core value proposition, our aim was to create the most user-friendly and accessible P2P lending marketplace possible that is completely automated. Payments to and from our platform are much easier, smoother and transparent.”
At Tachyloans, the entire registration, application and documentation procedure has been simplified for both borrowers and lenders, thereby offering complete transparency throughout the process, the company said in a statement.
Unlike the traditional banks, in Tachyloans lenders can earn returns as high as 25 per cent per annum and borrowers can avail loan at lower interest rates starting from 11.5 per cent per annum.
The background verification check of the borrowers will also be done by various parameters at the backend before getting them on board.
Tachyloans aims to reduce the turnaround times of loan disbursements and is confident to be the fastest digital lending platform in India.
UNI ASH SHK 1610
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