Bnpl, Company

India's highest-rated lending app, EarlySalary, witnessed a 6.1x growth in AUM since the Q1 of FY2021.EarlySalary has disbursed over Rs.5,400Cr since inception and has now grown up to 426 employees.EarlySalary offers products easy financing solutions to young middle-income aspiration Indians like cash loans, personal loans, Buy Now Pay Later schemes & Credit linked Cards with disbursals in just 10 minutes.EarlySalary's proprietary AI/ML credit risk analysis systems enable the company to effectively underwrite and manage a range of products small ticket-size loans to card products to offer right customized product offering to suit its customer segments and credit needs. What's more, through this robust risk assessment system, EarlySalary has been able to offer a credit line even to new-to-credit customers - a segment that is underserved by other financial services providers. More than 90% of the loans disbursed by the company are auto-decisioned, enabling quicker loan disbursals.Over the past year, the company also forayed into the affordability segment and introduced BNPL offerings to its customer segment. Within a short span of time, hundreds of partners merchants across sectors like EdTech, HealthTech, E-Commerce platforms and insurance companies have tied up with EarlySalary.EarlySalary core focus on customer centricity has led to an industry-beating performance in customer rating and posed as one of the highest-rated lending apps in the country with the highest retention rate, and customer retention enhances customers' lives every day. The company is confidently emerging as a market leader in financial solutions for aspirational young working Indians. It operates with a fully digitized and instant decision-making system that allows its customers to borrow funds in seconds. Its affordable interest rates, instant processing, flexible repayment options make it a preferred credit option for its customer.Speaking on the occasion, Akshay Mehrotra, Co-Founder and CEO of EarlySalary, said, "We at EarlySalary, have successfully made digital credit possible and providing a seamless customer experience at affordable costs. EarlySalary aims to make credit access easier to India's digitally-savvy young generation, which drives the major consumption of products and internet services. Over the past 6 years, we have built one of the largest consumer lending FinTech companies in India and have disbursed over 2.4 million loans. The company delivered customer-centric products, which fulfilled their needs and delighted them with better services."To this, Ashish Goyal, Co-Founder and CFO of EarlySalary added, "We have been able to exponentially grow our AUM and are profitable in doing so. Our product facilitates the changing demands of the consumers and significantly drives their confidence in digital transactions. We firmly believe that the services provided will facilitate the changing demands of the consumers and significantly drive their confidence in digitizing the monetary transactions."In this 6-year journey, EarlySalary has touched the lives of millions of people and has successfully helped a lot of first-time working professionals. As consumers' aspirations are growing, EarlySalary hopes to cater to more and more consumers and become a lender of preference for every professional in India. Over the years, the brand has taken many steps to offer an enhanced credit experience to customers.This story is provided by BusinessWire India.will not be responsible in any way for the content of this article. (ANI/BusinessWire India)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

BnplFOLLOW

Bnpl, Latest News

New Delhi, March 23 Pankaj Bansal, Director – M3M India says, "It is time for end-to-end built-in business ... ...

Since most of the buyers are depending upon loans from the banks and financial institutions, timely possession has become a critical factor in the realty sector. ...

BSE (560961) & NSE (VIKASECO) listed Vikas Ecotech Ltd. an emerging player in the global arena of the high end specialty chemicals players, offering eco-friendly and technologically superior products to the world has announced that on persistence and ...

Mumbai, March 19 'Bigg Boss 6' fame Karishma Kotak is all set to be part of director Shaad ... ...

Bengaluru headquartered fintech platform Money View has raised USD 75 million in their series D funding from Tiger Global, Winter Capital, Evolvence India, Accel along with other investors including South Park Commons, Trusted Insight and Dream Incub ...

TVS Motor Company registered sales of 281,714 units in February 2022 as against sales of 297,747 units in the month of February 2021. ...

In line with the government's mission of making India "Aatmanirbhar", Biz2X launched first-of-its-kind middleware platform "Maadhyam". ...

India's highest-rated lending app, EarlySalary, witnessed a 6.1x growth in AUM since the Q1 of FY2021. ...