Total amount raised
$2.3 Millions
Latest funding date
03/01/2021
Location
Lendbox has successfully raised funding through a Series A round, with IvyCap Ventures as one of its investors. The platform offers a variety of financial products, including P2P lending, instant personal loans, and debt consolidation loans.
Keep reading to explore the intricacies of Lendbox's fundraising journey and the investors backing this innovative platform.
What Is Lendbox?
Lendbox, founded on October 5, 2015, is a leading P2P and alternative investments platform based in New Delhi, India. The company operates in the crowdfunding, financial services, and internet industries.
With a team of 101-250 employees, Lendbox was co-founded by Bhuvan Rustagi, Ekmeet Singh, and Jatin Malwal. The platform aims to fractionalize debt investments, making them more accessible and liquid, and offers a range of financial products including P2P lending and instant personal loans.
How Much Funding Has Lendbox Raised?
- Seed Round
- Amount Raised: ₹60M (approximately $0.8M USD)
- Date: November 2018
- Lead Investors: IvyCap Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds were raised to improve the platform and expand its reach, aiming to organize India's unorganized consumer finance industry and serve those outside traditional financial institutions.
- Series A
- Amount Raised: $1.5M
- Date: March 2021
- Lead Investors: IvyCap Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds were raised to further develop the platform and enhance its financial product offerings.
Total Amount Raised: $2.3M USD. Current Valuation: Not publicly disclosed.
Key Investors
- IvyCap Ventures
- Details: IvyCap Ventures is a venture capital firm that invests in early to growth-stage companies. They have a strong focus on nurturing innovative startups in India.
- Investment Focus Areas: Technology, healthcare, education, consumer businesses
- Notable Investments: Not publicly disclosed
What's Next for Lendbox?
As Lendbox looks to the future, the platform is poised to capitalize on the vast opportunities in India's unorganized consumer finance industry. By serving those outside traditional financial institutions, Lendbox aims to make P2P lending a recognized asset class, akin to mutual funds and stock markets. This presents a tremendous growth opportunity, especially as the fintech sector continues to attract significant investor interest.
Future fundraising rounds are likely, given the favorable trends in the fintech sector and the successful pre-Series A round. The growing investor interest, evidenced by the substantial increase in funding for fintech startups, suggests a supportive environment for Lendbox's expansion plans. However, navigating stringent regulatory guidelines and competing with established players in the P2P lending space will be critical challenges for the company.
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