RevFin is a financial technology (FinTech) start-up which is building the world’s most advanced digital lending platform
Digital lending startup, RevFin, gets RBI approval to acquire an NBFC
Delhi based digital lending startup, RevFin has today announced that Reserve Bank of India (RBI) has given them approval to acquire Aristo Securities Private Limited, a non-banking financial company (NBFC). For RevFin, this acquisition is a step forward towards helping people fulfils theirs dreams and aspirations by providing them access to credit. The company underwrites and disburses loans digitally through Android and iOS Apps.
An enthused Sameer Aggarwal, Founder, RevFin said, “We are very happy that we have received this approval from the Reserve Bank of India as it will help us build and grow our own balance Sheet.”
“Our platform provides instant loans digitally to those in need. Our unique and innovative approach to underwriting is contributing towards making India truly a financially inclusive nation.” Sameer further added
The company has already started its lending operations in some cities of India, focussing on citizens of tier 2 and tier 3 cities. The company is looking to target a monthly loan disbursal rate of Rs 2 crores in the next 6 months to build a lending book of INR 500 crores in the next 5 years through market expansion across India. The startup also plans to expand globally over time.
RevFin is a financial technology (FinTech) start-up which is building the world’s most advanced digital lending platform. The platform will be used to underwrite and manage consumer loans through its own NBFC. Through their unique approach to underwriting, rich value proposition, and a differentiated distribution model, RevFin plans to build a lending book of Rs.500Cr ($45Mn) in the next 5 years, with ROE of 20%+. Their vision is to create a lending platform that is agnostic of language, literacy, geography, and culture. Once the platform has been proven successful, the company will use it to rapidly scale the lending book in India while leveraging the platform in other geographies.