LenDenClub Alpha introduces ‘The Bharat Fintech Program,’ allocating Rs 2 crore for investment

• ByStartupStory     |    October 20, 2022

In collaboration with Startup Réseau, LenDenClub Alpha, a corporate venture capital (CVC) of LenDenClub, has launched ‘The Bharat Fintech Program.’

Under the program, a corpus of Rs 2 crore has been made out for investment.

The goal of the program is to promote and assist creative Indian firms in semi-urban and rural locations, as well as to offer impetus to fledgling entrepreneurs in the Indian fintech field from tier two and tier three.

LenDenClub, founded by Bhavin Patel and Dipesh Karki in 2015, is a peer-to-peer lending network. “With the Bharat Fintech Program, we are on a mission to identify the most innovative businesses arising out of Bharat. We are talking about bringing the impact to the lives of 800 million who reside in 6 lakh villages across the geographical expanse of the country. We currently have a significant chunk of users coming from Tier II cities, semi-urban and rural areas in our P2P business. We believe that we can expand the services offered to us with the support of our investee companies. The ultimate aim is to improve rural livelihoods,” said Bhavin Patel, on the launch.

LenDenClub Alpha will conduct start-up engagement efforts in areas such as Maharashtra, Telangana, Gujarat, Karnataka, Tamil Nadu, Kerala, and Rajasthan.

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