Expect to record an INR 250 crore turnover in FY2024-25.
Plans to disburse 3 Lakh Loans & achieve ₹1000 Cr Revenue by FY2027
New Delhi, May 15th, 2024: Having launched its tailor made and customer-centric innovative financial solutions, Rupee112, an RBI registered lending non-banking financial company, has rolled out aggressive growth strategy, targeting ₹1000 crore in revenue and disburse 3lakh loans by Fy2027 over the next 3 years. This company is expecting to record an INR 250 crore turnover in Fy2024-25 and reaching a wider audience with a range of loan options.
In its bid to revolutionize the lending industry, Rupee112 is rolling out instant loan solutions for empowering people facing urgent financial needs with quick access to swift, small-ticket emergency loans. The emerging Fintech company is set to disrupt the unsecured loans market though its innovative financial products which aims at infusing financial resilience in people regardless of their credit score.
Speaking about the growth plans, Vikkas Goyal, Founder, Rupee112, said, “We are extremely excited to witness the response to our financial product offerings. At Rupee112, it is our single-minded endeavour to provide emergency loans to individuals facing urgent financial needs. Today, the Indian market is flooded with several similar lending products. However, Indian market is diverse with a varying customer needs. Hence, our continuous endeavour is to identify the gaps in the market and create suitable, swift, and accessible financing options for those in financial crises. Our mission was born out of a commitment to serving everyone and bring about financial stability in the lives of people from all walks of life. We have been experiencing a healthy growth trajectory, which is reflected in our consistent 20% month-over-month revenue growth. By disbursing over 3 lakh loans, we aim to achieve triple-digit revenue growth in the next three years. We're also endeavouring to reach out to a larger target audience by executing an inclusive growth strategy.
“Based on our present Monthly Recurring Revenue (MRR), we expect to reach a turnover of 250 crores this year. Our target is to achieve a 300% growth, reaching a turnover of 1000 Crores within the next three years,” Vikkas Goyal, Founder, Rupee112, added.
Backed by industry leading Fintech technologies and credit assessment systems, ‘Rupee112’ facilitates a 100% paperless, digital lending process, which can credit low-tenure EMI loans within 30 minutes of disbursal time. With flexible repayment options tailored to individual needs, Rupee112 is furthering an inclusive financing solution accessible to individuals extending urgent financial support to individuals irrespective of their credit rating and without the need of any collaterals.
Founded in 2023, Rupee112 boasts of an in-house tech team dedicated to app development and a proprietary customer management system. Furthermore, the company leverages Multiple Account Aggregators for swift data analysis and CIBIL checks, ensuring efficient and secure loan processing. With the commitment to launching innovative loan programs and products to cater to the evolving customer demand, Rupee112 is developing lending products customized for specific objectives.
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