Bengaluru based online lending platform KountMoney has raised an undisclosed seed funding from banking professional Ashish Goenka and other Angels, through TracxnSyndicate.
Kountmoney’s web-based platform offers users with an online lending platform for personal loans, and aims to make lending simpler for both borrowers and lenders.
For Borrowers, the company provides a solution to find personal loans suited for their needs and profile. On the other hand, lenders can use the platform to make the loan disbursement process smoother, thereby reducing the overall costs, in terms of infrastructure, manpower, and technology, involved per transaction. Lending institutions can also use its data science capabilities for risk analysis of borrowers.
The company was founded in October 2015 by Abhishek Periwal, Deepak Modak and Abhi Ranjan, and has processed over 150 loan applications so far. In India it is competing with the likes of Faircent who are also still gradually emerging in the country.