Venture garage on Saturday announced that its portfolio startup “Lendbox, a peer-to-peer lending platform, has secured Rs 6 crore in a pre-A series round funding from IvyCap Ventures.”
Lendbox is one of the fastest growing lending platforms in India, which allow Retail Investors on Lendbox to invest between Rs 25,000 to Rs 10 Lacs (approx 1 million) and borrowers to take credit between Rs 25,000 to Rs 5 lacs (nearly to 0.5 million) from Lendbox.
IvyCap Ventures founder Vikram Gupta said that “We have confidence in the peer-to-peer lending marketplace and also see the small but significant step in the P2P lending space, especially after the recent RBI guidelines.”
Talking about the Lendbox, Venture Garage founding team, Vivek Kumar and Vineet Sagar, said that “It was indeed fun advising the team. Our goal with startups is to enable the founding team to raise capital from our investor network. We are glad we were able to help Lendbox get funded. We see Lendbox as the No.1 player in this space in the next three years”.