CRED to Invest $10M in LiquiLoans
According to reports, a P2P payment platform LiquiLoans would receive a $10 million investment from credit card payment service company CRED. LiquiLoans would be estimated at $200 m as a result of the investment, and the two businesses would establish a strategic alliance, building on their current connection, according to a statement from CRED, which was cited by Inc42 on Friday (Sept. 16).
As per the statement from CRED Founder MR Kunal Shah, LiquiLoans has created credible financing products. In the peer-to-peer lending realm, It has emerged a leader with an efficient management team. It has helped expand financing availability, and this partnership, according to Shah, is bound to take CRED to another level of innovation and growth.
LiquiLoans organized pre-Series, the funding round back in 2019, which was also attended by Shah, in accordance to the reports.
LiquiLoans is a peer-to-peer lending platform that uses the network to connect borrowers & lenders while eradicating the nominal margin, which is usually charged by any traditional banks or NBFCs making the amount cheaper for the borrowers and thus drawing in more sponsors, as stated on the LiquiLoans website.
Speaking about their goals, LiquiLoans Co-Founder Achal Mittal says that it was to create a trustworthy lending platform. He stated that they have collaborated with businesses that share their objectives and will do so in the future. LiquiLoans’ long-term partnership with CRED and this investment in particular will propel the creation of seamless investment and borrowing opportunities.
In Oct 2021, CRED raised its worth to $4 bn by generating $251million in a funding round of Series E. According to a PYMNTS report, CRED offers an app that is a citizens club for Indians that not only rewards individuals for prompt credit bill payments but also provides them with an exclusive offer and seamless experience of using it.
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