Tuesday, October 15, 2019
SucSEED Backs i2iFunding Second Time, India's Leading Online NBFC - Peer to Peer (P2P) Lending Platform
  SocialTwist Tell-a-Friend  

HYDERABAD, India, June 25, 2019 /PRNewswire/ --

Happy with its performance, SucSEED Venture Partners backs its portfolio company RNVP Technology Private Limited second time. Known as i2iFunding, an RBI registered leading peer to peer lending platform in India, which verifies and matches borrowers looking for unsecured loans with interested lenders.

        (Logo: https://mma.prnewswire.com/media/894229/SucSEED_Logo.jpg )

i2iFunding provides affordable unsecured loans to borrowers such as people with no credit history, small businessmen, self-employed personnel, grade 4 government employees, newly employed salaried personnel, and many others who are not serviced by banks or NBFCs. i2iFunding has disbursed loans of value more than Rs. 36 crs and has crossed monthly disbursal of Rs. 4 crs. i2iFunding has raised more than $1 million so far.

Vaibhav Kumar Pandey, co-founder of i2iFunding, said, "Majority of India is still credit starved as it lacks traditional data which banks use to provide loan. As a result, these borrowers resort to expensive informal credit or have to disclose their requirements to friend/family for financial help. They end up in debt trap or get embarrassed or both. i2iFunding have now developed strong understanding of such borrowers and have come up with technology-based customized solutions to cater to each borrower segment using alternate data. We think that we have now reached the inflection point and are in position to replicate our solution on much larger scale by increasing our outreach."

"We are grateful for the immense confidence which SucSEED has shown in the business. From January 2018, when SucSEED had previously invested, i2iFunding has grown more than 8x. This round of funding led by SucSEED will help us to leap forward and cement our position as the leader in peer to peer lending space. We expect to achieve 5x growth over the next year and also become profitable on the back of our strong unit economics. We are also in discussions with marquee investors in fintech space to raise Series-A funds," added Vaibhav.

Ajay Kalhan, an active investor with SucSEED and who has been representing SucSEED on board of i2iFunding, said, "Looking at the performance of i2iFunding over last 18 months, our angel investors felt confident to do follow-on investment round with them. In fact, this is our largest investment in any startup and we are excited to back i2iFunding with our full support."

Vikrant Varshney, Co-founder & Managing Partner of SucSEED, said, "With Investments in Paymatrix, Insense, Stockal and i2iFunding, we have penetration in payments, card analytics, wealth management and P2P lending space in the fintech sector. This gives us unique opportunity to help fester collaborations amongst all fintech startups to create a unique value proposition for the financial sector."

About RNVP Technology Private Limited    


i2iFunding is India's leading NBFC-P2P and provides up to 10 lakhs of unsecured loans for both personal usage and business expansion purposes and these loans are funded by retail lenders registered on their platform. i2i's large focus segment is borrowers who have never taken loan previously from organized institutions, thereby supporting Indian Government's mission to increase financial inclusion.

Problem(s) being addressed:    

  • For Borrowers: Majority of India is credit starved as banks and NBFCs have limited focus and risk appetite to lend to customers such as people with no credit history, small businessmen, self-employed personnel, grade 4 government employees, newly employed salaried personnel, and many others. As a result, these borrowers resort to expensive informal credit or have to disclose their requirements to friend / family for financial help. They end up in debt trap or are embarrassed or both.
  • For Lenders: Mutual funds and fixed deposits remain the frontline investments products for retail customers in India. The returns are typically in 7%-12% range. In addition, timely redemption remains a challenge in mutual funds. There is no product which provides 15% - 20% stable returns.


  • i2iFunding provides unsecured loans up to Rs 10 Lakhs at affordable rates to these borrowers. i2i has built customized evaluation criteria for each customer segment by leveraging technology and hence, is able to provide loans at affordable interest rates.
  • The interest rate on loans provide attractive returns to lenders. Hence, i2i has been instrumental in developing a new asset class for Investors (Lenders in this case).

Market Potential in P2P Lending space in India:    

  • As per PWC report, estimated potential of P2P market in Indian is around $4-5 billion over the next 5 years. Various industry pundits peg the full potential to be upwards of $100 billion.

Details of 5 Co-founders:  

  • Vaibhav Pandey is an MBA from IIM Ahmedabad with 12+ years. At i2i, he leads automation and strategic tie-ups. His unique ability to understand the business risk of our partners and price their loans accordingly has helped i2i win accounts while competing with more established fintech companies in India.  
  • Raghavendra Singh is an MBA from IIM Calcutta with 12+ years of experience. At i2i, he leads product development, digital marketing and lender acquisition. He has been instrumental in ensuring that 100% of loans at i2i get quickly funded. i2i is also ahead of its peers in terms of trust among lenders.
  • Neha Aggarwal is an MBA from XIM Bhubaneshwar and leads credit at i2i. Her ability to understand and quantify risk associated with retail loans has helped i2i in keeping NPLs low while servicing the segment which is generally out of favour for formal lenders. She has been instrumental in developing rule-based credit evaluation to make the business scalable.
  • Abhinav Johary is an MBA from Amity Business School and has strong understanding of operations. He leads sales for blue collared salaried employees who are still to get online. He also leads collection and recovery functions at i2i.
  • Manisha Bansal is chartered accountant and has 9+ years of experience in finance and HR management. Leveraging her skills, she leads audit and recruitment.

About SucSEED Venture Partners    

SucSEED Venture Partners, founded in 2016, is one of the fastest growing Angel Network, with a combination of CXO level Corporate Professionals, Technology Angels, Business Leaders and Serial Entrepreneurs, who have come together to fuel the growth of Indian Startup System at early stage, with provision of growth capital, organizing access to market and Business mentoring. SucSEED's Investment Strategy is primarily targeted at Growth stage in post revenue startups involved in Innovation for Mass or Use cases with real problem statements using emerging Technology.

SucSEED has been investing in Fintech, Edtech, Real Estate Technology, HR Tech & Expert Network, Enterprise SAAS, Analytics space primarily, but also open to support in other areas with recent investments in Publishing & MediaTech and Automotive & IOT Space. SucSEED has earlier invested in OckyPocky, XploraBox, SRJNA and with recent investment in LetzConnect, SucSEED completes the lifecycle from K-12, STEAM to College for the Edtech Sector and beyond. With Investments in Paymatrix, Insense, Stockal and i2iFunding, they have penetration in payments, card analytics, wealth management and P2P lending space in fintech arena.

SucSEED facilitates and raises seed funding through angel investments and provide support towards venture capital to such entities and teams. SucSEED network comprises of professionals and entrepreneurs who extensively mentor the investee startups. The investors are senior industry leaders with extensive domain knowledge and peer networks, assist in creating a structure to support startups and further enhance the ecosystems. Startups will get to leverage the expertise of individual investors who are part of initiative and share their expertise in Sales & Marketing, Finance, Systems and Technology, Risk, Legal & Compliance, Human Resources & training.

Contact: For further information on SucSEED or on this Investment, please contact:
Content Team of SucSEED Venture Partners, Hyderabad.
E-mail: Info@SucSEED.biz
LinkedIn, Twitter, Facebook

Contact: For further information on i2iFunding, please contact:
Raghavendra Pratap Singh, Co-founder, i2iFunding
Email - raghavendra@i2ifunding.com
Mobile: +91-89291-98001
Linkedin, Twitter, Facebook


More News by PR Newswire India

Europe's Most Trusted Crypto And Precious Metal Companies Partner To Create Gold Token Secured By Bitcoin Network

RGE Commits US$200 Million to Next-Generation Textile Fibre Innovation and Technology

Medisanté Earns Acclaim from Frost & Sullivan for Ensuring Better Care Outcomes while Reducing Costs

INSIDE INFORMATION: BW LPG Contemplated Sale of Shares

School House Crafts Multi-Sensory Journey of Discovery and Re-collection for La Mer Campaign Exhibition

Vevue Partners with CBX Exchange for Initial Auction Offering

Frost & Sullivan Recognizes Pepco Holdings and Carlsbad Municipal Water District with Excellence in Resourcefulness Awards at Itron Utility Week

His Holiness The Dalai Lama Awarded Honorary Doctorate by Chitkara University

Surplus Keslow Cinematography Gear Up For Auction

Libyan Investment Authority Loses Claim in the UK Court of Appeal - London

Artificial Intelligence for Risk Management Process by MovingNow

Maruti Suzuki Arena Devils Circuit Season 2019-20 Draws Over 6K Runners in Hyderabad

Quectel Achieves Industry's First 5G Data Call over 5G mmWave Module

Artprice by Artmarket: The Gagosian's Grand Projects for the Late Simon Hantaï (1922-2008)

Ryan International Group of Schools Receive India's Most Respected Brand Award 2019

JD Institute Of Fashion Technology, South Announced its New Domain

VeChain Is Leading Co-sponsor of GDST Seafood Trackathons

The World's Largest Automakers, Along with MOBI, Announce a Joint Proof of Concept for the First Vehicle Identity on Blockchain

Indiannica Learning Announces the Launch of Indiannica Quiz League

Third Annual Convocation Ceremony Will be Celebrated in Apex Professional University

An Encounter of Two Icons: Tic Tac® Meets Coca-Cola®

Birlasoft to Accelerate Invacare's Business Transformation Journey Signs US$ 240 mn, Multi-year Deal, to Provide Complete IT-as-a-Service (ITaaS)

Bali Zoo Celebrated Tumpek Kandang Ritual for all its Resident Faunas

Nitin Mantri Becomes ICCO President

DMCC Awarded 'Global Free Zone of the Year' for a Record Fifth Consecutive Year

Apex Professional University Signed MoU with Life Science Sector Skill Development Council

Find TVU Networks at Broadcast India 2019

UAE and UNESCO Renew Partnership, Extending Efforts to Restore Historic Churches in Mosul

Over 70,000 Visitors, SR2m Falcon Sales on First Day of Riyadh Exhibition

The First Huion Tablet of Inspiroy Dial Series, Q620M was Unveiled at Hong Kong Electronics Fair

ZEISS showcases next-level eye care digitalization at AAO 2019

On Your Marks: 2019 Xi'an Yango International Marathon Starts 20 October

Autodesk Fusion 360 Tools Enable Social Hardware to Advance Design of Prosthetics

Bionik Gold Knee- A New Lease of Life for Young Arthritis Patients

Joy Forum19 to boost Saudi entertainment sector

SC to hear CBI plea against Delhi HC's C...
5 Punjab cops in jail for militancy-era ...
BJP raising NRC issue in Delhi to divert...
'Overjoyed' Mamata congratulates Banerje...
Provide security to Sunni Waqf Board chi...
Tamil politician booked for justifying R...
 Top Stories
Mexico: 14 policeman killed after b... 
Trump authorises US Treasury, State... 
Sehrawat leads fightback as Bulls b... 
Techie jumps to death from apartmen... 
Staff strike for wage revision grou... 
UP: Unborn baby dies, kin alleges m... 
Rahul Gandhi is a captain who walke... 
Delhi traffic police to withdraw 1....