Thu, Jul 27, 2017 | updated 08:32 AM IST

Square Yards forays into fintech with mortgage arm Square Capital

Updated: Jul 26, 2016 15:51 IST      
Square Yards forays into fintech with mortgage arm Square Capital

New Delhi, July 26 (ANI): India's largest real estate transaction platform Square Yards announced its aggressive investing in technology for its mortgage advisory platform-Square Capital with an aim to become the largest online to offline (O2O) loan aggregator in India.

Square Capital was started more than a year ago to capture the captive home loan business originating from Square Yards' real estate transactions but it soon expanded itself to get external independent business and steadily grew to be one of the largest distributor for mortgage industry in India.

It has facilitated disbursement of loans worth Rs. 1550 crore through its tie-ups with more than 45 banking partners.

Now the company is scaling up this business through the use of technology and has introduced a number of new innovations to integrate the end to end value chain in the loan segment. It also announced the launch of its new portal squarecapital.co.in that aims to take the entire loan borrowing process online starting form lead origination, credit evaluation, helping customers choose the right product from the appropriate lending organization, getting online KYC and documentation, application login, sanctions and right through loan disbursal.

"Square Capital has been one of the fastest growing and the most profitable business for Square Yards and we want to replicate our success in real estate to the fintech industry with an aim to become largest online to offline (O2O) loan aggregator and facilitator in India," said Founder and CEO Square Yards, Tanuj Shori.

"We will be soon adding all categories of loans and financial products to our portfolio. We are also significantly ramping up our connector network to increase distribution reach to a larger base of customers. We aim to be the leader in all segments of the value chain - online and assisted online, direct business advisory and connector loan syndication business," said Principal Partner and Business Head Square Capital, Indrajit Sidhanta.

The company differentiates itself by focusing the on disbursement model rather than a mere lead generation model and it is in process of integrating its systems with those of banks' backend systems in order to reduce the turnaround time for the customers while lowering the cost of customer acquisition for financial institutions.

The online and offline component of the fulfillment varies with the level of integration with bank for each category of loan.

The fintech sector is rising rapidly worldwide, and India is emerging as a hub for fintech startups. It has also seen a lot of interest from investors and venture capital funds which have pumped in huge amounts of money in this sector.

The number of fintech startups funded in the first half of 2016 equals the total number of startups funded in the sector in 2015. Even the Indian government with its Start up India program has given a push to this sector which is poised to grow exponentially well in future. (ANI)

139 top posts lying vacant in various CPSEs: Supriyo

Updated: Jul 26, 2017 20:23 IST     

New Delhi [India], July 26 (ANI): Candidates from Public Sector Banks as well as Private Sector Banks having at least 15 years of mainstream banking experience of which one year at board level within the age group of 45-57 years are eligible to apply for the post.

Full Story >>

Govt. identifies 400 Benami transactions

Updated: Jul 26, 2017 19:44 IST     

New Delhi [India], July 26 (ANI): More than 400 Benami transactions have been identified since the Benami Act has come into effect, informed Minister of State for Finance Santosh Kumar Gangwar in a written reply to a question in Rajya Sabha on Tuesday.

Full Story >>

Datsun India launches more powerful redi-GO 1.0L

Updated: Jul 26, 2017 19:08 IST     

New Delhi [India], July 26 (ANI): Datsun India on Wednesday launched the highly-anticipated Datsun redi-GO 1.0L at Rs. 3, 57,333 with iSAT engine, which features more power, style and convenience for customers.

Full Story >>

New Delhi [India], July 26 (ANI-BusinessWireindia): Tata Capital through its skill development initiative 'ProAspire' - has successfully trained and placed over 3,000 underprivileged students across the country.

Full Story >>

DJUBO partners with i2e1 to make wi-fi management easy

Updated: Jul 26, 2017 18:09 IST     

New Delhi [India], July 26 (ANI): DJUBO, a SAAS platform for hotels launched another initiative in partnership with i2e1, a Wi-Fi management platform - the DJUBO MarketPlace, which is a curated selection of products and services integrated with DJUBO.

Full Story >>

GST reduces logistical costs; benefits transport sector

Updated: Jul 26, 2017 17:35 IST     

New Delhi [India], July 26 (ANI): The Goods and Services Tax (GST) has highly benefitted the transport sector by removal of inter-state check posts, optimizing the warehouse structure and bringing down logistical costs.

Full Story >>

New Delhi [India], July 26 (ANI): At USD 10.11 billion during Q1FY2018, inflows from foreign institutional investors (FIIs) to the debt market were the highest in any quarter during the last decade.

Full Story >>

New Delhi [India], July 26 (ANI-NewsVoir): Patriotic film Yeh Hai India has been making buzz for the last few months, especially after the launch of its motion poster. The movie has now been selected an official entry to the esteemed FOG film Festival. Following this, Yeh Hai India will be releasing in US on August 11, 2017. In line with this, the new India release date of the movie is August 18.

Full Story >>

New Delhi [India], July 26 (ANI-NewsVoir): SRM University, Chennai and SRM University AP - Amaravati have entered into a strategic partnership with the College of Engineering, UC Berkeley, through global partnerships with the Dado and Maria Banatao Centre for Global Education and Outreach from Berkeley Engineering (GLOBE), the Sutardja Center for Entrepreneurship and Technology [SCET] and the Jacobs Institute for Design Innovation.

Full Story >>

Remove barriers to PPP: FICCI-EY study

Updated: Jul 26, 2017 16:44 IST     

New Delhi [India], July 26 (ANI): A FICCI-EY study released at the inaugural session of the India PPP Summit, organised by FICCI in association with the International Chamber of Commerce (ICC) India, made recommendations asking for interventions to remove the barriers to purchasing power parity (PPP) and accelerate the implementation of its projects.

Full Story >>

New Delhi [India], July 26 (ANI): Paytm Mall, owned by Paytm Ecommerce Pvt Ltd delisted 50 percent of its logistic partners stopping deliveries to more than 9,000 pincodes out of 26,000 where guaranteed assistance in returns and replacements was not assured assuring superior consumer experience for all its clients.

Full Story >>

New Delhi [India], July 26 (ANI): After sacking at least 20 employees on Wednesday which resulted in a clash between security guards and employees at Vivo's assembling unit in Greater Noida, the phone maker has now alleged that the layoffs are in line with their business decisions and interests.

Full Story >>

Tata Motors launches commercial vehicle range in Philippines

Updated: Jul 26, 2017 14:47 IST     

Manila [Philippines], July 26 (ANI): Tata Motors on Wednesday announced the launch of its commercial vehicles range in Philippines to further penetrate the market through a distribution agreement with local partners Pilipinas Taj Autogroup, Inc., a business conglomerate engaged in the local distribution of motor vehicles.

Full Story >>

New Delhi [India], July 26 (ANI): Adding to the high-quality healthcare services it offers, DocsApp, a chat based healthcare platform that connects patients to specialist doctors in less than 30 minutes, has launched yet another noteworthy service targeted towards infants, children, and adolescents.

Full Story >>

Faircent.com launches fully-automated 'Auto Invest' feature

Updated: Jul 26, 2017 14:24 IST     

New Delhi [India], July 26 (ANI): In a pioneering development for the country's fintech sector, Faircent.com, India's largest peer-to-peer lending platform has launched a new Auto Invest feature for registered lenders.

Full Story >>

Kia Motors Tours India to meet prospective dealer partners

Updated: Jul 26, 2017 13:54 IST     

New Delhi [India], July 26 (ANI-NewsVoir): Kia Motors is hosting a series of road shows around India to meet prospective dealer partners throughout August and September. The Korean car manufacturer is due to commence local retail sales during the second half of 2019.

Full Story >>

Mumbai [India], July 26 (ANI-Businesswire India): Pidilite Industries Limited, India's leading manufacturer of adhesives, sealants and construction chemicals today announced its financial results for the quarter ended June 30, 2017.

Full Story >>

New Delhi [India], July 25 (ANI-Newsvoir): AXELOS, announces the launch of PRINCE2® 2017, the latest version of world's most widely used Project Management Methodology in India.

Full Story >>

New Delhi [India], July 25 (ANI-BusinessWireIndia): L&T Technology Services Limited (LTTS) has announced its results for the first quarter ended June 30, 2017. The company's quarterly revenue rose 6.3 percent Year-on-Year to USD 128 million, on the back of successful project executions and new orders.

Full Story >>

New Delhi [India], July 25 (ANI): Reacting at the Union Cabinet move to push electric mobility in the country, Society of Manufacturers of Electric Vehicles (SMEV), Director- Corporate Affairs Sohinder Gill said that the government should immediately kick start the mass adoption of EVs in the country.

Full Story >>