New Delhi [India], Jan 9 (ANI
-BusinessWireIndia): Hyderabad based Fintech
firm- InstaEMI.com today announced to expand its operations to all metro cities New Delhi
in the country this month.
Specializing in credit underwriting and portfolio management, the company offers an online platform providing end-to-end financial services and after sales support. Apart from Hyderabad, presently the company operates in Bengaluru, Chennai, Tirupati and Kurnool. InstaEMI has partnered with 30 Banks and more than 40 Asset Management Companies to offer best of the products to its customers.
The company has launched its comprehensive mobile app which allows hassle free transactions to the investors and the borrowers alike. Borrower's Credit Underwriting process of the company is integrated with many external tools like Customers online bank account, social media, facial expressions, CIBIL and credit parameters for decision-making.
InstaEMI's investor platform enables the customers to buy, sell and switch mutual funds at no cost. A special algorithm based analytics tool automatically re-balances the Mutual Funds portfolio and protects the investor Capital Loss.
"Technology has brought in a new level of disruption in financial services today. Our technologically-sound platform gives us the instant decision capability to serve our clients on the spot. We have increased our bandwidth to serve more customers with the help of online, offline channels along with the newly launched mobile app. We are planning to raise USD 10 million to be injected in the business capital to help growing our asset portfolio in metro cities," said Chief Executive Officer InstaEMI.com, Hanu Yedluri.
InstaEMI has completed a loan disbursement of Rs. 60 crore till December 2016 and expects the total disbursement to cross Rs. 100 crore by end of the financial year 2016-17. The company has served 2000 customers in the current financial year. The large portion of its disbursement is covered by unsecured loans to salaried class and the self-employed.
Apart from unsecured loans, InstaEMI also offers advisory on Alternative Investment Fund, Mutual Funds and retirement plans. Peer-to-peer lending is another focus area of the company, though constituting a marginal size of the business with big ticket investments.
Loans on Wheels
InstaEMI has launched a customer outreach program called 'Loans on Wheels'. A branded vehicle equipped with online assessment facilities and two employees who will help customers in getting the instant decision on the eligibility of the loan. Loan eligibility of the customer will be informed within 15 minutes after carrying out verification of CIBIL score and financial history. Further, the online loan disbursal will be completed within two days of time. (ANI