2019-01-22

Matrix Partners India invests in LiquiLoans

Mumbai, January 22nd, 2019: Matrix Partners India announced today that it has invested in LiquiLoans, a Mumbai based Peer to Peer Lending platform. The round also saw participation from Kunal Shah (Founder, Cred & Freecharge), Ashutosh Taparia, (previously Jt. MD Famy Care), Abhishek Dalmia (Chairman, Renaissance Group), Jitendra Punjabi (ex-Capital Group) and Anuj Golecha (Co-founder, Venture Catalyst).

Founded by Gautam Adukia and Achal Mittal in April 2018, LiquiLoans provides individual investors with access to retail borrowers through a technology platform thereby making investing and borrowing more accessible and efficient. Peer to Peer Lending is a nascent industry in India and LiquiLoans is one of the few players to have received the P2P-NBFC license from the RBI.

Gautam Adukia, Co-founder of LiquiLoans said, “With our mission of creating a new safe debt asset class to enable millions of investors to diversify and increase the financial return on their portfolio, we at LiquiLoans are committed to identifying and providing investors with access to the highest quality borrowers. Using a combination of channels to access prime borrowers and using advanced risk assessment models to underwrite these borrowers, we are confident in our ability to deliver a higher return.”

“We understand the core needs of the borrower to be interest rate and convenience. Given the technology platform’s ability to directly connect borrowers and lenders we are able to provide consumers with loans cheaper and faster than existing alternatives. The customer is at the core of our platform design and we are focused on delivering a quick and seamless experience for their loan requirements,” said Achal Mittal, Co-founder of LiquiLoans.

Avnish Bajaj, Founder and Managing Director, Matrix India commented, “Peer to Peer Lending is an emerging sector in India and we believe it will play an integral role in shaping the Indian consumer credit market in the near term. We are excited with Gautam and Achal’s vision for the P2P industry in India and privileged to partner with them on this journey.”

About the founders:

Gautam and Achal previously co-founded Rentomojo, a successful furniture leasing platform. Gautam has an MBA from IIM Calcutta and has also previously worked with IIFL wealth management. Achal has an MBA from NMIMS Mumbai and has previously worked with ICICI Corporate Banking.

About LiquiLoans:

LiquiLoans is founded by Gautam Adukia and Achal Mittal with a vision to provide individual retail investors direct access through a cutting-edge technology platform to millions of retail borrowers and in doing so build a robust consumer lending platform. More information about LiquiLoans can be found at: www.liquiloans.com  

About Matrix Partners India:

Matrix Partners India is an investment firm with approximately $1 billion under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several market leading companies such as Ola (local transportation), Quikr (online classifieds), Practo (digital health platform), Dailyhunt (mobile local language platform), Treebo (digital hotel chain), Limeroad (social e-commerce platform), Mswipe (mobile POS), Five Star Business Finance (SME lending), OfBusiness (credit led B2B marketplace), Vogo (scooter sharing) and Cloudnine Hospitals (leading chain of maternity hospitals), among others. Matrix India has advisory offices in Bangalore, Delhi and Mumbai. Matrix Partners has a global network of funds investing in the US, China and India. Further information is available at www.matrixpartners.in