LENDING A HAND

In a recessive economy, a digital startup aims to bring creditors and borrowers together by removing the bank middlemen.

- Pancham Bhardwaj

The markets are abuzz with hushed mentions of an economic recession, as the earthquake in the shadow lending market is causing strong ripples through different industries across the country. The signs were visible for quite some time, yet the recent slowdown in the market still blindsided a lot of people, rapidly changing the financial status of thousands within the course of a few months. Amidst this chaos, an all-digital platform tries to bring simplicity and security to clients who are in desperate need of both. We are talking about Lendbox, a peer-to-peer crowdfunding platform that promises to directly connect lenders and borrowers, without any institutional interference. We found out more about this platform by speaking with Bhuvan Rastogi, co-founder & COO of the company, who we caught up with at a recent TedX event at Ansal University. He explained, how his post MBA stint in the Mumbai investment banking market led him to recognise the massive need for smaller sized loans. It was a conversation with a flatmate that led to the germination of an idea, which turned into a startup that has in the past 4 years spread to over 95 per cent cities and towns in the country.