mPokket may opt for NBFC license
City based digital lending platform mPokket is aiming 10-15 times growth in lending in the current fiscal and does not rule out becoming an NBFC in near future.
mPokket is currently a student centric lending platform with a maximum loan exposure of Rs 2,000 per student at any point, and is now planning to tap those who are fresh in their jobs.
"We are now lending around Rs 40 crore per month on an average, registering a growth of 15 times since last year. Our business will jump another 10-15 times in FY'20," mPokket founder & CEO Gaurav Jalan told PTI.
The fintech startup is planning to expand its lending portfolio by the end of third quarter of the current fiscal to early stage job holders and building technology to support it.
"We do not rule out seeking an NBFC license as money is our key raw material and lending base in growing strong. Currently we are working with a partner NBFC and negotiating with another to support our current lending," Jalan said.
mPokket ...