FinClub Secures Rs1.3 Billion in Loan Requests on Lending Platform

In a remarkable gathering orchestrated by FinClub, the Lender MeetUp convened around sixty investors under a resounding banner of growth and transparency. This participatory lending platform seized the occasion to unveil its financial performance, whilst illuminating its innovative strides and steadfast commitment to the real economy.

Establishing Credibility in Alternative Finance

Since its inception in September 2021, FinClub has firmly established itself as a credible player in the realm of alternative finance.

In a mere three years, it has transitioned from a fledgling start-up to a significant force in collaborative funding.

During the Lender MeetUp, Chief Executive Officer Sanjay Mungur meticulously reviewed the milestones achieved by the platform, which has thus far recorded over Rs 1.3 billion in loan requests.

Where once a loan approval took a daunting 35 days in 2021, this timeframe has now been dramatically slashed to a mere 1.5 days, a transformation made possible through the complete digitalisation of the process.

Encouraging Financial Performance

Nidhish Seedheeyan, the investor relations officer, presented an encouraging dashboard: over Rs 172 million lent in the first three months of the year, with an average loan hovering around Rs 300,000.

In terms of returns, more than Rs 8.6 million has already been disbursed to lenders, with potential annual returns reaching as high as 14%.

This financial performance is further bolstered by an inclusive vision.

“Investing with FinClub means enabling fellow Mauritians to progress while transparently growing one’s capital,” emphasised Seedheeyan.

Leveraging Commercial Partnerships

One of FinClub’s standout advantages lies in its network of commercial partners.

The Channel Partner programme allows businesses—be they solar equipment suppliers or retailers—to offer their clients direct access to financing through FinClub.

It is a win-win scenario: clients gain swift access to affordable loans, partners see an uptick in sales, and investors are presented with fresh opportunities.

Soon, this initiative will be enhanced by the launch of the Channel Partner Marketplace, a tool that will empower partners to structure and personalise their financing offers online.

This marks yet another step towards a decentralised, straightforward, and efficient financial landscape.

Diverse Loan Offerings

FinClub offers three categories of loans: personal loans for unforeseen expenses or project realisation; SME Loans aimed at small enterprises; and Green Loans designed to support ecological initiatives such as the purchase of electric vehicles or the installation of solar panels.

“Our mission is twofold: to provide rapid and accessible financing while generating a positive and measurable impact on both the economy and the environment,” explained Mungur.

Strengthening Investor Relations

The Lender MeetUp also served as a platform for direct exchanges between lenders and the executive team, a precious moment of listening and sharing.

“These events strengthen the trust between FinClub and its investors.

We put a face to a voice, gain a deeper understanding of the inner workings, and above all, we feel part of a collective project,” reflected Jonathan, an active investor on the platform.

Innovating with FinChat

In a groundbreaking move, FinClub has introduced FinChat, a new service enabling loan applications to be made entirely via WhatsApp.

The results of this service’s launch are striking: 227 applications in just one month, with some completed in under four minutes.

This pioneering initiative in Mauritius underscores FinClub’s determination to push the boundaries of traditional finance.

Source: Le Mauricien