Fin-Tech Startup; Loanwalle.com added another feather to its cap by expanding its operations in Punjab. Going ahead with its rapid expansion plan, the company invested INR 30 Cr in Punjab while focusing on key cities like Chandigarh, Ludhiana, Ambala, Jalandhar, and Amritsar.
Ranked 14th on the GDP index, 46% of the population in Punjab comprises serviced individuals. The city holds great significance for startups like Loanwalle.com as the company serves the short-term financial needs of serviced individuals.
Launched in 2018, Loanwalle.com was initiated with an objective of helping salaried individual with their emergency financial needs as the company’s founder Sachin Mittal came across various situations where people get stuck in a financial crunch and although they require small amount but the urgency of money is so immediate than waiting in long queues to get loan is not a fruitful option. Catering to this immediate need of finance is Loanwalle.com that ensures quick loan approval using its data-driven algorithms and advanced technology system like CIBIL analyzer, data in phone, text, social media connections to simplify loan application and fasten loan sanctioning.
Commenting on the growth prospects in Punjab, Sachin Mittal, Founder, Loanwalle.com said, “Continuing our expansion drive, we have entered Punjab with our offices across all major cities in the state like Chandigarh, Ludhiana, Ambala, Jalandhar and Amritsar to provide short-term emergency loans.”
Mittal further added, “We will be investing Rs. 30 Cr in the state over the next one year. Right from the onset, Punjab is showing great potential to be amongst the better states served by Loanwalle.com.”
Incorporated in the year 2018, Loanwalle.com already has offices in Delhi, Mumbai, Pune, Bangalore, Gujarat, Hyderabad, Chennai, Kolkata, Madhya Pradesh and Telangana at present and is speedily spreading its wings in the remaining parts of the country. The fin-tech start-up plans to grow by 200% by 2020 December.
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