# Innofin Solutions Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/innofin-solutions-pvt

- Industry: Financial Services
- Headquarters: Mumbai, India
- Website: www.lendenclub.com
- Total disclosed funding: $11M
- Latest round: Series A (Dec 7, 2021)
- Investors on record: 4

## About

Innofin Solutions Pvt. Ltd. operates as a peer-to-peer lending platform, connecting individual borrowers directly with lenders, thereby facilitating alternative financing solutions that bypass traditional financial institutions.Founded in 2014 in Mumbai, India, Innofin Solutions Pvt. Ltd. functions through its platform LenDenClub, focusing on enabling personal and business loans. The company raised USD 10.00 mn in Series A funding in December 2021, co-led by investors Artha Venture Partners, Ohm Stock Broker Pvt. Ltd., and Tuscan Ventures. The firm has completed 7 deals to date, achieving a current valuation of USD 51.00 mn.LenDenClub provides a digital platform for peer-to-peer lending, allowing users to lend to borrowers ranging from individuals seeking personal loans to businesses requiring capital. The platform emphasizes financial inclusion by enabling investments starting at ?25,000 and ensures security through KYC processes and risk assessments for borrowers. Serving over 2 crore registered users, it diversifies lender investments while optimizing the lending experience through a capital matching algorithm.In the most recent fiscal year of 2023, LenDenClub generated revenue of USD 37,923,305.30, with an EBITDA of USD 455,548.50. The company's revenue model is based on transaction fees from lending activities, where a percentage of the interest earned on loans is retained as a fee for facilitating transactions, compliant with regulations by the Reserve Bank of India.With the recent Series A funding round completed in December 2021, Innofin Solutions Pvt. Ltd. plans to utilize the USD 10.00 mn raised for expansion initiatives. The company aims to introduce new financial products and expand into new markets, focusing on geographic regions that enhance its user base and lending capabilities.

## Funding rounds

- Series A, Dec 7, 2021, $10M — Tuscan Ventures, Artha Venture Partners, Ohm Stock Broker Pvt. Ltd.
- Seed, Apr 12, 2019 — Venture Catalysts
- Seed, Nov 30, 2017, $0.5M — Venture Catalysts, Artha Venture Partners
- Seed, Apr 11, 2016 — Venture Catalysts

## Investors

- Venture Catalysts (https://capitalatlas.ai/funds/venture-catalysts) — Seed
- Artha Venture Partners (https://capitalatlas.ai/funds/artha-venture-partners) — Seed, Series A
- Tuscan Ventures (https://capitalatlas.ai/funds/tuscan-ventures) — Series A
- Ohm Stock Broker Pvt. Ltd. — Series A