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Top 5 Digital lenders offering personal loans in India

The year 2020 witnessed significant advancements in the fintech sector. A major reflection of the same can been observed in digital lending segment. The fintech firms have leveraged their technological capabilities towards facilitating financial inclusion to the underserved customers. This involved enhanced utility of analytics and digitalization, to first broaden the reach of their services followed by rendering the processes involved in credit access quick and convenient. Here are five fintech companies which have created significant impact in the digital lending space:


KreditBee, a Bangalore-based FinTech platform offers instant personal loans to professionals where they can avail loans up to INR 200,000 as per their requirement. With a strong focus on online tech-based and data-centric KYC, KreditBee envisions to solve the financial inclusion gap in the varied demographic segments of India.

The KreditBee platform is backed by a Systemically Important NBFC Krazybee Services Private Limited, registered with Reserve Bank of India (RBI) since May 2017, as well as debt and platform partners. KreditBee is a brand of Finnovation Tech Solutions Pvt Ltd, funded by VC firms and investment entities like ICICI Bank, Alpine Ventures and Arkam Ventures, among others. Also, it has various debt partners like AU Small Finance Bank, HSBC, Fullerton, and IIFL. Currently, it has 5 million loan customers, out of which over 2 million are active loan customers.

KreditBee, with its effective technological integration, has reduced the documentation to bare minimum and brought down the turnaround time significantly. A customer opting for credit access takes not more than 15 minutes to complete the documentation process starting from registration on KreditBee’s app to loan disbursement. The application process is completely online and upon approval, the cash is immediately transferred to the bank account of the user.


Kissht is an EMI payment and digital lending platform. With a variety of EMI payment options, Mumbai-based Kissht aims at empowering online as well as offline Merchant stores and online e-commerce platforms to provide secure and quick EMI to customers who wish to purchase Mobiles, Laptops, Cameras, Furniture’s, AC, Watches, Home & Kitchen Appliances, travel, health and education services and many more through easy EMI instalments.

Through the use of alternate data and proprietary algorithms, our unique EMI payment gateway makes aspiration affordable to new to credit and lower-income segments. Kissht offers a hassle-free experience of shopping online as well as offline Merchant stores by providing quick and Easy EMI at Point of Sale.

The company’s EMI Payments Gateway integration uses super simple APIs to go live instantly. With a wide range of products across various categories and convenient, get set to enjoy a simple, stress-free, and smart online as well as offline shopping experience with Kissht. We also provide personal loans to customers via our financial technology platform. Kissht was founded in 2015 by IIT graduates and former McKinsey consultants who have extensively served financial services firms.


Founded by Akshay Mehrotra and Ashish Goyal, EarlySalary is a mobile app that allows salaried individuals to avail of financial assistance. The company offers a bouquet of products tailored to the need of young India including salary advancesinstant loans, interest-free EMI options and a line of credit to shop.

The Pune-based company conducts a prudent risk assessment by leveraging machine learning to go beyond financial underwriting.

EarlySalary earlier raised INR 1 billion in January 2018 led by Eight Roads Ventures (Fidelity). With more than 10 Million Downloads and loans, EarlySalary is helping customers borrow within minutes. EarlySalary has fast become the first line of credit for young working professionals in India.


CASHe is one of India’s leading digital lending platform for young salaried millennials. CASHe provides instant short-term personal loans ranging from Rs 7,000 to Rs 3 lakh for a tenure up to 1 year to young working professionals based on their social profile, merit and earning potential using its proprietary algorithm-based machine learning platform. With over 13.5 million app downloads and an active customer base of over 1.6 million, CASHe provides almost instantaneous loans on-demand through its user-friendly digital interface which enables faster loan application process and quicker loan disbursals.

Powered by its industry-first proprietary algorithm-driven credit scoring platform, Social Loan Quotient (SLQ), CASHe quickly determines a user’s credit worthiness by using multiple unique data points to arrive at a distinct credit profile of the customer. CASHe is completely automated and requires no personal intervention and no physical documentation. The average time taken for a loan to be disbursed is about 10 minutes, subject to proper submission of all documents. CASHe’s target audience is young working professionals in the age group of 22-38 years.


LoanTap Financial Technologies is an online platform committed to deliver customized loan products to millennials. The company was established in the year 2016 with an aim to provide seamless consumer experience from application to disbursal. 

LoanTap uses advanced technologies to design flexible loan products that are best suited to the customers’ needs. LoanTap is present across 20+ cities like Delhi, Bangalore, Hyderabad, Pune, Mumbai, Chennai, Kolkata, Noida, Vadodara, Nasik, etc.

Being at the forefront in the digital lending segment, these five companies jointly work towards an overlapping goal of promoting financial inclusion. In their attempt to boost its advancement, leaders of these fintech companies have instituted a not-for-profit organisation, FinTech Association for Consumer Empowerment (FACE). The association strives towards consistently engaging, communicating, and seeking consumer feedback on various aspects of digital lending to introduce pertinent credit products to the people, who are either deprived or underserved by traditional financial institutions.

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