Zype, the Mumbai based fintech has announced that it has disbursed a total of 100,000 loans and said that they are aiming at expanding their loan book size to 500 crores.
Mr. Yogi Sadana, founder, shared insights into the platform's growth and future plans, "Our next phase of growth aims to increase our reach and user acquisition while expanding our loan book size to 500 crores in the coming four quarters. We are committed to making credit more accessible to millennials and helping them develop sustainable financial habits."
He added that Zype's core mission is inspiring financial independence and ensuring transparency and responsibility in all customer interactions. He said that it takes less than 6 minutes to complete applications on the app and credit offers are generated in under 60 seconds, and loan transfers can be initiated instantly.
The platform received an endorsement early in its journey, raising its first investment round of $18 million from private equity firm Xponentia Capital and Vivek Vig, a BFSI sector veteran. With a growing user base.
With a track record of disbursing 100,000 loans, Zype is now aiming to continue its mission of increasing credit accessibility and promoting financial responsibility among millennials.