RevFin Gets RBI Approval To Acquire NBFC
For RevFin, this acquisition is a step forward towards helping people fulfills their dreams and aspirations by providing them access to credit
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Delhi-based digital lending startup, RevFin has received RBI's (Reserve Bank of India) approval to acquire Aristo Securities Private, a non-banking financial company (NBFC).
For RevFin, this acquisition is a step forward towards helping people fulfills their dreams and aspirations by providing them access to credit. The company underwrites and disburses loans digitally through Android and iOS Apps.
Sameer Aggarwal, Founder, RevFin said, “We are looking for further growth in the digital space and Reserve Bank of India will help us to build and grow our own balance Sheet."
“Our platform provides instant loans digitally to those in need. Our unique and innovative approach to underwriting is contributing towards making India truly a financially inclusive nation.” Sameer further added.
The company has already started its lending operations in some cities of India, focussing on citizens of tier 2 and tier 3 cities. The company is looking to target a monthly loan disbursal rate of Rs 2 crore in the next 6 months to build a lending book of Rs 500 crore in the next 5 years through market expansion across India. The startup also plans to expand globally over time.