Mumbai: LenDenClub appoints Nirmal K. Rewaria as Chief Business Officer – Investments

Mumbai, 5th January, 2023: LenDenClub, India’s largest Peer-to-Peer Lending platform, with its vision to drive financial inclusion, is building a formidable leadership team as it prepares for its next growth phase. To this effect, the RBI registered NBFC-P2P has made a key leadership appointment and hired Nirmal K. Rewaria as its Chief Business Officer – Investments. Nirmal brings over two decades of market-honed experience in driving organisational goals in diverse business functions, such as business development, sales & distribution domain.

At LenDenClub, Nirmal would be responsible for enhancing the channel partner network to help financial advisors provide alternative investment opportunities to allocate their clients’ assets. Additionally, he would also be responsible for expanding crucial partnerships across the distribution landscape to make LenDenClub’s P2P lending offerings more accessible.

Speaking on the appointment, Bhavin Patel, Co-founder & CEO, LenDenClub, said, “Peer-to-peer lending has emerged as a preferable alternate investment class for investors. With the soaring demand of high return instruments among Retail and HNI investors, we want to present investment in P2P lending as one more asset class to include in their portfolio. In the recent past, we have made certain strategic appointments, and Nirmal’s addition to the team solidifies our commitment and focus towards our intended exponential growth. Given his expertise in building a B2B channel for financial companies, Nirmal will not just help bring a fresh perspective to our core business strategies but will be a key driver in the growth of our Investments Business. I look forward to working closely with him and wish him all the best for the future.”

Nirmal has previously worked in some of India’s marquee firms, like Edelweiss, Axis Securities, and Standard Chartered Securities, across multiple geographies in Sales, Marketing & Distribution, and Channel Management. He is a B2B expert who has been instrumental for organisations in developing Channel Partners’ networks and creating business volumes. He owns a vast network ranging from manufacturers to investors through B2B channels across the industry.

Embarking on his new beginning, Nirmal K. Rewaria, CBO – Investments, said, “With LenDenClub’s cutting-edge product offerings, the company is well-positioned to capitalise on the momentum of new-age asset classes and accelerate the adoption of digital financial products. I’m happy to make a significant contribution to this journey and to support the organisation’s expansion goals. In the future, I want to contribute towards the country’s digital economy by leveraging my skills to provide a viable alternative investment and financing choice for Indians.”

With record disbursements, customer additions, top-line growth, profitability, and distinctive product offerings, LenDenClub has had outstanding operational performance in FY 22–23. The business has also developed a multi-pronged plan to speed up its growth by being the go-to platform for Peer-to-Peer lending for underserved investors and borrowers in the nation and helping them with their diverse financial goals.

About LenDenClub

LenDenClub is India’s largest Peer-to-Peer (P2P) Lending platform, owned and operated by Innofin Solutions Pvt. Ltd., an RBI-registered (NBFC-P2P). It provides an alternate investment opportunity to investors or lenders looking for high returns by connecting them with creditworthy borrowers looking for short-term loans. In the past three months, its flagship product, FMPP, has provided returns of more than 10% p.a. to 100% of the investors. The AI & ML-powered platform encourages investors to start investing in P2P lending with a minimum investment of Rs 10,000 and hyper-diversifies their funds to as low as ₹1 per borrower, leading to risk-mitigated and stable returns to investors.

Founded by Bhavin Patel and Dipesh Karki, LenDenClub has disbursed loans of over ₹10,000 crores and has an active investor base of over 20 lakh investors. In 2022, they also launched a corporate venture capital fund for early-stage Tech and FinTech startups, offering them acceleration through mentorship and access to capital.