Siply claims zero NPA, disburses loans of over ₹125 crore

Business


Siply, a tech-enabled micro-savings platform said it has crossed ₹125 crore in loan disbursals so far in eight months. 

“Over the past 8 months, Siply’s loan book has grown by 150% month on month. The user base has grown by 24 times and revenue by 40 times. Over one lakh people have taken loans with Siply reporting a 0% NPA(non-performing assets) rate so far,” the firm said in a statement.

“Our fast growth clearly indicates that there is huge pent-up demand in the market for micro-credit,” said Sousthav Chakrabarty, CEO and co-founder, Siply. 

“We believe that the right tech solution for people using low-tech smartphones can make a huge difference to middle-class Indians who wish to access credit. Micro-savings and micro-credit are the next big things that will lead to financial wellness and inclusion.”



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