City startup launches alternative lending platform
Hyderabad: An alternative lending platform Oxyloans, a revolutionary financial technology platform was launched here on Wednesday. Radhakrishna Thatavarti, Founder & CEO of Hyderabad-based Financial Technology Startup SRS Fin Tech Labs Pvt. Ltd, said Oxyloan connects borrowers and lenders online. It is a Peer-to-Peer Lending (P2PL) and Peer-to-Peer Investing (P2PI) platform.
It provides lenders and investors an opportunity to maximize their earning potential, while borrowers get loans more quickly, as compared to the traditional banking method. With this platform, borrowers can now connect directly with multiple lenders. Borrowers and lenders can have complete control over transactions. Peer-to-peer lending removes the middleman from the process.
“We have invested Rs 100 lakhs and looking forward to raise another 200 lakhs as part of seed capital. Once we achieve Rs. 300 lakh target of seed capital, we will raise $20 million to build a platform that enables $1 billion disbursement by 2024, said Radhakrishna.
“A key feature of OxyLoans is enabling borrowers to negotiate directly with lenders, allowing them to agree on an interest rate, tenure, and repayment cycle that suit them. The services are open to citizens of India, Gulf countries, and the UK. We facilitate conventional and Islamic loans. We facilitate loans in India, Gulf States, and the UK. NRIs are invited to lend in India”, Radhakrishna said. For more details about the platform, one can visit www.oxyloans.com.