Startup permits mobile-based personal loans

PANAJI: Faircent.com, a peer to peer lending platform catering to retail and business loans, launched a mobile application for lenders, allowing people to lend money on the go. Peer to peer lending, which is still at its budding phase in India, is already a prospering industry in the developed markets such US, UK and China giving stiff competition to banks and traditional lenders. In US market alone, the industry is valued over $20 billion and expected to grow to $150 billion by 2025.

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