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Published On : Thu, Jan 25th, 2018

Paisalo launches new app for cashless disbursal, repayment

Sunil Agarwal, MD of PAISALO Digital Limited


Chennai/ Nagpur: Paisalo Digital Limited, formerly known as S E Investments Limited has launched their app with the same name to accelerate and facilitate 100% digital loan disbursal, creating unique customer experience. Introducing a complete digital experience, especially for traditional small entrepreneurs, the loan ticket is designed at Rs. 10,000 to Rs. 50,000. The loan repayment tenure is 1,3,6,12,18 and 24 months. The company expects to disburse 30,000 loan applications in FY19 through the Paisalo app itself.

The company has a loan book of over Rs. 1,262 crores with a net worth of Rs. 553 crores and a CAR of 38.08% as of FY17. It has nearly 90,000 live borrowers and a total customer base of over 7 lakh borrowers. Other than the 49 branches, the company serves customers at 300 small locations, serviced by a field staff of over 700 people. With business operations in Uttar Pradesh, Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, Delhi and Haryana. The company has also created over 22600 Self Help Groups (SHGs) in both urban and rural areas. The company enjoys basel rating by India Ratings (Fitch) as ‘A-‘.

The Paisalo app (Available on Google and Apple Store — Links to download) has been built to provide easy loans that are accessible to individuals in need of immediate loans. Completely designed in-house, the app enables an individual to borrow money up to Rs. 50,000 using their mobile without any human interference. A customer contact centre will further amplify the user experience, by addressing any need for assistance. By leveraging technology and harnessing the power of machine learning the company aims to adopt 100% end-to-end mobility for the entire spectrum of operations in areas such as loan origination, loan management, and repayments.

Commenting on the initiative, Sunil Agarwal, Managing Director at Paisalo Digital Limited said, “The Paisalo app intends to enable customers to reach us with ease and ensuring smooth loan disbursal and repayment.”

Adding to the conversation, Shantanu Agarwal, Chief Innovation Officer says, “We at Paisalo, acknowledge the constructive disruption technology has brought in the lending space and we are committed to leveraging it so as to reach maximum end users with minimum cost, a benefit that we can pass on to them.”

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