As 2019 drew to a close, it was an opportune time to pause and reflect. For the technology enabled lending sector, it is even more significant since about a decade ago, around 2008-2009, is when this medium started gaining popularity. There was a general disenchantment about how the traditional sources of financing had worked out and people were craving for a change. Today, it has become a norm.
In India, the tech enabled lending space or fintech, is not as old, but has seen dramatic grthe tech enabled lending space or fintech, is not as old, but has seen dramatic growth and scale. When we started Faircent, the early days were spent in educating people about the concept of peer to peer lending. When it came to banks, they were still in the early days of providing services through online banking. Even the hugely popular Paytm had started its operations, albeit in a completely different avatar of being a recharge platform for prepaid mobile and DTH recharge.