Need an instant loan? These homegrown digital lending startups can help

The digital lending market is growing rapidly and Indian startups are cashing in! Here are some homegrown platforms can help when you need an instant loan.

If demonetisation helped India ‘accept’ digital payments, the COVID-19 pandemic further accelerated the growth of the segment. In fact, India is one of the fastest-growing fintech markets in the world.

An increase in internet penetration has led to the rapid adoption of new-age Banking, Finance Services and Insurance (BFSI) products, including digital lending services.

As the name suggests, digital lending involves an online approach to loan applications and the disbursal process. With the widespread usage of smartphones, credit range flexibility, and convenience in availing of loans, this market is growing at a fast pace.

According to MarketsandMarkets, the global digital lending market is expected to grow from $10.7 billion in 2021 to $20.5 billion by 2026 at a CAGR of 13.8 percent. 

Further, fintech startups in India are coming forward with innovative digital lending products to overcome the limitations of the traditional lending process, catering to the underserved sections of society, and helping with small-ticket loans in a seamless manner.  

Here are some instant money lending platforms that will help with urgent money requirements, with smooth, easy access.


MoneyTap was founded in 2015 by Bala Parthasarathy, Anuj Kacker, and Kunal Verma. The Bengaluru-based startup offers instant personal loans up to Rs 5 lakh with the entire KYC process taking place via its mobile app.

"We are a consumer lending company, so our customers need to know about us. Initially, it was difficult to explain the product — a credit line. They would constantly ask us why we couldn’t give them a one-time term loan. It took a while to explain the features and benefits of a personal line of credit and convince them that it is better as it addresses their need for borrowing small amounts. However, we had to run the risk of losing out valued customers just because they were not ready for our product," said Bala in an earlier conversation with YourStory.

In January 2020, the startup raised Rs 500 crore in an equity and debt round from Aquiline Technology Growth (ATG), RTP Global and Sequoia India, to accelerate its growth trajectory, invest further in technology, and data science.


Launched in 2015 by Gaurav Jalan, Kolkata-based mPokket is an instant loan app for college students. The primary sum offered is Rs 500, and the borrowing limit increases over time and can be reimbursed within 1 to 90 days. 

"We saw an opportunity to leverage the increasing penetration of smartphones to create an app. Through this app, tech savvy college students could easily and instantly borrow small amounts of money to meet urgent cash needs, " Gaurav earlier told YourStory.


Founded by Tushar Aggarwal in 2016, Stashfin offers an innovative credit line card in association with VISA, which allows users to access their loan facility with easy monthly payments and zero annual charges.

"We aim to fuel the aspirations of our customers through an easy and seamless credit-lending, digital model. In a short span, we have to increase our customer base several-fold. Our partnership with DMI Finance will further help us to accelerate our growth and increase our imprint across India. We look forward to creating a differentiated value proposition for our borrowers,” Tushar told YourStory in an earlier conversation.


Founded in 2018 by Jitin Bhasin, RupeeRedee is a Gurugram-based digital lending platform that allows consumers to access personal loans in a few minutes. 

The startup has approximately 4.51 million installs on the Google Play Store, and claims to have average traffic of 4,00,000 on its website.

"We started with a mission to make lending accessible to all parts of our country, offering small ticket-size loans to the majority, and through this, we are helping them build their credit score as well," Jitin told YourStory.

In October 2019, the startup raised $6 million from Digital Finance International for small-ticket consumer loans.


Founded in 2018 by Madhusudan Ekabaram, KreditBee is an instant personal loan platform for self-employed and salaried professionals who can apply for a personal loan starting from as less as Rs 1,000 to up to Rs 2 lakh.

The documentation required is minimal, and the entire process — from registration on the app to loan disbursement — takes 15 minutes, and the cash is immediately transferred to the user’s bank account. In June 2021, the startup raised Rs 60 crore from SIDBI’s India SME.

In an earlier conversation with YourStory, Madhusudan said, "We aspire to be the leading financial services platform offering banking products to the middle class of India."


Founded in 2015 by Krishnan Viswanathan and Karan Mehta, Kissht is a Mumbai-based digitally-enabled platform, operated by ONEMi Technology Solutions Private Limited, aimed at providing speedy and hassle-free credit financing to customers.

"Our aim at Kissht is to bring instant, hassle-free credit on the back of our self- learning, strong underwriting, and collection capabilities, paving the way for lower income and small-business owner segments," Krishnan said.

In January 2022, the startup raised Rs 100 crore in debt led by Trifecta Capital and Northern Arc to expand its scale of operations and enhance its offerings.


Founded in 2016 by V Raman Kumar, Yashoraj Tyagu, and Yogi Sadana, CASHe is a Mumbai-based digital lending platform for young salaried millennials. CASHe offers quick short-term personal loans starting from Rs 7,000 up to Rs 3,00,000 for a tenure of up to 1 year to young working professionals based on their social profile, merit, and earning potential.

"We wanted to challenge the status quo of the digital lending business in India, using technology to change the entire delivery system seamlessly. We looked at the prevailing credit business in India and abroad to create a unique business model," Yogi Sadana told YourStory in a previous conversation.

According to him, CASHe’s purpose is to provide India’s urban working millennials “with a path to better financial health, with the aid of technology through their smartphones”.

Edited by Saheli Sen Gupta


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