New Delhi(India), April 17: My Mudra, a fintech quenching the financial thirst of people for decades, is planning to raise the pre-Series A round in this financial year. My Mudra has welcomed this new financial year with the decision to raise an undisclosed amount of funding. The Delhi-based bootstrap fintech organization has built in 2013, and it has been a helping hand to lakhs of people who need financial services. The organization is trying to alter the mindset of people who think that taking financial aid is a burden on their shoulders by changing it to a planned decision and road to fulfilling their dreams.
Founder and CEO Mr. Vaibhav Kulsreshtha has revealed that ‘The funding received will be utilized in strengthening the roots of technology in the organization and in adding more financial products’. He further added that he is nurturing My Mudra like his kid to bring optimistic change to the financial services domain. The company has been dealing with the products like business loans (secured and unsecured), corporate funding, unsecured working capital, professional loans for CA, CS, doctors, and architects, and secured loans. Financial services is a crucial domain that will represent linear growth if the company is ready to bring a solution to the financial crunch faced by people. So far, the organization has disbursed loans of more than Rs. 10000 crores through the association with more than 90+ banking partners, including top banks like HDFC, Axis, Bajaj Finserv, Kotak Mahindra, etc. The clock demands making people financially stable, and My Mudra is taking steps to make it possible.
The company has left its footprint in most parts of the country with more than 140 branches and the team strength exceeding 500 people who are ready to go the extra mile to achieve targets. The head office of the organization has been set up in Delhi. Started in a room with the thought of reducing the plight and burden of lakhs of people who need financial assistance. By setting up branches in remote parts of India, the company is trying to expand itself with the thought of making a name with local people. Though banks and NBFCs are providing financial aid but still getting a loan is a strenuous task, with too much documentation, and yet many people face loan rejection. My Mudra has become a bridge between banks and customers. Where other competitors are paying attention either to the physical or the technological aspect, the USP of the organization is providing aid through the Phygital process, which showcases financial aid through the physical and digital processes.
Currently, the My Mudra is inviting potential strategic investors that can contribute to the vision of the organization. This new financial year, the organization is taking a step ahead to incline the growth of the company by adding stakeholders and investors who believe in creating a financially independent society.