Summary:
Gurgaon, Haryana, India (NewsVoir) Digital marketplace for consumer credit and free credit score platform Paisabazaar announced today that it has reached an annualized loan disbursal rate of Rs.
12,000 crore along with an annualized rate of 0.5 million credit cards issued.
In Q2 of FY 2022-23, Paisabazaar’s disbursals grew by 94% year on year.
Number of consumers who have checked their free credit score from the Paisabazaar platform crossed 3.1 crore.
In the second quarter of the financial year, around 22 lakh new consumers checked their credit score on Paisabazaar for the first time.
Paisabazaar’s stellar growth post the pandemic crisis has been driven by strong focus on digitization, sharp segmentation-led product and process innovations, along with its emerging credit strategy and co-created product initiatives.
Since the pandemic in 2020, Paisabazaar has focussed on building its business with strong margins.
One of Paisabazaar’s key objectives is moving towards profitability; it is aiming to break even in its lending business by the end of this financial year.
Naveen Kukreja, Co-founder & CEO, Paisabazaar, says, “Our core focus has always been on providing the best offers to consumers across segments.
Today, we are at a vantage point with a deep understanding of the demand and supply dynamics, enabling us to innovate and cover consumer need gaps across the credit spectrum.