SwitchMe secures funding from a clutch of investors- theknitcity

SwitchMe secures funding from a clutch of investors

Financial services startup SwitchMe, that helps customers switch home loans from one bank ANother|to a different} through its on-line portal has raised an covert quantity of funding from a clutch of investors together with Mohandas Pai, Hiro Mashita, Singapore Angels, among others. The funding are utilized for strengthening its product technology, and for extending its service to additional cities. SwitchMe’s services square measure presently offered in city, Pune, urban center and Ol

The startup was co-founded by Hindu deity Mishra and Sourasis Roy; it claims ­to permit customers to transfer their equity credit line to a lower rate of interest by serving to them switch between lenders. It will this by providing loan-related info through its on-line web site, whereas claiming to try and do all legal work with the smallest amount intervention from the customer’s facet. disposal establishments sometimes have long legal, and body processes whereas transferring home loans to different banks.
However, in some ‘rare cases’, the client might need to be physically gift whereas getting No-objection Certificates and different connected legal work, aforementioned Mishra whereas speech MediaNama.

“We give a repository {of info|of data|of knowledge} relating to interest rates and savings structure while not asking customers to sign on or while not prompting them to supply user information. Most portals and banks raise customers to sign on before they may give any such info,” adscititious Mishra.

Other developments within the money space:

-In March, Payment entryway CCAvenue partnered with on-line disposal platform LendingKart to launch ‘CCAvenue Finance’. Merchants and shoppers of CCAvenue will ask for money help through the initiative-In Feb, Craftsvilla partnered with Lendingkart, a web disposal platform for entrepreneurs and little businesses, to supply collateral free business loans to tiny and medium enterprises (SMEs) and sellers.

-In a similar month, Alternate banking channel company FINO PayTech signed Associate in Nursing agreement with Reliance business finance to supply credit to rural poor within the states of geographical region and Madhya Pradesh.

-In Nov 2015, Payment solutions supplier Oxigen Services partnered with Creditnation.in to facilitate the procurance of loans through Oxigen notecase.

-In a similar month Paytm has partnered with Lendingkart, a web disposal platform for entrepreneurs and little businesses, to supply collateral free business loans to tiny and medium enterprises (SMEs) and sellers.– In Gregorian calendar month 2015, as a part of its trade facilitation centre (TFC), Chinese ecommerce player Alibaba tied-up with ICICI Bank to supply trade finance and with certification company SGS to supply credit checks and inspections for the TFC.

d Delhi.