New Delhi: In a development which reflects its technological prowess and market leadership, Faircent, India’s largest peer-to-peer lending marketplace, has been awarded the status of a ‘Super Start Up’ by Superbrands. ‘SuperStartUps’ is an initiative by Superbrands that is aimed at identifying high-potential tech start-ups in the country which exemplify Trust, Dependability, and Respect.
A thorough and exhaustive selection process was employed to finalise 40 ‘Super Start Up’ winners from the eligible 6,000 start-ups. Thousands of users across 25 cities in India voted for their favourite online brands in the first phase, which saw around 400 start-ups shortlisted based on user votes. Users were asked to rate the shortlisted brands on four parameters – ‘Uniqueness’, ‘Creativity’, ‘Relevance’, and ‘Delivery’ – while additional questions pertaining to a brand’s user engagement were also put forward to respondents as a part of the survey. Faircent scored highly on all parameters and gained an overall rating of 8.6, thus securing the title of a ‘Super Start Up’.
Speaking on the announcement, Rajat Gandhi, Founder & CEO, Faircent, said, “Faircent was established with a simple vision – to make acquiring capital easier and more cost-effective for the country’s growing consumer base. It leverages state-of-the-art technology to connect borrowers directly with lenders, and eliminates the high margins that banks and other financial institutions usually charge on loans. This innovative approach has helped Faircent, in a short span of time, gain impressive traction in the Indian market besides carving a strong niche for itself as one of the most trustworthy brands in the country.”
The latest achievement marks another addition to the long list of accolades garnered by Faircent for its disruptive and effective business approach. The platform has been previously named as the ‘Interbrand Breakthrough Brand in Finance’ in the inaugural Breakthrough Brands report by Interbrand in partnership with Facebook, Ready Set Rocket, and the New York Stock Exchange (NYSE), and It has also been named in the 2016 NASSCOM Emerge 50 Awards, and was amongst the top 8% of all start-ups selected to be part of NASSCOM’s 10,000 Startups initiative.
Faircent.com is India’s largest peer to peer lending website which caters to retail and business loans. It is an online platform where, people who have spare money lend it directly to people who want to borrow, thereby eliminating intermediaries and the margins they used to make. Recently, Faircent.com, under the trusteeship of IDBI, created an Escrow account for its lenders to help in faster and smoother flow of funds enabling them to make greater returns on their investments.
Faircent.com in its nascent history has been able to garner recognition from the Industry – It was showcased as one of the top start-ups at Start Up India, selected for the first batch of NASSCOM 10,000. It is part of the Microsoft Accelerator Winter Cohort and BizSpark programme and was one of the top 10 companies from India to be selected for Web Summit in 2013. Faircent.com is the only P2P lending company that has been acclaimed as the ‘Interbrand Breakthrough Brand in Finance’ by Interbrand in its Breakthrough Brands report 2016 in partnership with Facebook, NYSE & Ready Set Rocket. Recently, it was awarded the NASSCOM Emerge50 given to India’s high potential top 50 emerging companies in different domains.
For more information log on to https://www.faircent.com
SuperStartUps started with a vision of providing something of incredible value to its winners that sets itself apart from other start-up competitions – a start-up competition chosen by the netizens of India. At the end of the day, the success of a start-up depends on how resonant its product is among the masses. With this, SuperStartUps decided to undertake an extensive research process encompassing 4 months and 22 Indian cities to ascertain which start-ups were making the most buzz.
Finally, from over 6000 eligible start-ups, India’s next big start-ups were selected. Being a SuperStartUp provides its winners the ultimate validation – how the public is reacting to their idea. Accompanied by a research report, they get a holistic understanding of what aspects of their business are working and what needs to be tweaked to provide a product that is universally lauded. Furthermore, they get access to the who’s who of the investor world to secure funding for expanding their operations.
Lastly, they get the stamp of being the first SuperStartUps by Superbrands – an organization that has successfully provided a differentiating factor for all the companies it has honored in its 15-year stint in India.