BharatLoan targets 2 crore customers, maintaining its unmatched customer loyalty with a 90% retention rate
New Delhi: BharatLoan, the leading full-service digital lender in India, today announced its ambitious plan to grow its customer base from 20 lakh to over 2 crore by 2026, while maintaining a 90% customer retention rate.
Founded in February 2023 and headquartered in Okhla, BharatLoan has quickly established itself as a disruptive force in India's financial landscape. The company's 100% digital loan experience has already garnered over 1 million app downloads, making it the fastest NBFC to reach this milestone. This rapid adoption underscores the pressing need for accessible, innovative financial solutions in the market.
Amit Bansal, Founder of BharatLoan, elaborated on the company's vision, "Our growth reflects the surging demand for financial services tailored to the unique needs of salaried professionals in metro cities. There's been a significant shift in how the new generation pursues their dreams, placing a higher value on balanced lifestyles and luxury compared to previous generations. This shift has made them more willing to embrace personal loans confidently. With hassle-free processes, no collateral requirements, and flexible repayment options, customers are increasingly turning to instant cash loans. At BharatLoan, we leverage advanced technology and a deep understanding of these evolving preferences to drive growth in India's financial services sector. Our focus is on delivering accessible financial solutions that empower individuals to achieve their goals in today's fast-paced world.”
Central to BharatLoan's expansion strategy is its recently launched Bharat Easy EMI product. This flexible, mid-to-long-term financing option utilizes an advanced BRE algorithm to assess creditworthiness, considering factors beyond conventional CIBIL scores. This innovative approach allows BharatLoan to extend credit opportunities to a wider segment of the population, further driving financial inclusion.
The company's growth plans are not limited to personal loans. In line with its commitment to sustainability, BharatLoan is developing Green Loans tailored for solar energy and electric vehicles (EVs). This initiative aims to make environmentally friendly choices more financially accessible to its growing customer base.
Since its inception, BharatLoan has experienced a remarkable 25% month-over-month revenue growth. The company's team has expanded to 300 employees, reflecting its rapid scaling and operational growth.
BharatLoan's ambitious target of reaching 2 crore customers while maintaining a high retention rate demonstrates its confidence in its innovative, customer-centric approach to lending. By combining cutting-edge technology with a deep understanding of customer needs, BharatLoan is poised to continue its disruptive journey in India's financial services sector.
About BharatLoan
Bhara Loan is a financial innovator making waves in the loan industry. Since their launch in 2023, they've been dedicated to simplifying access to financial resources, particularly for salaried professionals in major cities. They leverage modern technology to provide a completely digital loan experience, smooth and hassle-free. Financial inclusion is a core value for Bharat Loan. They believe everyone deserves a fair chance to access the resources they need. Transparency and security are paramount, and they're committed to responsible practices that contribute to a greener future. By offering faster and more accessible loan options, Bharat Loan empowers individuals to achieve their goals with confidence.
