In its bid to identify and nurture innovative tech and fintech focused startups, LenDenClub, peer-to-peer (P2P) lending platform, has launched a venture fund called ‘LenDenClub Alpha’ which will focus on Seed and pre-series stage fintech startups.
LenDenClub Alpha aims to on-board early-stage start-ups, offering them mentorship and access to capital thereby enabling them to accelerate their growth journey.
Apart from capital infusion through LenDenClub Alpha, it plans to utilize its expertise in the fintech space to mentor these startups to plan and grow in the right direction to become the next disruptors in the fintech space. The fund aims to assist its investee startups by offering mentorship, technological upgradation, driving customer acquisition, and building innovative products for masses among others.
With the fund's launch, the platform is planning to make a strategic move to take early bets that may lead to the expansion of the fintech startup ecosystem, it said.
Designed to help startups scale at an accelerated pace, LenDenClub Alpha will hand-pick Seed and pre-series stage ventures to unleash their growth potential. The platform will help startups design their vision and build a robust business model that offers tech-backed futuristic products to create optimum consumer impact. It intends to invest funds based on the requirements and potential of the particular startup. LenDenClub Alpha will therefore focus on startups in the space of Lendtech, Wealthtech, Neobanks, Underwriting Tools, and other allied segments.
Bhavin Patel, Co-Founder and CEO of LenDenClub, said, "At LenDenClub Alpha, we want promising startups to ride on the knowledge, and expertise that we have built over a period of time, thereby enabling them to grow at an accelerated pace. We believe in the power of ‘shared vision’ and ‘shared growth’ and it's about time for us to extend this approach beyond LenDenClub."
