Insta EMI, a fintech company, is on an expansion mode seeking to build its network in metro cities while broadening its range of services.

The Hyderabad-based company, founded in 2012, has partnered with over 30 banks and over 40 asset management companies to offer both loan facilitation and investments.

Hanu Yedluri, Chief Executive Officer of Insta EMI, said, “Technology has brought in a new level of disruption in the financial services sector. Our technologically-sound platform gives us the capacity to take quick decisions and facilitate services, be it loans or investments. “We are on the verge of expansion to major metros of New Delhi, Mumbai and Kolkata apart from some other select cities, helping people through the online platform and offline channels, including mobile vans. We expect to raise up to $10 million to be injected in the business capital to help grow our asset portfolio in metro cities,” he said.

“We are in an advanced stage of parleys to finalise the financial transaction with capital from a US-based financial services company, which is keen to be part of the India growth story. The deal is likely to be closed by March,” he said.

Specialising in credit underwriting and portfolio management, the company offers an online platform providing financial services and after-sales support. The company completed total loan disbursement of ₹60 crore as of December 2016, and expects to close this fiscal with ₹100 crore.

A big chunk of this disbursement is covered by unsecured loans to the salaried class and the self-employed. “Our strength is in offering loans up to ₹50,000 without hassles and then we connect people with banks for higher amounts,” he said.

The company integrates data secured from CIBIL and others credit parameters to expedite decision-making.

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