With robust credit demand from salaried professionals, which remained largely unaffected by the second wave of the pandemic, consumer lending platform EarlySalary has crossed ₹4,000 crore of disbursals and expects to touch ₹5,000 crore by December this year.

“EarlySalary expanded its presence in 27 Tier-II and Tier-III regions to meet the demand for credit solutions from the region,” it said in a statement.

“Over the past six years, we have disbursed over 1.9 million loans, and expected to touch 2 million by September 2021,” said Akshay Mehrotra, Co-founder and CEO of EarlySalary.

‘No dip in demand’

In an interaction with BusinessLine , Mehrotra said there was no dip in demand in the second wave of the pandemic and the company has not faced any pressure in terms of delinquency as well.

“We disbursed about ₹130 crore in April, which was at ₹165 crore in July and is expected to touch ₹180 crore in August,” he added.

It also expects its balance sheet to nearly double to about ₹800 crore by December from ₹475 crore now. It aims to grow the balancesheet to about ₹1,100 crore by March 2022.

The company is also betting big on the Buy Now Pay Later Segment and expects it to fuel about 35 per cent of its business by March.

“A lot of the current growth is due to BNPL,” he said.

EarlySalary offers BNPL in three segments including education, insurtech and healthtech and plans to launch consumer tech in another month, Mehrotra said.

The company also offers digital card for payments and had launched the RuPay powered SalaryCard.

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