New Delhi, 12 June, 2023: FinEzzy, a prominent player in the Indian fintech industry, has set its sights on an ambitious goal to disburse an impressive INR 1,500 crore in loans against mutual funds over the next year. This announcement comes as FinEzzy launches its mobile app, introducing a comprehensive personal finance platform that is poised to disrupt the market.
With FinEzzy’s flagship solution, individual investors can now obtain loans against their mutual fund portfolio, eliminating the need to liquidate their holdings and providing a much-needed alternative to meet their financial requirements. This innovative approach, coupled with FinEzzy’s pipeline of upcoming solutions, establishes the company as a true trailblazer in the industry.
What sets FinEzzy apart is its unique marketplace model, which brings multiple lenders onboard onto a single platform. This empowers users to negotiate and secure the most favourable loan terms, creating a transparent and competitive lending environment that puts the power back into the hands of individual investors.
The entire loan process is designed to be seamless, fast, reliable, and secure. By embracing a fully digital approach, users can complete the loan application process in under 15 minutes, eliminating the hassles of mammoth paperwork. FinEzzy utilizes one-time-password (OTP) based consents to securely fetch holdings from Registrar and Transfer Agents (RTAs) and retrieve necessary documents from government repositories for Know Your Customer (KYC) compliance.
Atul Garg, Co-Founder and CEO, FinEzzy, commented, “With a strong focus on meeting the demand of individual investors in metropolitan areas, we are well-positioned to achieve our target of disbursing INR 1,500 crore in loans against mutual funds over 2023-24. This objective is in line with the recent AMFI report, which highlights that individuals hold approximately 50% of the Indian mutual fund industry’s assets under management (AUM) of 41.52 lakh crore. FinEzzy’s emergence promises to create a substantial impact on the personal finance landscape in India.”
In addition to its innovative offering for individual investors, FinEzzy has introduced an enticing proposition for Independent Financial Advisors (IFAs) and Mutual Fund Distributors (MFDs). These professionals can now extend the loan against mutual funds feature to their clients, allowing them to retain their Assets Under Management (AUM) while offering an auto-redemption insurance that complements their existing practices.
As FinEzzy disrupts the traditional lending landscape, it reaffirms its commitment to financial inclusion and empowering individuals to achieve their financial goals. By providing access to convenient and flexible loans against mutual funds, FinEzzy looks to alter the way individuals manage their personal finances, offering a more efficient and accessible avenue for securing funds.
