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I2Ifunding – Startup Solving pain for borrowing Money – Story

In India, Peer to Peer lending has been in occurrence from decades in offline mode and in informal manner. Therefore, participation on lending side was restricted to very few people having muscle power.

A graduate from IIM A ( Vaibhav ) found that borrowers are facing a large pain for their urgent financial requirement. So to help people meet their financial requirement at genuine interest rate without really squeezing them, Vaibhav started i2ifunding.


Our team got a chance to Interview Vaibhav and we got some really helpful insights from his startup story.

Bizztor: Firstly, can you please tell us a bit about yourself and where the things started and what motivated you to become an entrepreneur?

I completed MBA from IIM Ahmedabad in 2009 and for past 6 years have been in Operation & Business Excellence role. I have had opportunities to set up large scale operations from inception to full-fledged implementation. I have also designed and led development of various enterprise level solutions. Before MBA, I had graduated from T.S Chanakya in Nautical Sciences and worked as a Navigation officer on various merchant ships. The discipline and training which I received during this period has helped me immensely in all my endeavors.

i2ifunding startup I never wanted to be restricted in one single function or role, therefore entrepreneurship was the destination to fulfill this urge. I was always looking for an idea which really creates value and benefits a large population.

I came across a situation where I saw one of my colleagues borrowed money from money lenders at a monthly interest rate of 4%, to meet some urgent financial requirement, because his personal loan request was rejected by Bank. This case left me thinking about creating something which can help people meet their financial requirement at genuine interest rate without really squeezing them. This is how we started working on the concept of i2ifunding.

Bizztor: What is i2ifunding all about? Which customer pain you are solving and How? 

I2I is an online platform connecting qualified borrowers looking for unsecured personal loans and investors looking for alternative investment opportunities for higher returns. The personal loan can be used for multiple purposes, which include the purchase of consumer durable, debt consolidation (i.e. repayment of credit card debt etc.), medical expenses, education expenses, cash cycle optimization etc.

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The entire process is transparent, quick and easy. Apart from providing end-to-end services, i2i diligently evaluates the credit risk of each of the loan projects post, which it assigns risk category and recommends an interest rate for that project (a borrower can borrow at an interest rate, which is higher than or equal to this rate).

This helps the borrowers as well as the investors to have a benchmark while finalizing the interest rate. In the process, the investors get an opportunity to earn higher ‘risk-adjusted returns’ while the borrowers get an opportunity to get funded at the lowest cost possible as per their risk profile and market-based demand.

In India, Peer to Peer lending has been in occurrence from decades in offline mode and in informal manner. Therefore, participation on lending side was restricted to very few people having muscle power.

This also resulted in increased cost of borrowing for borrowers. We at i2iFunding are trying to formalize activity and bring more retail investors to this platform by providing them with various services like background verification of borrowers, risk assessment, opportunity to diversify the risk by investing small proportion of different loan requests, monitoring of EMI payments etc. As a result, i2ifunding is creating a win-win situation for both borrowers and investors.


Bizztor: What was the first thing you did to get the word out about your startup and how did you measure the effectiveness of this? 

First thing that we did to get the word out about our startup was to reach out to people in our social network and then take help in spreading the word further to create the multiplier effect. We measure the effectiveness of our campaigns by measuring the traffic it generates on our portal and also based on the registrations generated out of it.

Bizztor: What’s the hardest decision you’ve made so far?” 

Hardest decision was to leave a stable job with a comfort of getting a pay checque at the end of month and get fulltime into startup to realize my dream.

Bizztor: What mistakes have you made thus far in this business and what have you learned? 

We are at very early stage of our start up, so not many examples to share for this. One thing that I can point put is that once you have decided to launch something do not waste time in making it perfect. Getting it quickly to market is very important. Most of the time you will have to anyway make the tweaks based on how the market responds to it.


Bizztor: As a founder, what do you believe to be the end goal for this startup? 

We want to make i2ifunding a leading financial institution in India, so that it should be the first name in mind when people either think of investment or borrowing.


Bizztor: What helps you when you doubt yourself? 

I have identified my stress busters and go to persons. You should know persons who trust you more than you do yourself. Talking to them reignites the self-belief once again. My advice is that you work hard but never get isolated.


Bizztor: Finally, would you have any inspirational tips for aspiring entrepreneurs about to kickstart their startup dream? 

If you are in dilemma of whether you should go for it or not, then remember that always remember that if you take a risk there is a chance, however small it may be that you will succeed, but, if you do not take a risk then there is no chance of success. When the times have passed you always cherish most challenging phases of your life not the most dull or so called stable phases of your life. So stop ideating and start working.


i2ifunding startup storyBizztor: What does it take to start an online business nowadays? A unique innovative idea? Know-how? Long working hours? People? What is your recipe? 

I would say probably all of what you have mentioned. One thing is for sure that whatever idea you may have, it is not easy to get it implemented. There would be times when you would be constrained for resources; there would be times when you may not have enough time as competition starts coming in, therefore it is really important that you have full faith in your idea and you get into it in with long term commitment.


Bizztor: Last question for everyone – Before we let you go, where can we find you online?

Best way to connect with me is via email. I usually respond to each email, sooner or later. You can reach out to me on [email protected] .

Website Link : i2ifunding – Peer to Peer lending platform

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Team Bizztor

Bizztor is a Media Platform focused on Educating, Connecting and promoting startups.
Our vision is to help early-stage startups and be a part of their growth. we believe that startups have the potentials to create solutions for community problems and we see ourself as helping hand to such entrepreneurs.

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