Business Model

Business Activities

Fair Vinimay Services Private Limited operating under the trade name IndiaMoneyMart (IMM) is one of the existing Peer to Peer (P2P) Lending platforms in India. IMM platform connects lenders looking for returns with borrowers looking for loans at competitive rates. These loan are unsecured loans requirements  of the borrowers for various needs. IMM is a tech-enabled platform that provides:

• Lenders an opportunity to lend directly to the borrowers.
• A platform which is essentially a peer-to-peer platform utilizing and validating multiple data-points to establish the credibility of both parties.

Lenders on IMM platform get access to profiled creditworthy borrowers with complete details and lend funds to borrowers of their choice, which provides an attractive return on the funds lent. IMM follows a rigorous credit underwriting process to determine the intention and ability of a loan seeker to repay debt and enable lenders to deploy their funds profitably.

The business activities comprises of the following processes

A. Process of Participant Authentication

The participants on IMM platform are borrowers and lenders. The process of authentication for both the borrowers and lenders are automated and starts with a simple registration process.

• The process of borrower authentication is done at the first step itself through authentication of mobile and email data.
• The registration of borrower at IMM comprises of various steps starting from submitting basic Know Your Customer (KYC) details, Personal/ Professional details, Financial Information and finally uploading details required for credit assessment.
• The KYC details uploaded by the borrowers are then verified by the IMM team.
• Credit assessment of the borrower is done based on information submitted and credit information reports obtained with consent of borrowers and other documents uploaded by the borrowers.
• Finally, the last step is to do a physical verification of the borrower, if considered necessary.

      ii. Lender’s authentication process

• The registration of lender also starts with submission of basic KYC details and uploading of various KYC documents.
• The process of lender authentication is done at the first step itself through authentication of mobile and email data.
• The KYC details uploaded by the borrowers are then verified by the IMM team.

B. The procedure of documentation of loan agreements (Agreement Generation and Loan Disbursal Process)

• Based on the credit assessment, if the borrower registered on the platform is found creditworthy, his/ her profile is made live on the IMM platform and the Lenders registered with IMM can view the credit profile of the proposed borrowers along with IMM Score.
• Lenders can view the proposed mapped borrowers and give deemed consent to lend to them.
• Disbursement of loan is done once documentation formalities are completed.
• Collection of EMI and transfer to Lender's account is based on re-landing period selected if any.
• All payments from Lenders to Borrowers is done through Escrow Accounts.
• All borrower payments are received in Escrow Account.
• Providing Legal support services to Lenders for collection, if required on best efforts basis.
• Providing updates to Lenders on the portfolio performance for loans disbursed.

The business activities of the company do not include the following

• The company does not provide any secured loans
• The company does not carry any lending from its own book.
• It does not provide any credit guarantee for the loans on its platform nor does it provide any return assurance.

Business Model

The Business Model of IMM is enabling transactions between Lenders and Borrowers through P2P lending on a tech enabled platform and earning Registration fees, Transaction fees and Service charges from both borrowers and Lenders