IT major Quicktouch to launch loan aggregating platform OfferMeLoan aimed at small borrowers 

Quicktouch Technologies plans to launch OfferMeLoan, a new platform aimed at simplifying the borrowing process for self-employed individuals and salaried professionals. The platform  is designed to connect borrowers with nearby certified loan agents, facilitating loan processing through partnerships with banks and non-banking financial companies (NBFCs).

OfferMeLoan seeks to address challenges faced by borrowers who are unable to secure loans due to low CIBIL scores or incomplete documentation. The app enables these borrowers to consult loan agents who can help process loans, ranging from Rs 1 lakh to Rs 100 crore, through established financial partnerships. 

‘The aim of the platform is to ensure small borrowers get access to capital at reasonable interest rates. Apart from that, focus is also on financial inclusion, financial literacy and responsible spending. Modernising lending & payment solutions is beneficial, but with convenience comes the risk of irresponsible spending’ said Quicktouch MD Gaurav Jindal. He added, ‘Our goal is to provide financial literacy to youth, encouraging them to think before they spend and make responsible financial decisions’

The platform focuses on generating verified loan leads by collecting and sharing borrower information, such as CIBIL scores, salary slips, and bank statements, directly with partner agents. These agents can then process loans and earn commissions. OfferMeLoan operates as a lead generation tool, without directly engaging in lead verification or loan processing.

Quicktouch promoters plan to infuse additional capital of around Rs 60.00 crores into the platform to drive growth and increase market presence. The funding will be allocated toward enhancing the platform’s features and expanding its reach to a larger number of borrowers and agents across India.

The lending market is competitive, with players like PaisaBazaar, and BankBazaar. However, OfferMeLoan distinguishes itself by focusing on hyper-local loan processing, connecting borrowers with loan agents in their vicinity. This local approach is intended to streamline loan approvals and improve service delivery for underserved borrowers.