This platform provides instant, unsecured personal and business loans digitally with minimal documentation required. Users can access credit up to ₹5 lakhs quickly through a mobile application for various needs like travel, education, or business expansion. The service also offers integrated personal accident insurance coverage for added financial security.
Funding
$12M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+6Founders
Product
Problem
Many individuals in India lack access to quick and convenient personal loans for immediate financial needs due to lengthy approval processes and extensive paperwork required by traditional financial institutions. This can be particularly challenging for those needing funds for unexpected expenses or to pursue opportunities requiring immediate capital.
Solution
RING offers a mobile-first lending platform that provides personal loans up to ₹5 lakhs with a fully digital application process and disbursal within minutes. Leveraging an RBI-licensed NBFC, the platform streamlines KYC verification and credit assessment to provide eligible users with instant access to funds. In addition to personal loans, RING facilitates seamless UPI payments, allowing users to make online and offline transactions directly from their credit line. The platform aims to empower users with accessible credit and convenient financial tools, all within a transparent and user-friendly interface.
Target Audience
The primary target audience includes young, tech-savvy individuals in India seeking quick access to personal loans and convenient digital payment solutions for various financial needs.
Features
- Instant personal loans up to ₹5 lakhs with disbursal in as little as 5 minutes
- Fully digital KYC and application process via mobile app
- Flexible repayment tenures ranging from 3 to 60 months
- Direct deposit of loan amount into user's bank account
- Integrated UPI functionality for online and offline payments
- Transparent terms and conditions with no hidden fees
- Customer support via registered landline lines and email
- SSL-certified application with secure transactions