Upwards Fintech offers a paperless personal loan application process for salaried individuals, enabling quick approval and disbursement of loans up to ₹5 lakh without collateral. The platform addresses the need for accessible financing by providing low-cost EMIs and minimal documentation, ensuring a fast and efficient borrowing experience.
Funding
$5M 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.
Founders
Product
Problem
Many salaried individuals in India lack access to quick and convenient personal loans due to lengthy application processes and extensive documentation requirements. Traditional loan applications often involve collateral and can be time-consuming, creating barriers for those needing immediate financial assistance.
Solution
Upwards Fintech provides a fully digital personal loan platform designed for salaried individuals, offering loans up to ₹5 lakh with minimal paperwork and no collateral. The platform streamlines the application process, enabling quick approvals and disbursal, typically within one day. By leveraging a mobile app and digital KYC, Upwards Fintech offers an accessible and efficient borrowing experience with affordable EMIs, catering to a wide range of financial needs from home renovation to medical emergencies. The company partners with Lendingkart Finance Limited, a non-banking financial company (NBFC), to provide these loans.
Target Audience
The primary target audience includes salaried individuals in India with a minimum monthly income of ₹20,000, aged between 21 and 50 years, seeking short-term personal loans for various needs such as home renovation, medical emergencies, or family functions.
Features
- 100% paperless loan application process via mobile app
- Quick loan approval and disbursal within 24 hours
- Loans available from ₹25,000 to ₹5,00,000
- No collateral required
- Affordable EMIs starting from ₹2,500
- Digital KYC using PAN, bank statement, and salary slip
- Automated loan approval based on income-to-expense ratio, demographics, professional experience, and CIBIL score
- Marketplace feature providing access to loans from multiple lending partners