Digital Lending Market in India
India’s digital lending industry is on an expansive growth trajectory. A recent report states that the digital lending market is positioned to grow to a massive $515 billion by 2030. This shows that the fintech lending sector is witnessing consistent growth and a very positive future. Emerging digital lending companies in India have shown this by posting a CAGR 39.5% growth over a span of 10 years.
The digital lending space in India has received an investment of over $1 billion in recent times and majority of the activity in this sector has been around P2P lending, SME financing, short term credit and of course a phenomenal upward movement of the BNPL domain, mainly thanks for the dominance of ecommerce. BNPL has grown due to the collaboration of ecommerce and lenders who are banking on consumers appetite for shopping.
Apart from these essential factors for growth, digital lending in India has grown partly due to consumer data accessibility and the ease with which targeted loans are being offered. Also, digital lending space has better margins compared to any other fintech model. Experts also envision that co-lending will emerge as a newer model in coming years to balance the risk factor.
So, based on current trends, digital lending in India has a bright future and will compound due to the co- lending model, which will facilitate credit flow and help boost growth and profits and will also help in enhancing customer experience and overall integration of technology.
As a digital lending company, if you are keen to leverage your brand presence and engage in thought leadership in front of a captive audience and connect with decision makers from across India’s financial industry, then you should not miss out on this unique opportunity. Head straight here – (2nd FinTech India Summit & Awards and submit your interest) and we will get back to you and help you navigate through the exclusive opportunities that are available.