Credit accessibility plays a pivotal role in driving economic growth, and a seamless borrowing process can be a game-changer for individuals seeking quick financial solutions. Bengaluru-based fintech startup Quicklend is transforming the lending landscape by offering instant loans against mutual funds (MFs), ensuring a hassle-free experience with minimal paperwork and competitive interest rates.
A Fintech Innovation for Fast and Secure Loans
Founded in December 2023 by Raghuram Tirkutam, Arun Jadhav, and Abhishek Uppala, Quicklend connects retail customers with financial institutions to provide loans against their mutual fund holdings. The startup leverages technology to complete the entire loan process in just 30 minutes, making it one of the fastest loan approval platforms in India.
With India’s mutual fund industry managing assets worth ₹66.93 lakh crore as of December 2024, Quicklend taps into a massive market. The surge in systematic investment plan (SIP) contributions, reaching ₹26,459 crore in December 2024, further highlights the growing investor base that could benefit from such an innovative credit solution.
How Quicklend Works: A Smart Lending Model
Quicklend’s business model focuses on identifying creditworthy borrowers and seamlessly connecting them with financial institutions. By partnering with mutual fund distributors and fintech firms, the platform ensures efficient loan disbursal while maintaining a zero-cost model for borrowers.
Key features of Quicklend’s loan offerings include:
Loan amounts ranging from ₹25,000 to ₹3 lakh, with a provision for loans up to ₹1 crore in specific cases.
Borrowers can access up to 50% of their mutual fund holdings as credit.
Instant processing with funds credited within 30 minutes.
The startup has also attracted corporate clients seeking flexible credit solutions. With no collateral beyond MF holdings, Quicklend’s secured lending model enables lower interest rates compared to unsecured loans, benefiting both lenders and borrowers.
Navigating a Challenging Fintech Landscape
The Reserve Bank of India (RBI) has imposed stricter regulations on fintech-based credit disbursement, making it challenging for startups to sustain traditional lending models. However, Quicklend remains optimistic, recognizing a strong demand for secured credit solutions in India.
“We believe there’s a latent demand for credit where financial institutions have funds to lend, but the discovery mechanism is lacking,” says Raghuram Tirkutam, Co-founder of Quicklend. “Our platform bridges this gap by ensuring fair margins for lenders and the best interest rates for customers.”
Financial Partnerships and Market Growth
To bolster its services, Quicklend has partnered with Bajaj Finserv and Piramal Finance, among other financial institutions. The platform currently processes 40-50 loans per month, demonstrating its growing traction in the market.
The startup recently secured ₹7 crore in pre-seed funding from investors including Upsparks, Eximius Ventures, and Inuka Capital. Industry experts believe that secured lending, particularly against mutual funds, will gain momentum as awareness and adoption increase across Tier 2 and Tier 3 cities.
“As vigilance around unsecured loans rises, secured loans are set to grow significantly,” says Pearl Agarwal, Founder and Managing Partner of Eximius Ventures. “With mutual funds becoming a preferred investment option across India, Quicklend’s digital-first approach is set to revolutionize the lending space.”
The Road Ahead: Expansion and AI-Powered Lending
Looking ahead, Quicklend is exploring expansion into loans against stocks and real estate while enhancing its AI-driven credit assessment system. The startup aims to provide personalized loan recommendations, ensuring that borrowers connect with the most suitable financial institutions based on their requirements.
“We are building a system that benefits both retail consumers and financial partners, ensuring a seamless lending experience,” says Tirkutam.
With its secure, fast, and transparent lending model, Quicklend is well-positioned to redefine the fintech lending ecosystem in India. As digital lending continues to evolve, startups like Quicklend are at the forefront of democratizing credit access, making borrowing easier and more efficient for millions of Indians.
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