Latest News | Business Briefs Propelld Disburses Loans to over 45,000 Students Across 550 Plus Institutions

New Delhi, Nov 25 (PTI) Education financing platform Propelld has disbursed loans to over 45,000 students across 550 plus institutions during 2021 till now.

The company aims to disburse loans to over 1.5 lakh students by next year. It has marked 250 per cent yearly growth in loan disbursements this year, it said.

Also Read | Reddit To Shut Down Dubsmash on February 22, 2022.

High demand for education loans was witnessed from tier 1 and 2 cities, with a majority of student applications coming from Maharashtra, Uttar Pradesh, and Karnataka, it said.

The overall requirement for education financing comprises around 28 per cent female and 72 per cent male students with greater financing demand for data science and analytics, programming, AI&ML.

Also Read | Truecaller Version 12 With Video Caller ID, Redesigned UI & Call Recording Features Launched for Android.

* * * * * Samavesh launches platform to sell life, health, general insurance

*Insurance broking firm Samavesh has launched a platform to sell life, health, and general insurance.

The platform will enable the partner distributors to suggest the right insurance products depending on the requirements of the customers, its parent company Nivesh-- wealthtech company-- said in a release.

Embedded in a digital setup, the insurance platform will cater to both urban and rural customers. It is a pan-India initiative, offering all kinds of insurance products in the market, it said.

* * * * Drona Pay raises Rs 3.2 crore in seed funding round

*Mumbai-based Drona Pay, which helps financial institutions defend themselves against fraudsters, on Thursday said it has raised a seed round of Rs 3.2 crore from Varanium Capital, Credit Saison, fintech veterans including Kunal Shah, Jitendra Gupta, Amrish Rau, and a clutch of other investors.

Drona Pay delivers real-time protection using machine learning and proprietary data sets, to defend institutions against frauds in payments and lending by means such as BNPL, UPI, credit card, or debit card transactions.

* * * *

Kinara Capital launches myKinara mobile app to furnish unsecured MSME loans

*Fintech player Kinara Capital on Thursday said it has recently launched myKinara mobile app to furnish unsecured MSME loans.

myKinara app allows small business entrepreneurs to securely apply and receive collateral-free business loans digitally within the 24-hours turnaround time (TAT), Kinara Capital said.

The vernacular myKinara app enables small business entrepreneurs to create a self-directed loan application journey.

"Fast decisioning, processing and disbursements in a span of 24 hours goes a long way in meeting the demands of our customers, thereby supporting their business growth," said Hardika Shah, Founder, and Chief Executive Officer, Kinara Capital.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)