In a development which reflects its technological prowess and market leadership, Faircent, India’s largest peer-to-peer lending marketplace, has been awarded the status of a ‘Super Start Up’ by Superbrands. ‘SuperStartUps’ is an initiative by Superbrands that is aimed at identifying high-potential tech start-ups in the country which exemplify Trust, Dependability, and Respect.
A thorough and exhaustive selection process was employed to finalise 40 ‘Super Start Up’ winners from the eligible 6,000 start-ups. Thousands of users across 25 cities in India voted for their favourite online brands in the first phase, which saw around 400 start-ups shortlisted based on user votes. Users were asked to rate the shortlisted brands on four parameters – ‘Uniqueness’, ‘Creativity’, ‘Relevance’, and ‘Delivery’ – while additional questions pertaining to a brand’s user engagement were also put forward to respondents as a part of the survey. Faircent scored highly on all parameters and gained an overall rating of 8.6, thus securing the title of a ‘Super Start Up’.
Speaking on the announcement, Rajat Gandhi, Founder & CEO, Faircent, said, “Faircent was established with a simple vision – to make acquiring capital easier and more cost-effective for the country’s growing consumer base. It leverages state-of-the-art technology to connect borrowers directly with lenders, and eliminates the high margins that banks and other financial institutions usually charge on loans. This innovative approach has helped Faircent, in a short span of time, gain impressive traction in the Indian market besides carving a strong niche for itself as one of the most trustworthy brands in the country.”
The latest achievement marks another addition in the long list of accolades garnered by Faircent for its disruptive and effective business approach. The platform has been previously named as the ‘Interbrand Breakthrough Brand in Finance’ in the inaugural Breakthrough Brands report by Interbrand in partnership with Facebook, Ready Set Rocket, and the New York Stock Exchange (NYSE), and It has also been named in the 2016 NASSCOM Emerge 50 Awards, and was amongst the top 8% of all start-ups selected to be part of NASSCOM’s 10,000 Startups initiative.