Viva Money Issues 1,000 Loans in 3 Months, Aims for 40,000 by Year-End

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Viva Money, a digital lending platform, is making waves in the Indian financial sector. The company has surpassed a significant milestone, issuing over 1,000 credit lines to customers across the country within just three months of operation since December 2023. This achievement highlights Viva Money's dedication to making financial solutions accessible to all.

Viva Money has facilitated over ₹35 million in loans to its mobile app users since its launch. The platform’s initial focus is on serving customers in Gujarat and Karnataka, with its remote and paperless loan processing system being a major attraction. Additionally, the flexibility of the credit lines, coupled with a generous grace period of up to 51 days, has positioned Viva Money as a strong contender in India's financial services market.

Currently, credit limits on Viva Money range from ₹5,000 to ₹2 lakh, with the average loan amount being ₹35,000 and a typical borrowing tenure of 5-10 months. Viva Money's Marketing Manager, Vishal Jain, commented on the achievement, stating, “The phenomenal response we've received since launch validates the growing demand for our services. With over 1,00,000+ app downloads so far, the need for online lending solutions is clear.

We are committed to providing exceptional convenience for our customers, empowering them to manage everyday financial challenges with our flexible credit lines. Our focus remains on continuous improvement, expanding our reach, and ensuring a seamless financial experience for our valued users." Viva Money has ambitious plans for 2024. The company intends to strategically expand its services to encompass additional states across India, with Rajasthan & Maharashtra being the immediate targets.