CRED to offer up to 9% returns to investors with peer-to-peer lending platform Mint

CRED is launching the Mint platform in partnership with RBI registered P2P non-banking financial company (NBFC), Liquiloans. 

New Delhi: CRED on Thursday (August 19) announced that the firm is launching a peer-to-peer (P2P) lending platform named Mint, as the fintech startup aims to monetise its 7.5 million users. At present, the CRED app offers several services such as credit card repayment, instant personal loan, rent payments and online shopping deals, among others.     Founded by second-time founder Kunal Shah, CRED is launching the Mint platform in partnership with RBI registered P2P non-banking financial company (NBFC), Liquiloans. Notably, Liquiloans count Shah as one of the early investors in the startup.  What is peer-to-peer lending?  In peer-to-peer (P2P) lending, borrowers borrow money directly from an individual, instead of a financial institution. The lender earns interest on the loan, cutting out financial institutions as middlemen.