You can be on Entrepreneur’s cover!

Digital Lending Platform mPokket Raises INR 500 Cr in Debt from BPEA Credit The Kolkata-based lending platform will utilise the raised funds to meet the growing credit demand of customers and accelerating product development in the career accelerator and insurance verticals.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Digital lending platform mPokket has raised up to INR 500 crore (including a green shoe option) in debt capital from the private credit platform of BPEA Credit.

In January 2020, the company raised USD 2.24 million in investment.

According to the official release, the raised funds will be used to meet the growing credit demand of customers and accelerating product development in the career accelerator and insurance verticals.

Gaurav Jalan, Founder and CEO, mPokket, said, "The partnership with BPEA Credit strengthens our mission of building the consumer credit economy in India with high affinity financial security and income expansion offerings for our growing young customer base"

Founded in 2016 by Gaurav Jalan, mPokket provides instant personal loans to all the college students and recent graduates from college (got a job offer or started working as a professional).

The startup claims that it has disbursed loans worth USD 1.7 billion to date using proprietary underwriting algorithms. With 24 million registered users, the business targets underserved young people in the workforce and self-employed individuals.

Kanchan Jain, Head of BPEA Credit Group, said, "We are pleased to partner with mPokket, a leading and profitable digital lending platform offering financing products to young working professionals and self-employed individuals. Our financing solution helps mPokket serve the growing needs of the underserved youth and is in line with our philosophy of providing bespoke growth capital to established industry leaders with good governance and risk mitigation framework."

Entrepreneur Staff

Entrepreneur Staff


Business News

I Designed My Dream Home For Free With an AI Architect — Here's How It Works

The AI architect, Vitruvius, created three designs in minutes, complete with floor plans and pictures of the inside and outside of the house.

Business Ideas

7 Link-Building Tactics You Need to Know to Skyrocket Your Website's Rankings

An essential component of SEO, link building is not just a 'Set them and forget them' proposition, but a dance of skills and strategies.

Science & Technology

These Are the Top 6 AI Threats to Your Business Right Now

The modern workforce is forever changed by artificial intelligence. If you fail to understand that we will all need to learn AI to some degree, you haven't been paying attention.

Business News

This Fan-Favorite Masters 2024 Item Is Still $1.50 as Tournament Menu Appears Unscathed by Inflation

The pimento cheese sandwich is a tradition almost as big as the tournament itself.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Here's One Thing Americans Would Take a Pay Cut For — Besides Remote Work

An Empower survey found a high percentage of respondents would take a pay cut for better retirement benefits and remote work options.