SwitchMyLoan, secures pre-Series A funding

Let's tune into the bustling streets of Mumbai, where start-up SwitchMyLoan just wrapped up their pre-Series A funding round, led by the snazzy O2 Angels Network. A few investors joined the party, including Rajesh Ranjan, Dr. Jaydeep Thaker, Angel Scions, and Sirius One Capital Fund.

The founder, Chintan Panchmatiya, wants to pump the financial fuel into tech development and business expansion.

• SwitchMyLoan's founders spotted a problem—a lot of people were confused about how to find the right lender for their needs.

• Enter SwitchMyLoan, a digital platform that brings all lenders under one roof and guides customers throughout the journey of getting a loan.

• The platform works with over 85 lenders, including big names like HDFC Bank, ICICI Bank, Axis Bank, and more.

• SwitchMyLoan offers options for home loans, business loans, personal loans, auto loans, education loans, and more. Plus, with their AI-based self-assessment tool, the process becomes a breeze.

• The startup has over 120 employees and plans to expand its branches to the Northern region soon.

In the future, SwitchMyLoan plans to partner with banks for co-lending and wants to become a Non-Banking Financial Company (NBFC) to get into lending themselves. So folks, keep an eye on this one!