How LenDenClub Cracked The P2P Lending Code

In 2024, LenDenClub, a Mumbai-based peer-to-peer (P2P) lender, plunged into the red, posting a double-digit loss of INR 14.17 Cr, as its operations were hit hard under a strict regulatory regime. The slide at the end of FY24 was staggering. The company had been profitable two years ago, reporting an INR 6.98 Cr profit after tax and achieving a 1,000% YOY surge in loan disbursement volume.

How did the regulatory landscape change? By August 2024, the RBI had finalised its stringent guidelines that hit the P2P Lending ecosystem like a…