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Liqui Loans

“Can a regulated P2P lending marketplace in India scale prime-borrower personal loan origination while offering retail lenders superior risk-adjusted returns relative to traditional fixed-income products?”

Founded2018
HQMumbai, Maharashtra, India
Total raised₹12+ crores
IndustryFintech / Lending
The story

Founded in 2018 as an RBI-regulated P2P lending marketplace operating as NDX P2P Private Limited, LiquiLoans connects individual and institutional lenders with borrowers seeking personal loans starting from 11% p.a. The platform expanded its product suite beyond plain personal loans to include deposit financing, wedding loans, vacation loans, debt consolidation, vehicle loans, and education loans, along with an investor-side 'Invest in Loans' product. In 2024, RBI revised its Master Directions for P2P platforms, requiring LiquiLoans to temporarily suspend certain functionalities, signalling regulatory tightening across India's P2P lending sector.

Last 12 months
2024-08
Product timeline
2018
NDX P2P Private Limited incorporated and received RBI registration as NBFC-P2P lending platform under the name LiquiLoans.· lending
2018
Received seed funding from Matrix Partners and angel investors including Kunal Shah (CRED CEO).· banking
2024
RBI revised Master Directions for NBFC-P2P platforms (August 2024), temporarily disabling certain platform functionalities.· pivot
Regulated entities
1
regulatory licence held by Liqui Loans
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Liqui Loans’s embedded-finance stack
Lending
NDX P2P Private Limited (in-house)Personal Loan (from 11% p.a.)Deposit FinancingWedding LoanVacation LoanCredit Card Payment LoanDebt Consolidation LoanVehicle LoanEducation LoanInvest in Loans (lender-side investment product)
Accounting gap: minor