Vartis Platforms, the parent company of peer-to-peer lending startup LenDenClub, has launched UdhaarSaathi, a digital marketplace for small business loans. The platform facilitates collateral-free credit for merchants, including street vendors, pharmacies, and kirana stores, connecting them with non-banking financial companies.
February 2024
The company launched the initial version of UdhaarSaathi. It functions as a lending service provider, using merchants’ transaction and banking data with their consent to assist partners with credit assessments. Vartis does not assume credit risk for the loans issued through this platform.
Recent Months
Vartis released the final version of the platform. According to founder Bhavin Patel, the service offers loans between ₹15,000 and ₹2.5 lakh, with an average ticket size of approximately ₹1 lakh. The platform is currently most active in West India, followed by the South, East, and North regions. The company intends to release a regional breakdown of its customer base by December.
FY2027
Vartis aims to facilitate ₹1,000 crore in loan disbursements through UdhaarSaathi by the end of this fiscal year. This expansion coincides with the company’s internal preparations for a potential initial public offering. Patel stated that Vartis is focusing on governance and operational readiness over the next 12 to 18 months rather than an immediate listing.
Current Financial Position
Vartis reported a net profit of ₹96.2 crore for FY26, a 183% increase from the previous year. Operating revenue reached ₹338 crore, up from ₹236.4 crore in FY25. The company, founded in 2015 by Bhavin Patel and Dipesh Karki, also operates the personal loan platform InstaMoney and the technology platform Vartis One.
Why it matters: This launch represents a strategic pivot for Vartis into the small business credit sector, moving beyond its established individual lending portfolio. For financial markets, the company’s sustained profitability and expansion into merchant lending provide insight into how Indian fintech firms are adjusting their business models following regulatory scrutiny of the peer-to-peer sector.