Loanzen

Loanzen is a financial services startup headquartered in Bengaluru, specializing in providing financial solutions to the logistics industry. The company primarily serves purchasers of used commercial vehicles, including operators of small CV fleets and first-time buyers. Loanzen uses proprietary underwriting processes based on alternative data sources to assess creditworthiness, enabling them to offer competitive interest rates. The company aims to support over 15,000 customers within the next three to five years and is currently expanding its services from Karnataka to other states in South India.

Loanzen's business model revolves around offering loans to logistics operators, who use these funds to purchase used commercial vehicles. The company generates revenue through the interest charged on these loans. By automating the loan repayment process through bank deductions, Loanzen ensures timely payments and reduces the risk of defaults. The startup has already made a significant impact by helping clients like Muthu and Paresappa, who use their vehicles to transport goods from farms to markets, thereby supporting their families and local economies.

Keywords: logistics financing, used commercial vehicles, low-interest loans, small fleet operators, proprietary underwriting, alternative data, Karnataka, South India expansion, automated repayments, financial solutions.