What is Monexo?
Monexo Fintech Private Limited is an online peer-to-peer lending marketplace with an aim to bring together screened borrowers and savvy lenders so that both can benefit financially. Its mission to create a simple, fast and convenient alternative to traditional credit services. We assist lenders to achieve better returns by creating their own loan portfolio of screened borrowers. We use technology to lower costs and deliver an incredible experience. This facilitates borrowers in getting competitive interest rates.
How does Monexo work?
The entire process is online, using technology to lower the cost of borrowing and pass the savings back in the form of lower rates for borrowers and solid returns for lenders.
Why is it safe to lend or borrow money online at Monexo's marketplace?
We are 100% committed for providing outstanding products and customer service. During the whole process Monexo has implemented industry best practices for protecting the safety and security of your personal information. For example: we have same level of SSL encryption as used by banks and we send OTP (One-Time Password) when you initiate a transaction on Monexo.
Beyond, Internet security, Monexo is the 1st Indian Online P2P lending marketplace that has implemented Global best practice of appointing TPC (Third Party Company) to be an independent custodian of lender funds. Please also read What is TPC ?
Is my personal/financial information safe with Monexo?
How does Monexo protect personal/financial information?
We take security and privacy seriously.
How can I assure myself that I am connected to Monexo?
Monexo employs the latest internet security measure with the adoption of the EV SSL Certificate (Extended Validation SSL Certificate) which will instantly let you know that you're on a genuine Monexo website.
You will see a change to the URL address bar area at the top of your browser when you visit the secure sessions in the Monexo website (indicated by "https://" at the beginning of the URL). The name of the certificate owner (Monexo Fintech Private Limited) will be displayed either on the URL address bar or near the top of the browser indicating the successful verification of the site's identity.
Is Monexo regulated?
Currently Monexo is not regulated under any financial or banking regulations. Nevertheless, we bring the best practices of Peer-to-Peer lending platforms in international markets in introducing this platform in India. We comply with the Indian Government’s directives against the funding of terrorism and money laundering activities. We obtain, verify, and record information that identify each person opening an account. We also don’t accept any cash transactions and deal only with Indian residents with a PAN, Aadhaar card and Indian bank account.
Is Monexo a money lender?
Monexo is not a registered money lender and does not lend money. Monexo has created a peer-to-peer lending marketplace in which we connect screened borrowers to savvy lenders who are looking for a better returns compared to savings account and fixed deposits.
Is Monexo a collective investment scheme?
No. Monexo is not a collective investment scheme. We do not manage your money. We are a marketplace that offers options for lenders to build their loan portfolio based on the calculated risk they are willing to take while lending money individually to borrowers. We bring the best practices of peer-to-peer lending from the international market.
What are the advantages of using an online marketplace?
Monexo Online Marketplace brings 3 key advantages to you:
How does customer service work with an online marketplace?
Monexo is an online platform with all the information available at your finger tips 24/7. However, if you still need to connect with us, we are happy to serve you on:
At Monexo, “Customer Service is NOT a department, its an attitude”
Where can I find legal terms and policies?
At every stage of the online process, we display the legal terms and conditions which should be read carefully before making any decision.