Vartis Platforms, the parent company of peer-to-peer lending startup LenDenClub, has launched UdhaarSaathi, a digital loan marketplace targeting small retailers and merchants. The company aims to facilitate Rs 1,000 crore in loan disbursements through the platform by the end of FY27.
Founded by Bhavin Patel and Dipesh Karki, Vartis is extending its lending service provider (LSP) business beyond individual borrowers to small businesses such as kirana stores, pharmacies and street vendors.
UdhaarSaathi will facilitate collateral-free business loans ranging from Rs 15,000 to Rs 2.5 lakh, with an average ticket size of approximately Rs 1 lakh. The loans will be provided through partner non-banking financial companies (NBFCs).
UdhaarSaathi Connects Small Merchants With NBFCs
The platform uses merchants’ banking and business transaction data, shared with their consent, to support credit assessment by lending partners.
Vartis operates UdhaarSaathi as a loan marketplace and LSP rather than as the lender. It connects borrowers with multiple NBFCs and does not take the credit risk on loans facilitated through the platform. Lending decisions and associated credit exposure remain with the lending partners.
The platform's first version went live in February, followed by its final version a few months later. West India currently contributes the largest share of its customers, followed by South, East and North India.
UdhaarSaathi is Vartis’ second LSP platform after InstaMoney, which launched in 2017 and focuses on individuals seeking small-ticket loans. The new platform extends the company's reach into merchant working capital requirements. Vartis earns fees when repayments are processed through its platforms.
Vartis Targets IPO Readiness Within 12-18 Months
The launch comes as Vartis prepares its internal operations and governance for a potential public listing.
Patel said that the company is targeting IPO readiness over the next 12-18 months, but has not set a listing date. The proposed offering could include an offer for sale (OFS), as the company currently sees no immediate need for fresh capital. A primary issue may be considered if a suitable business opportunity or expansion requirement emerges.
Profit Jumps 183% to ₹96.2 Cr in FY26
Vartis reported a net profit of Rs 96.2 crore in FY26, up 183% from Rs 34 crore in FY25. Operating revenue increased 43% to ₹338 crore from ₹236.4 crore, while total revenue, including interest and other income, reached ₹366.6 crore.
The company also processed transactions worth nearly Rs 5,000 crore in FY26, compared with approximately Rs 1,600-1,700 crore in the previous fiscal year.
The merchant lending expansion gives Vartis another customer segment to serve through its existing lending infrastructure. Its Rs 1,000 crore disbursement ambition will depend on merchant acquisition, lending-partner capacity and the quality of credit assessments. Since Vartis does not bear the loan risk, its business economics will depend largely on transaction volumes and the fees generated through the platform.
