Within weeks, the coronavirus pandemic had taken hold, drastically changing the picture for the online lending industry in Asia. In India there are nearly 500 online lending start-ups, and roughly 160 in Indonesia, many backed by Chinese money. "I think it is only about 20 to 30% of (Indian online lenders) that are well capitalised, and the rest are going to struggle. 70% are staring at an existential crisis," one online lending chief executive said, speaking on condition of anonymity because of the sensitivity of the matter. "The last thing I want to be getting into at the moment is online lending," said one China-based VC investor.

Source: bd News24 June 03, 2020 01:07 UTC