Dipesh Karki, born and raised in Biratnagar, Nepal, has made a remarkable journey from his hometown to becoming a co-founder of one of India’s largest Peer-to-Peer (P2P) lending platforms, Lenden Club. Alongside his Indian counterpart, Bhavin Patel, Karki established Lenden Club in 2015, which now facilitates transactions exceeding INR 4.5 billion monthly and serves over 30 million customers.

Karki’s academic and professional journey began in Nepal, where he completed his secondary education. He later received a scholarship from the Indian Embassy to pursue higher education in India. In 2007, he joined the National Institute of Technology (NIT) Haryana to study engineering, graduating in 2011. After a brief stint in New Delhi, Karki returned to Nepal in 2012, but the lack of opportunities prompted him to head back to India, where he ventured into entrepreneurship.

The Birth of ‘Lenden Club’

Initially collaborating with college peers, Karki developed and sold a software solution, PipeISO, designed for industrial engineering needs, including power plants and fighter jet production. Despite its success, Karki sought new horizons, eventually co-founding Lenden Club with Bhavin Patel in Mumbai. The platform was born out of a shared vision to address the inefficiencies and high-interest practices in informal lending markets.

“Our goal was to formalize the unregulated borrowing and lending sector in India,” shares Karki. Despite initial challenges in convincing clients and navigating regulatory frameworks, Lenden Club gained traction with the support of the Reserve Bank of India’s regulatory guidelines in 2017. Today, it stands as India’s leading P2P lending company, bridging gaps in financial accessibility.

Overcoming Challenges and Achieving Growth

Reflecting on the journey, Karki highlights the challenges of changing mindsets in a largely cash-driven economy. The initial lack of economic stability and trust among customers were significant hurdles. However, consistent efforts, coupled with India’s shift towards digital payments, helped Lenden Club thrive.

The platform now serves a diverse clientele across India, providing affordable loans while ensuring transparency and trust. With over 30 million lifetime users, the company handles monthly transactions exceeding INR 4.5 billion, a testament to its growing influence.

Future Plans and Nepal’s Prospects

Karki envisions expanding Lenden Club across South Asia, including Nepal, Bangladesh, and Sri Lanka. He emphasizes the potential of P2P lending in Nepal, which remains untapped. “I am ready to assist Nepal in implementing a similar model, and discussions with Nepal Rastra Bank have already begun,” he says.

Lessons from India for Nepal

Drawing from his entrepreneurial experience, Karki urges Nepal to adopt India’s entrepreneurial culture, emphasizing respect for innovation and a conducive environment for startups. “India’s ‘live and let live’ philosophy fosters collaboration and growth,” he notes.

Message to Aspiring Entrepreneurs

Karki’s story exemplifies resilience and focus. “Innovation and quality are key. Stay dedicated to one project at a time for success,” he advises. His disciplined approach has propelled Lenden Club from its inception to becoming a key player in India’s financial ecosystem.

With his roots firmly in Nepal, Karki continues to inspire and contribute to his homeland, proving that visionary leadership transcends borders.