LenDenClub Parent Vartis Platforms Launches UdhaarSaathi For Small Business Loans

Peer-to-peer (P2P) lending startup LenDenClub’s parent Vartis Platforms has launched UdhaarSaathi, a digital loan marketplace for small businesses, expanding its lending service provider (LSP) portfolio.

Speaking to Inc42, Vartis founder Bhavin Patel said the platform caters to kirana stores, pharmacies, street vendors, and other small retailers, facilitating collateral-free business loans ranging from ₹15,000 to ₹2.5 Lakh.

With an average loan ticket size of around ₹1 Lakh, Vartis aims to facilitate ₹1,000 Cr in disbursements through UdhaarSaathi by the end of FY27.

The launch comes amid Vartis’ internal preparations for a potential IPO, including strengthening governance across its platforms. Patel said that the company is targeting readiness over the next 12-18 months rather than a listing within that period.

“There is no timeline as yet. The next 12 to 18 months is what we are targeting to prepare ourselves,” Patel said. 

The IPO could comprise an offer for sale (OFS), with Vartis currently seeing no need to raise primary capital. However, it may consider a fresh issue to fund a business opportunity or expansion, he added.

Bringing Credit To Retailers

UdhaarSaathi uses merchants’ banking and business transaction data, shared with their consent, to support credit assessment by its lending partners.

It operates as an LSP and loan marketplace, facilitating credit through multiple NBFCs. Vartis does not take credit risk on loans facilitated through the platform. 

The platform’s first version went live in February, followed by the final version a couple of months ago. West India currently accounts for its largest customer share, followed by the South, East, and North, Patel said. The company expects to share a detailed regional breakdown by December.

UdhaarSaathi is Vartis’ second LSP platform after InstaMoney, which launched in 2017 and primarily serves individuals seeking small-ticket emergency loans. UdhaarSaathi extends this business to merchants seeking working capital. 

Vartis earns fees when repayments are processed through either platform, Patel said.

Founded in 2015 by Patel and Dipesh Karki, Vartis also operates lending technology platform Vartis One.

On the financial front, Vartis’ net profit rose 183% to ₹96.2 Cr in FY26 from ₹34 Cr in FY25. This marked its second consecutive profitable fiscal following a net loss of ₹10.6 Cr in FY24 after the RBI’s crackdown on the P2P lending sector. 

Operating revenue grew 43% to ₹338 Cr from ₹236.4 Cr in FY25. Including interest and other income, total revenue stood at ₹366.6 Cr in FY26. 

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