About Rang De
The idea of Rang De was sown in the year 2006, the same year that Professor Muhammad Yunus was awarded the Nobel Peace Prize for his work with Grameen Bank in Bangladesh. The motivation for starting Rang De was the belief that the peer-to-peer lending model could be leveraged to lower the cost of microcredit. Rangde.org went live on 26 January 2008 and this is the belief system that has shaped Rang De.
How Rang De Works
Choose Someone: a farmer, a weaver, a tailor, a student, a dairy farmer…over 1,000 individuals apply for your help and receive loans at the lowest rates possible.
Withdraw or reinvest once your investment returns after making a difference and continue the good work.Make a social investment!
The Spirit of Rang De
We decided on the name Rang De after a lot of thought. The name draws inspiration from India's struggle for independence. We believe that a similar movement with the same kind of urgency is required to address poverty in India. The words 'rang de' also denote colour and exuberance and that is the impact we want our efforts to have on the people we reach out to.
Our vision is to make poverty history in India by reaching out to underserved communities through microcredit. We are striving to do this through a network of committed field partners and social investors, by offering microcredit that has a positive impact on business, education, health and environment of the communities we work with.
Empathy, Creativity, Transparency, Accountability and Tenacity are the core values that guide Rang De's actions. We believe that we are not just a non-profit peer-to-peer lending platform. We are as much about social change as we are to do with technology and as much about investing time as we are about investing money.
What You Should Know
Rang De A Legal Entity
Rang De is registered as a non-profit organisation because we strongly believe that we are on a mission and cannot afford to lose focus. Not wanting to concentrate on the argument about profit or non-profit, our single-minded focus is to ensure that our borrowers pay interest rates that are fair and our social investors get the opportunity to make a meaningful difference to other people's lives.
Our Revenue Model
We believe that we need to be sustainable and scale meaningfully. We get a nominal cut of 2% on all the loans repaid by our borrowers. We believe this will help us in achieving our goals and fulfilling our vision in the long run.