LenDenClub, a peer-to-peer (P2P) lending platform, on Tuesday said it will be launching a venture fund to back fintech startups in seed and pre-Series A stage.

The ‘LenDenClub Alpha’ fund aims to onboard early-stage startups, while offering them mentorship and access to capital thereby enabling them to accelerate their growth.

The company will allocate up to $2-3 million, with an aim to back around 20-25 startups, it said in a statement.

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