Enabling financial freedom for Bharat.

They are focusing to improve credit availability for users from tier-2 and tier-3 cities. Currently, lower and mid-income segment groups don't have access to high-quality financial services, because of low ticket size and non-focus group for Banks. They believe by leveraging technology we could build a self-serve system that could deliver a great experience while ensuring we capture sufficient data points for underwriting credits.

Their first credit product is Gold loans.

Currently, 65% of the $130 Bn gold loan market is unorganized (bypass regulations) and managed by pawnbrokers, money lenders, jewelers, etc. In the unorganized market, customers are exploited frequently with high-interest rates (>30%).

They are building a technology and operations layer, which enables jewelers and pawnbrokers to work with multiple Banks and convert the unorganized business into an organized one with just an app. This will also reduce the interest rates charged to end customers while improving the customer experience.