Byaj Book connects lenders with borrowers in India through a platform that employs data-driven risk assessment tools to evaluate creditworthiness. This approach addresses the credit gap faced by underserved individuals and small businesses, facilitating access to affordable financing.
Funding
$170K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
In India, many lenders operate informally, lacking digital tools to efficiently manage credit transactions, track debt collection, and calculate interest, leading to inefficiencies and potential inaccuracies. This particularly affects lenders in rural areas who often serve individuals and small businesses with limited access to formal credit.
Solution
Byaj Book provides a mobile and desktop application designed to help lenders in India digitize and streamline their lending operations. The platform offers tools for managing credit transactions, automating payment reminders, and generating financial reports. It simplifies interest calculations and provides data encryption and automatic backups to ensure data security. Byaj Book aims to bridge the credit gap in rural India by making lending simpler and faster for lenders, enabling them to extend credit to more people.
Target Audience
The primary target audience includes lenders in rural India, such as jewelry shops, mobile recharge and electronics repair shops, Kirana stores, and finance firms, as well as individuals who lend money to others.
Features
- Digital ledger for recording and managing credit transactions
- Automated payment reminders to facilitate timely debt collection
- Free interest calculator for simplified interest calculations
- Generation of financial reports for insights into lending activities
- Multi-device access, enabling users to manage accounts from anywhere
- Staff collaboration features for team-based lending businesses
- Data encryption and automatic backups for data protection and security
- Support for multiple languages, including English, Hindi, and other regional languages
- Digital Gold investments
- Security lock feature
- Offline mode