Kosh is a financial services platform that offers joint liability loans up to Rs 2,00,000 for blue-collar workers through a paperless application process, enabling quick access to funds directly in their bank accounts. The platform also features flexible EMIs and a community network that allows users to earn cashback by referring others, addressing the need for affordable credit options in underserved markets.
Funding
$1.8M 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.
1BIIQFounders
Product
Problem
Blue-collar workers often lack access to formal credit channels, facing challenges in securing loans due to limited documentation and credit history. Traditional lending processes can be cumbersome and time-consuming, creating barriers for individuals needing quick access to funds. This lack of access to affordable credit impacts their ability to manage expenses and improve their financial well-being.
Solution
Kosh provides a financial services platform that facilitates joint liability loans for blue-collar workers, offering a streamlined, paperless application process. The platform enables users to access loans up to Rs 2,00,000, disbursed directly to their bank accounts. By leveraging a group lending model, Kosh mitigates risk and extends credit access to individuals who may not qualify for traditional loans. Flexible EMI options and a community network further enhance the platform's value, allowing users to manage repayments conveniently and earn cashback through referrals.
Target Audience
The primary target audience includes blue-collar workers in India who require access to affordable credit for personal or professional needs, particularly those underserved by traditional financial institutions.
Features
- Digital application process with minimal documentation requirements
- Group loan functionality enabling joint liability lending
- Loan amounts ranging from Rs 20,000 to Rs 2,00,000
- Flexible EMI options for convenient repayment scheduling
- Cashback rewards for successful referrals within the community network
- Instant loan disbursal directly to the user's bank account
- Digital statement of accounts for tracking loan details
- Integration with RBI-registered NBFCs (Non-Banking Financial Companies)