The startup operates an online platform that utilizes a proprietary machine learning-based credit decision model to provide unsecured personal loans to under-prime and near-prime salaried individuals. By streamlining the loan application process through its website and application, the company enables quick access to financing for customers who may struggle to obtain credit through traditional channels.
Funding
$82.3M 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
Many salaried individuals with under-prime or near-prime credit scores face challenges in accessing unsecured personal loans through traditional banking channels due to stringent eligibility criteria and lengthy approval processes. This lack of access to formal credit can hinder their ability to meet immediate financial needs or pursue personal goals.
Solution
VIVIFI India Finance provides a suite of AI-driven, customized loan products designed to address the financial needs of both prime and non-prime salaried individuals and MSMEs. Through its digital lending platform, VIVIFI offers quick access to personal emergency lines of credit and installment loans, with flexible repayment options and transparent terms. The company's proprietary loan management system, LENDEZ.AI, enables efficient risk assessment and personalized loan offerings, extending financial inclusion to underserved segments. VIVIFI's product suite includes FlexSalary, a personal emergency line of credit; FlexPay and FlexPay Loan, instant credit apps offering personal loans; and Udyam Flex Loan, tailored loan solutions for MSMEs.
Target Audience
VIVIFI serves under-prime and near-prime salaried individuals seeking personal loans, as well as MSMEs requiring business loans to fuel growth, including kirana store owners and mid-sized enterprises in sectors like textiles, manufacturing, and retail.
Features
- AI-driven loan management system (LENDEZ.AI) for instant loan approval and eligibility calculation
- Unsecured personal loans up to ₹3,00,000 for salaried individuals and ₹10,00,000 for MSMEs
- Flexible repayment options, including part payments and prepayment without penalties
- Transparent loan process with clear disclosure of all associated costs
- Digital application process via website and mobile apps (FlexSalary, FlexPay, FlexPay Loan, Udyam Flex Loan)
- Electronic Bank Verification (EBV) feature for instant approval
- Integration with sourcing partners like Namma Yatri, Rapido and Uber for loan access
- Customer support available via phone and email