The startup develops a digital lending application that utilizes artificial intelligence and machine learning for customer risk profiling, specifically targeting retail consumers seeking small loans with EMI payment options. By partnering with financial institutions and non-banking financial companies, the platform enables users to build their credit profiles and improve their credit scores.
Funding
$126.7M 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 retail consumers in India lack access to credit cards and formal financing options due to insufficient credit history, hindering their ability to make purchases, especially for larger ticket items or during financial constraints. This limits their purchasing power and access to goods and services that could improve their quality of life.
Solution
The company provides a digital lending platform that enables retail consumers to shop on EMI (Equated Monthly Installments) without needing a credit card. Through partnerships with financial institutions and non-banking financial companies (NBFCs), the platform offers personalized credit limits that can be used across a wide network of online and offline stores. Users can download the mobile app, complete their profile and KYC (Know Your Customer) verification, and set up automatic repayments to activate their credit line. This allows them to make purchases immediately and pay over time in manageable installments, building their credit profile in the process.
Target Audience
The primary target audience is retail consumers in India, particularly those without credit cards or sufficient credit history, who seek convenient and affordable EMI options for online and offline shopping.
Features
- Mobile application for credit assessment, KYC verification, and EMI management
- AI/ML-driven risk profiling for personalized credit limit assignment
- Integration with 15,000+ online stores and 75,000+ physical retail locations
- EMI payment options spanning 3, 6, 9, or 12 months
- Automated EMI deductions via NACH/eNACH mandate
- Real-time credit limit tracking and spending analytics
- Partnership network including Myntra, Flipkart, Amazon, Ease My Trip and MakeMyTrip
- Customer support via FAQs, email, and phone