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5 promising FinTech start-ups to keep an eye on in 2022

By Leandra Monteiro

January 11, 2022

  • BNPL
  • Cashe
  • Digital Lending
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FinTechs, Loans, After almost two years the world is looking up, with some companies have taken the pandemic in their stride. Here’s a watchlist of five promising and exciting FinTech companies to look out for in 2022:

A homegrown digital lender, LoanTap has recently announced its debt listing with BSE and raised more than 100 crores. As a digital lending FinTech firm with two in-house NBFCs that entered the lending industry only in 2016, they have successfully managed to grow their AUM and disbursed more than INR 700 crore so far.

LoanTap introduced LT-FLoW, an embedded finance platform designed by LoanTap that helps product and service companies to marry new age and traditional lenders. Through this platform established firms can benefit from the technology of new-age companies and the latter can tap into the broader consumer base of the established firms.

LoanTap has been prioritizing gaining 100% financial inclusion and has been taking all the necessary steps towards it, by introducing credit facilities for SMEs, Kirana Stores, Electric Two-Wheeler, etc.  While the company did collaborate with the Bank of Maharashtra for co-lending, and to leverage the BNPL customer segment, they also launched LIMITLESS Cards, a credit-line backed card, for their customers to easily avail credit.

EarlySalary is a one-stop credit solution that is committed to serve all the possible credit requirements of a salaried individual. EarlySalary operates with a fully digitised and instant decision-making system which allows you to borrow in minutes rather than in days. The company has already disbursed nearly 2 million loans.

Having started only 5 years ago, EarlySalary is a FinTech start-up that is today one of the most preferred segments in the country. They were the first company that introduced the concept of instant digital Salary Advance for the first time in the country. Today, while they are leaders in the digital salary advance and instant loans space, they have also integrated EarlySalary Financial Wellness Service that focuses on company employees or the blue-collar/entry-level workers to create a financial cushion in times of need.

Also, with a special focus on Education and Skill upgradation EarlySalary has introduced education loans on the app. EarlySalary have more than 10 million app downloads along with 80% of the customers repeating with them. Data-driven decisions and technology are the two most important pillars that helped EarlySalary drive the business at this scale.

KreditBee is India’s fastest FinTech Loan Platform that offers instant personal loans to salaried and self-employed individuals, where they can avail loans up to ₹2 lakhs as per their requirement. With a strong focus on online tech-based and data-centric KYC, KreditBee envisions solving the financial inclusion gap in the varied demographic segments of the country.

The platform is backed by a Systemically Important NBFC Krazybee Services Private Limited, registered with RBI since May 2017, as well as various debt & platform partners. KreditBee is a brand of Finnovation Tech Solutions Pvt Ltd and is currently a Series-C funded entity with a cumulative fundraise of over USD 200 Million. It is backed by some key VC firms and investment entities like Azim Premji’s Premji Invest, Motilal Oswal Private Equity, TPG-backed NewQuest, South Korea’s Mirae Asset Venture, and US-based Alpine Capital.

If there was one company in the list whose focus was the undeserved or side-lined sections of society whose financial needs are unmet, then it has to be CASHe. CASHe is India’s leading FinTech lending platform that offers a full spectrum of consumer financing products and services designed to help salaried millennials avail affordable financial services such as short-term personal loans, Buy Now Pay Later (BNPL) and Credit Line services.

Since 2017, CASHe has been helping the undeserved sections of the country by providing them easy and affordable access to credit that helps them get on with their lives with dignity. CASHe are headquartered in Mumbai and have disbursed loans worth over INR 2,800 crores to over 3 lakh customers. Starting as a personal loan app which has been downloaded over 15 million times, CASHe is now a full-fledged financial services platform that offers its customers with credit, insurance and EMI shopping.

Kissht is a digitally-enabled platform operated by ONEMi Technology Solutions Private Limited with a vision to provide speedy and hassle-free credit financing to its customers across India. Empowering their customers is their primary focus and that has led them to be present across various segments of business like Online Purchase Loan, Personal Loan, and its newest offering – “Revolving Line of Credit.”

Onemi Technologies (Kissht) is engaged in merchant acquisition / tie-ups, development of credit gateway technology, assessing the creditworthiness of the customers. It uses its proprietary software, algorithm, and credit marketplace platform for provisioning instant consumer loans through its financing partners. However, the entire credit assessment, KYC processing, credit approval, financing of consumer loans for the purchase of goods and services from online and offline channels is taken care by RBI-registered NBFCs tied up with Kissht.

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