A brainchild of angel investor Aditya Damani, Credit Fair is a B2B2C Fintech lending startup.
CreditFair offers lending solutions to both businesses and private individuals at 0% or low cost, unsecured loan options even at the point of sale. It facilitates niche segments such as home furniture buying alongside conventional lending products. CRedit Fair offers loans in Electronic Vehicles, Education, patience financing,( elective treatment ). They have recently raised $15mil from two angel investors, aiming to expand their operations in smaller cities as well as enhance the technicality for better and robust processing. They have been able to manage to keep their NPA below 1.5% last year due to their strict due diligence and process.
About Aditya Damani –Aditya Damani is the founder of India’s emerging 360olending platform Credit Fair and one of the directors of KM Global Finance Services Pvt. Ltd., exclusively leading its angel portfolio domain. Considered as an astute young mind of India’s thriving start-up-focused investment sector, Aditya already has prominent start-ups such as Fynd (acquired by Reliance Industries Limited) and Zoomcar (Backed by Mahindra, Ford, and Sequoia) in his rapidly growing portfolio. (https://www.linkedin.com/in/adityadamani/)
Aditya started his career as a summer intern in Credit Suisse in New York, later he went to join POIMCO as an sr account associate andserviced institutional clients with over $20b in assets invested across bonds, equities,emerging markets, hedge funds, distressed funds, currencies, and commodities. He hasextensive experience in investment research, launching ventures, and building teams. He enjoys identifying investment opportunities and supporting entrepreneurs in their growth plans.Previously he has advised hyper-growth ventures in UK and India as an investment banker across B2B, data analytics, payments, and banking sectors.
It all started with an urge to solve the basic problem –
💸 how to finance aspirations that are critical!!!
💸 how to get loans with low credit score?
CREDIT FAIR is also helping the Merchant partners increase their sales by 25% (as per 2021 interview).
30% Borrowers have seen a jump by 200 points through CREDIT FAIR (as per 2021 interview).
💸 Mission is to help over 1M Indians to move up the credit Ladder by 2025.
💸 Vision: Every Indian gets the right credit at the right cost at the right time.
💸 Loves to on solutions rather than the problem.
There are more than half a billion Indians who can’t avail to loans due to their low credit score.
Different Challenges that he faced:
💸 Getting the right people onboard
💸 How to enter into Home Improvement Market
💸 Studying the Market carefully, gave him clarity by making him revisit his assumptions that were made earlier.
💸 Creating the space in Healthcare and Education Sector with their product.
What is the USP of CREDIT FAIR?
💸 Higher Approval Rate
💸 Higher Turn Around Time
💸 Unique Risk Management System
💸 Capital Raising Ability
With their excellent google ratings based on the reviews, Aditya shares with us how to maintain an excellent customer service through engagements.
We also discussed on how the fintech industry has changed pre and post pandemic and also how the Indian Fintech employment Market has evolved over the years.
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