Credit Fair, a B2B2C lending focused fintech start-up, offers loan solutions at the point-of-sale to businesses and consumers at No cost or Easy EMIs. Founded with a vision to build a credit ladder for 550 million underserved Indians, Credit Fair is marching ahead by becoming a leader in rooftop solar financing and helping generate crores in electricity bill savings.
Startup Description
Founded in 2018 by Aditya Damani & HQ in Mumbai. Credit Fair, is an embedded credit Fintech startup, focusing on lending to consumers and business. It helps connecting low-cost capital to deserving borrowers sourced at the point of sale. It’s a RBI registered NBFC and has secured a license for peer to peer (P2P) lending from the central bank. Credit Fair has a unique mix of “Fin” and “Tech”, RBI regulated from Day 0 and has secured license for P2P lending from RBI. It has a proven track record of penetrating new segments:
1) Solar: On track for 25%+ portfolio share with 8x growth in monthly sancitons. NPA below 0.2%.
2) Education: Grew from 5% to 45% of disbursal during Covid pandemic and maintained 1% NPA.
3)MSME: Channel finance to solar installers & exposure via partnership with Fintech. Zero NPA. It top partners include Tata Power Solar, Scaler, TalentEdge, Solar square, Imarticus learning, Redington. Currently managing INR 260CR AUM.
Clocking an ARR of INR 40CR at PAT of 19% and by FY27E they will clock around INR 541.9CR revenues and PAT of INR 191.3CR (PAT of 35%). Backed by LC Nueva Investment Partners, Capital A, Sattva Family Office, Nitesh Damani of Khel Group, and Nikhil Chandra Gupta, Anand Ladsariya, Neeraj Goenka, and Alok Agarwal. InCred Finance, Vivriti Capital, and Caspian Impact.
Product Screenshots
Business Model
Credit Fair follows a B2B2C business model. It is offering a win-win proposition to both merchants and customers by providing 0% or low-cost, short term, unsecured installment loans at the point of sale. The interest costs of these loans are borne by the merchants to attract new customers while the borrowers seek installment facilities to manage their finances. In addition, the borrowers bear a nominal processing fee and in some cases insurance fee as well.
Customers
based in
India
Business
Modal Type
Marketplace
Type of
Sales
B2B2C
Competitors
1) Liquiloans
2) Ecofy
3) Fibe
4) Propelld
Teams
Aditya Damani
Founder & CEO
Vikas Agarwal
Co-Founder & CBO
Are all the founders full-time on this
project?
Yes
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