Eqaro offers guarantees in lieu of collaterals and cash on behalf of individuals, entrepreneurs and businesses, recognising their inherent, fundamental strengths and capabilities. The company aspires to create a comprehensive ecosystem of trust that de-risks transactions, helping individuals and businesses unlock their true growth potential. Led by a seasoned best of breed management team with an oversight from a robust governance framework and backed by the financial strength and underwriting expertise of global marquee majors, Eqaro currently offers multiple solutions that are approved and accepted by a diverse set of beneficiaries including MNC's, automobile companies, leading NBFC's, Co-living operators, Property management companies, individual landlords etc.
Startup Description
We pioneered the idea of Surety Guarantees in India. We believe everyone deserves access to affordable, hassle-free experiences to achieve their goals. Whether you're moving into a new space, renting out your house, or expanding your business, we'll be the bridge between your goals and reality.
Founded in Costa Rica in 2004, ION started with US $55 million in assets and now holds over US $175 million. Registered in the U.S. and Costa Rica, with offices in Costa Rica, the U.S., and Greece, ION is rated “5A” by Dunn & Bradstreet. Specializing in Marine Hull, Aviation, Fire & Allied Perils, Residual Value, Rental Default, and Financial Guarantees, ION was established to fill coverage gaps for businesses facing challenges with mainstream insurers. Today, ION is a trusted security provider for Sovereign Governments, financial institutions, and insurers worldwide.
Product Screenshots
Business Model
The surety issued by EQARO is a contract of guarantee to mean a contract to perform the promise, or discharge the liability, of a third person in case of his default.
The Indian Contract Act, recognizes the concept of a contract of guarantee.
The "business of guaranteeing" is considered by the RBI as a part of the "business of financial services”
Eqaro need not register itself as an NBFC with RBI under section 45 - IA of the RBI Act
The RBI Master Circular on Guarantees and Co Acceptances provides that facilities which are in the nature of guarantees are not regarded as Loan and Advances
The RBI Master Directions permits a non-resident entity to guarantee fund based and non-fund based obligations of a resident entity to another resident entity
Customers
based in
India
Business
Modal Type
Marketplace
Type of
Sales
B2B, B2C
Competitors
Alphasights, Creditas Solutions, Fundbox, Paychex:
These companies operate in related fields (market intelligence, fintech, etc.) and may offer solutions that address some of the same needs as Eqaro, albeit with different approaches.
Equiom Group:
This company is also mentioned in the context of similar solutions, further suggesting a broader landscape of players in this space.
Teams
Alok Perti
Chairman & Director
Malay Mukherjee
Director
Vikas Balia
Director
Chetan Thakkar
Senior Director
Himanshu Gupta
Business Head
Deepak Sawhney
Business Head
Sanjoy Sur
Head – Risk
Tell us a bit about how founding team knows
each other.
Execution capability led by experience-rich Leadership and Independent Directors – well poised to capitalize first mover advantage in the Indian Financial Guarantee Industry
Are all the founders full-time on this
project?
No
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