If you’re a millennial, you might already have an idea about how hard it is going to be in the future. From education loans to business loans, the journey is a long one. While your predecessors are working hard to get out of debt, here are a few Fintechs that are helping you grow financially and are also looking after your financial needs. These 5 fintech startups educate you financially, help you understand finances and support you in your journey!
Vivifi
Vivifi is a RBI-certified non-banking finance company (NBFC) enabling easier and more direct access to credit for customers in India. It offers sachet sized loans to customers who have the ability and intent to repay. Based on the loan repayments of these customers, the company then increases their credit limit to help them improve their credit score and eventually get access to larger loans. The Hyderabad-based company aims to achieve financial inclusion by making credit available for all deserving Indians without any bias, transcending the limits of location, literacy, monthly income and credit history. Their products such as FlexSalary and FlexPay aim to offer Innovative Financial solutions to customers across the Credit Spectrum, leveraging Technology and Data Science.
Upwards
Upwards is a one-stop solution for all credit-wellness needs, particularly for lower-income segments of the society who are unable to avail credit from formal financing institutions. An RBI-registered NBFC, Upwards is committed to making the process of availing loans hassle-free through the incorporation of cutting-edge technology. For lower-income communities across the country, the process of availing loans is lengthy and often in vain. To bridge the credit gap, Upwards offers loans up to INR 2.5 lakhs that are sanctioned within 24 hours to salaried individuals across India. Catering to all sorts of credit needs, – be it salary advances, educational, medical, car down payments, shopping, etc., Upwards is looking to foray into the shopping segment and provide interest-free EMIs in the coming months.
PC Financial
PC Financial Services Private Limited (PCFS) is an RBI registered NBFC operating out of Gurugram; its seminal product, CashBean, is the leading app in India providing unsecured cash-loan through a swift digital system. The FinTech company is a subsidiary of the much larger Opera group that is registered in Nasdaq with head office in Oslo. Based out of Gurugram, PCFS aspires to deliver the most effective platforms for low and middle-income Indians to access credit at the time of their most need. It is the most credible digital lender for Indians as it caters to a wide gamut of personal credit requirements by analysing a borrower’s basic personal information through a highly secure tech stack. The proprietary underwriting and technology behind CashBean work in harmony while expediting loan disbursal in record times.
moneyHOP
moneyHOP is India’s first cross-border Neobank offering full-stack global banking solutions. The Neobank is striving to revolutionise banking for millennials in India and globally. An RBI-authorised Full Fledged Money Changer (FFMC), moneyHOP is working with AD-I license holder bank and has also partnered with VISA to offer an effortless and seamless cross-border banking experience to Indians through its key product – HOPRemit, an instant, secure, cost-effective and paperless remittance solution for India outbound market. It will enable users to remit in four easy steps – select the destination, currency, and amount; complete a digital KYC; add recipient’s details; make the payment online – and the money is on its way within minutes.
FinShell
FinShell provides fast, easy and reliable digital financial services to all android users in India. They currently live with Insurance and investment in Mutual funds and SIPs to provide you with a seamless investment and protection experience. They strongly value people’s data privacy and security and thus aim to provide them with a secure & safe experience. In fact, they take all permissions from users first and then collect their data. Moreover, all the data taken is used only after your permission which users can change any time they want.
