FincFriends

FincFriends Private Limited operates as a non-banking financial company (NBFC) registered with the Reserve Bank of India, targeting the significant demand for accessible credit in India. Established in 2017, the company focuses on providing unsecured personal loans to individuals who are largely underserved by traditional banking institutions, particularly in Tier 2 and Tier 3 cities. The founders include Jitin Bhasin, Abhishek Bajaj, Dmitry Kobzar, and Nikolay Zubtsov.

The company's business model is centered around its partnership with the digital lending platform, RupeeRedee, which acts as its primary channel for loan origination and disbursement. This strategic relationship allows FincFriends to utilize a fully digital, secure, and paperless process for its services. Revenue is generated from the interest and fees charged on the personal loans it provides. The company leverages technology, including AI and data analytics through RupeeRedee, for real-time credit underwriting, which enables it to serve customers with low income, insufficient proof of income, or a low credit score.

FincFriends offers short-term personal loans through a completely online application process that facilitates instant disbursement to the borrower's bank account. A key feature of its service is the use of alternative data for credit scoring, allowing it to provide collateral-free loans to new-to-credit users. Initially capping loans at ₹30,000, the company has worked to increase its loan limits to provide customers with greater financial flexibility. The firm has successfully raised significant capital through multiple debt and equity funding rounds to expand its credit portfolio and enhance its technological infrastructure. Recent funding is earmarked for scaling its loan book, introducing new tailored credit products, and expanding its reach in underserved regions across India.

Keywords: NBFC, digital lending, personal loans, financial inclusion, unsecured loans, fintech India, consumer lending, credit access, Tier 2 cities, Tier 3 cities, RupeeRedee, online loans, short-term credit, alternative credit scoring, real-time underwriting, debt financing, financial services, Gurugram, emerging markets, micro-lending