HappyEMI

HappyEMI, operating under the legal name HyperKonnect Technologies Private Limited, is a consumer finance company based in Bengaluru, India. Founded in 2015 by Suhas Gopinath and Anmol Vij, the firm provides instant financing to shoppers at the point-of-sale for both online and in-store purchases. Suhas Gopinath, the CEO, is a serial entrepreneur who gained recognition for starting his first company at age 14 and was later named a Young Global Leader by the World Economic Forum. This background in technology and entrepreneurship underpins the company's approach to consumer lending.

The company's core service is a digital lending platform that enables consumers to make purchases and pay for them in installments, functioning without paper documentation or direct human intervention. HappyEMI targets a broad consumer base by employing a data-driven risk underwriting model that looks beyond traditional credit scores, incorporating alternative data points to assess creditworthiness. This allows it to serve customers in Tier-II and Tier-III cities, aiming to improve financial inclusion for underserved populations.

HappyEMI's business model generates revenue through two primary streams: subvention fees from manufacturing and retail partners and financing charges from consumers. For its retail partners in sectors like mobile phones, consumer durables, and home improvement, the platform helps to increase sales conversion and average transaction values. Since its inception, the company has secured approximately $1.71 million in funding over four rounds from investors including AJ Ventures, Kairos, and K50 Ventures. The initial funding round occurred in December 2015, with a significant seed round of $1 million in August 2018.

Keywords: consumer finance, point-of-sale financing, fintech, digital lending, installment payments, buy now pay later, purchase financing, merchant partnerships, credit underwriting, alternative data, financial inclusion, Suhas Gopinath, Anmol Vij, HyperKonnect Technologies, Indian fintech, retail finance, e-commerce financing, personal loans, in-store finance, mobile financing