Udhaar

lendingcredit scoring

FOUNDING YEAR: 2015
LOCATION: India
Last Update: 01/05/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

Udhaar provides instant digital credit card to the underbanked individuals in India

MEDICI Analysis

Udhaar is a financial inclusion initiative, leverages Aadhaar to provide alternate credit scoring mechanisms for underserved individuals. It gathers data from multiple sources to provide consumer and product insights for retail industry stakeholders to improve their offerings.

Focus

PRODUCTS & SERVICES

Credit scoring and providing consumer and product insights. Provides financial inclusion services for under served individuals using Aadhaar.

REVENUE MODEL

Money from Credit Score/Reports/Insights

EXISTING PARTNERSHIPS

IIM Ahmedabad - Incubated at Centre for Innovation Incubation and Entrepreneurship (CIIE).

PRIMARY PROBLEM SOLVED

Lack of creditworthiness data to expand reach of financial services

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

COMMENT

Data points of individuals from various sources like Social Media, demographics, CIBIL score are used for credit scoring. Also provides recommendation from machine learning and sales analytics to retailers.

People

FOUNDERS

Ravi Sethia

Karan Rao

Saurabh Saxena

NUMBER OF EMPLOYEES

1-10

COMMENT:

We wouldn't say we are the best team to solve the problem, since this space is in nascent stages, it creates a lot of scope for experimentation,innovation. We believe in our vision, approach,back ourselves to tackle the challenges. Though the founding team doesn't have any finance background but we do have expertise in handling data,playing around with it. Akhilesh has been a database administrator at S&P Capital IQ,handling huge amounts of financial data, Ravi has worked with EXL Analytics primarily in Social Media Analytics projects for banking clients. The learning over the time has equipped us a lot as well.

Momentum

FUNDED

NO

DATE OF LAST FUNDING

Apr 2017

LISTED

NO

For Investors

FUNDING NEEDED:

$75 K

USES OF FUNDS RAISED:

1. Pilot Rollout and Initial Product market fit

2. Team for speeding development and integrations

MONTHS LEFT WITH CURRENT CASH BURN RATE:

6 months from 8 Feb, 2018

BASICS

FOUNDING YEAR:

2015

LOCATION:

India

Views:

228 VISITORS | 506 VIEWS
TOTAL EMPLOYEES
1-10

About

Udhaar provides instant digital credit card to the underbanked individuals in India

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

Udhaar is a financial inclusion initiative, leverages Aadhaar to provide alternate credit scoring mechanisms for underserved individuals. It gathers data from multiple sources to provide consumer and product insights for retail industry stakeholders to improve their offerings.

Focus+
Momentum+
People+
For Investors+
Other+

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

Udhaar

About

Udhaar provides instant digital credit card to the underbanked individuals in India

Focus

PRODUCTS & SERVICES

Alternate Credit Scoring Consumer Insights

REVENUE MODEL

Money from Credit Score/Reports/Insights

TOP PROBLEM SOLVED

Lack of creditworthiness data to expand reach of financial services

PRODUCT DEVELOPMENT STAGE

MVP

KEY DIFFERENTIATORS

Offline and Online model which allows to tap a vital data source.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Retailers

Small and Medium Business - Online Retail

Consumer

PRODUCT ATTRIBUTES

SaaS

Customer facing

People

FOUNDERS

Ravi Sethia

Karan Rao

Saurabh Saxena

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO, FOUNDER: Ravi Sethia

CTO: Ravi Sethia

FOUNDER: Karan Rao

FOUNDER: Saurabh Saxena

TEAM COMMENT:

We wouldn't say we are the best team to solve the problem, since this space is in nascent stages, it creates a lot of scope for experimentation,innovation. We believe in our vision, approach,back ourselves to tackle the challenges. Though the founding team doesn't have any finance background but we do have expertise in handling data,playing around with it. Akhilesh has been a database administrator at S&P Capital IQ,handling huge amounts of financial data, Ravi has worked with EXL Analytics primarily in Social Media Analytics projects for banking clients. The learning over the time has equipped us a lot as well.

Momentum

FUNDED

NO

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES