Neowise Technologies partners with Kalandri Capital to co-create a line of credit for young professionals
Neowise Technologies (BusinessWire India)
Business Wire IndiaNeowise Technologies, aspiring to be a credit company digital banking platform co-founded by Rohit Ramachandran and Siddarth Padmanabhan, recently associated with Kalandri Capital Pvt. Ltd, an RBI licensed NBFC. Neowise Technologies, a credit and payment startup mainly aimed at young professionals (employee, self-employed, self-employed), a built a promising product on three fundamental pillars: Paperless account opening, transparent transaction processing and easy credit options.
Digital lending continues to experience massive growth in India, driven by technological advancements, the growing penetration of smartphones, and the proliferation of financial and transactional data that has enabled fintech companies to create unique lending models. One of the fastest growing fintech sectors, lending is expected to hit the $ 1 billion mark in the near future. Despite this, a significant portion of the population is still excluded from the credit market simply because they do not have enough data or have no credit history.
To bridge this gap, Neowise is primarily aimed at people who have recently started their professional career path, for whom access to credit is an obstacle due to the absence OR a low credit score. A good credit score is a prerequisite for being able to acquire credit, and one must first access credit and establish a repayment history in order to achieve a credit score, a catch 22 situation.
“Our goal through the alliance with Kalandri Capital is to make credit available (a line of credit of up to ₹ 50,000) using proof of constant income as the primary basis, as opposed to credit score, at really affordable prices for young professionals. In addition, our young clientele can expect seamless and instant registration – a fully digital neowise money account that will be set up in minutes; access to credit in real time; switch from credit score based loans to income based loans; interoperable instruments that can be used on all channels (ATM, POS, ECOMM) and / or to make bank transfers (UPI, IMPS, etc.); with a simple and transparent pricing structure,”Said, Rohit Ramachandran, co-founder and CEO, Neowise Technologies.
Siddarth Padmanabhan, Co-Founder and CRO, Neowise Technologies, highlights the product offering, said: “By using the Neowise Money Card – Rupay, the user will be able to load funds and use the card on all channels. (POS, Ecomm, ATM, etc.). In addition, they will receive card control parameters and other transaction information to improve the overall experience. And to top it off, we will provide all users of our platform with a line of credit that can be loaded onto the Neowise card with a single click if they run out of funds with a payback period ranging from 30 to 365 days. .
With the recent ad and what’s next for the future, said Akshay Shah, CEO and Director of Kalandri Capital Private Limited: “We are delighted to have partnered with Neowise Technologies and look forward to a fruitful collaboration. One of our main goals is to enable disruptive fintechs like Neowise to unlock new digital credit opportunities in India. Kalandri and Neowise will continue to work in tandem to organize other innovative and profitable credit instruments for clients on board the platform. “
About Neowise Technologies
Neowise Technologies was founded in August 2020 by Rohit Ramachandran & Siddarth Padmanabhan, a Mumbai-based fintech specializing in creating the first digital banking solutions for young people at the start of their careers.
About Kalandri Capital Pvt. Ltd.
Kalandri Capital is a leading new era digital lender founded in 2019. We leverage technology and innovation to deliver the ultimate lending experience for businesses. As a member of the larger RK Group (an e-commerce company with an annual turnover of over $ 1 billion), Kalandri Capital is backed by more than 30 years of business acumen, integrity and financial expertise. We work with the current generation of innovation-driven companies and start-ups.