Jobs at 50Fin
Over the last few years, two key problems have haunted Indian investors and borrowers. For small-ticket investors, the age-old problem of losing liquidity by investing in long term securities has disincentivized thousands of young Indians from pursuing their financial goals. This has directed a significant portion of new retail investors, primarily younger investors, to asset classes which are far more volatile like crypto currencies, NFTs and ‘meme stocks’. For borrowers, new fintech players in the instant loan app space have transformed into digital loan sharks. Over 14% of Indians have used instant loan apps in the last 2 years - 58% of them said they have been charged an interest rate over 25% and 16% said they have been charged over 200%. 54% of the same respondents said they have experienced some form of harassment, extortion or data misuse. To solve both of these problems, we are currently building 50fin, a credit platform with a trading terminal that rewards value investors with low interest credit products. So far, the team is working on building the tech stack, gaining necessary approvals and hopes to have the first iteration of the platform ready by October.