Digital Savings Groups (chit funds) to save, borrow and earn returns with verified peer11-50 Employees
Finlok careers
Finlok is a fintech platform that helps users save, borrow and earn returns by participating in digital savings groups (locally called bhishi/VC/committee/chit funds).
Across India over USD800Bn is rotated in chit groups. Most of these groups are operated offline, on cash and in an unregulated manner. Finlok works with registered chit fund partners to offer this service in a legal, secure, convenient and transparent manner.
The founders chose the model because of the huge market potential, the immense benefits that can be delivered through digitisation and the possibility to create a platform ecosystem around a core use case of a saving group.
Across India over USD800Bn is rotated in chit groups. Most of these groups are operated offline, on cash and in an unregulated manner. Finlok works with registered chit fund partners to offer this service in a legal, secure, convenient and transparent manner.
The founders chose the model because of the huge market potential, the immense benefits that can be delivered through digitisation and the possibility to create a platform ecosystem around a core use case of a saving group.
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Tanuj Sinha
Founder Gourmet Eat In • Worked at @Infosys, @Nihilent Technologies • Studied at @Ggsipu
Atish Potdar
Valuation
$0
Funded over
1 round
Latest round
Pre-Seed (Jul 2019)
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