9.2 / 10
 Mumbai

FinTech company focused on rural banking services and financial inclusion, facilitating through agent's network.

Key Business Facts
Yearly Sales USD 1.4 million
EBIDTA Margin Operating at loss
Industries FinTech
Locations  Mumbai
Business Overview
Our client acts as a business correspondent to banks. They facilitate banking services in areas where banks are unable to open brick and mortar branches. Through their vast network of agents, they provide affordability and easy accessibility to this unbanked population.
Armed with the finest technology, they help in taking the banks to the doorsteps of rural households in over 6 lakh villages. With over 1 lakh transactions everyday, they reach out to families across India.
The rural masses get access to banking services like cash withdrawal, cash deposits, payments, balance inquiry and statement of account that can be completed with the ease of using fingerprint authentication.
The residents of villages with these agents do not have to walk 5-10 kilometers anymore to do a banking transaction.
Products & Services Overview
- Withdrawal of money - Cash can be withdrawn from desired bank account or EMI can be collected.
- Deposit of money - Cash can be deposited into the desired bank account.
- Cash Collection - Cash is collected on behalf of banks and corporates.
- Account opening - Different bank accounts can be opened.
- Transfer of Money - Cash to Bank Transfer. Unlike Bank to Bank or wallet to wallet.
- Prepaid Cards and Bill Payments.
Partial Stake Sale
USD 700 thousand for 49.0% stake (Native Currency: INR 60,000,000)
Reason: Lack of funds.
Includes physical assets worth USD 36 thousand
Interested to connect with advisors
In talks with 3 Investors
Contact Business