Moneyonclick

* At MoneyOnClick we are building India’s largest financial services brand for the 500 Mn lower middle income customers in 4000+ small cities (which we call “India 4”). This customer segment has very ...little penetration of formal loans, insurance or saving products as existing financial service players see this segment as risky and non profitable . We have created custom lending, insurance and saving products that are tailor-made to serve the needs of India4 customers. * To reach these customers at low CAC, we have built a proprietary tech enabled offline-to-online social distribution channel where we have onboarded thousands of financially literate free-lancers such as LIC agents and junior financial sector employees in 1000+ cities. Our fully automated social partner app is available in 6 Indian languages and helps us manage these partners remotely without any physical presence. * The general perception is that this customer segment is highly risky and non lendable. We are happy to share that we have been able to maintain near 0% default rates despite Covid19 . Our proprietary ML based family underwriting where we evaluate the P&L of the family and give a joint liability family loan has helped us maintain these low default rates. * We have raised $4.25 Mn seed round from some of the top VCs such as Kalaari Capital ( Indian VC with $650MN AUM and investments such as Myntra, Cure.Fit, Dream11 ), Picus Capital ( Fund run by Alexander Samwer- Co-Founder of Rocket Internet that had multiple billion $+ exits/IPOs -Lazada, Jumia, DeliveryHero etc), 3one4 Capital (Early Stage Fund with $250Mn AUM and companies such as Bank.Open and Jupiter Neobank in its portfolio ) and Orios Ventures (Early stage fund with companies like Ola and Pharmeasy in its portfolio)