The Credit Infra Partner With cutting-edge platforms like DeviceConnect, FinBox has facilitated over 10 billion credit decisions for large NBFCs and lenders.
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
From a personal finance app launched in 2015, FinBox pivioted to an end-to-end credit infrastructure and risk Intelligence Company that enables lenders and enterprises to launch and scale new credit products easily.
These can range from a checkout financing solution on an e-commerce platform to a personal loan disbursed through a lender's native app.
"The architecture of our entire product suite is compliance-first and modular. We rely heavily on serverless API stacks that offer plug-and-play functionality to our clients who can deploy these solutions on top of their existing workflows with ease," Rajat Deshpande, Co-Founder and CEO, FinBox said.
Deshpande, who had stints with Citigroup and GoPigeon Logistics, believes that FinBox's critical aspect lies in enabling organizations to seamlessly integrate lending opportunities on top of their existing offerings, including various types of loans, such as business, personal, bullet loans, and credit line products.
As a result, businesses can effortlessly expand their financial services, benefiting lenders and enterprises. With cutting-edge platforms like DeviceConnect, FinBox has facilitated over 10 billion credit decisions for large NBFCs and lenders.
Speaking on profitability, this IIT Mumbai alumnus said, "We're currently burning a minimal amount due to product suite expansion. However, the runway is comfortably long and profitability is on the short-term horizon as products mature and product-level P&Ls get balanced with maturity of business on the client side."
He said that the depth of regulation in the financial sector isn't a deterrent. In fact, it's a big positive since regulation ensures sustainable growth with less volatility. "This is also exciting as we're currently on the cutting-edge of technology and regulations are evolving in tandem with the market and customers. The space has never been more vibrant," he added.
Rajat suggests that one should be deeply passionate about what they're doing on a daily basis. That mostly takes care of all other troubles such as money, motivation, achievement and overall quality of life.
FinBox is setting up its offices in the Philippines, Vietnam and other SEA geographies to serve those markets with our custom offerings. It is also in the process of formalizing commercial partnerships with larger players to build a strong presence in these markets. Through agile and innovative tools, it aims to empower banks, multi- finance companies, and FinTechs alike, catalyzing growth and prosperity across Southeast Asia's dynamic financial landscape.
