MoneyOnClick is a consumer lending fintech started by IIT/ISB/Ex-Amazon & Ex-Lendingkart CXO/VP data science team. We are targeting customers who are currently not served by formal banks and NBFCs and hence end up taking gold loans or loans from informal moneylenders who charge atrocious interest rates. Using advanced ML/AI based underwriting and an in-house technology platform, which uses more than 10,000 data points per customer, we aim to provide unsecured loans to these customers while keeping low default rates. Our target customer segment comprises of almost 100 million customers and is a $300 Billion annual opportunity.
We have been funded by some of the most premier venture capital funds that have backed some of India's most successful unicorns and startups. We have raised $4.25 Million USD which is one of the highest in India for a seed stage startup. Our investors include 3one4 Capital (Fund by T.V. Mohandas Pai, Narayan Murthy, Nandan Nilekani – Infosys founders),Orios Ventures (Investor in unicorns Ola Cabs & Druva) and Kalaari Capital (Investor in unicorns such as Dream11, Snapdeal & Cure.Fit). Our investors have valued our founding team's vision, experience and depth of understanding of this segment resulting in this fund raise.