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BW Businessworld

Lending Made Quick And Easy

Credit Wise Capital is killing two birds with one stone — it is promoting financial inclusion by making lending easy while helping fintechs build their book By Urvi Shrivastav

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While channelising his talent as an investor via his company Samyakth Capital, Aalesh Avlani is also making strides in the domain of financial inclusion. With a degree in Finance from Boston University, Avlani worked in the United States before moving back to India.

Talking about his journey to BW Businessworld, Avlani says, “After working in SEI Investments, where I was part of a three-member team managing a $170-million lending portfolio and after working very closely with fintech founder in India, I realised that lending was going to go through an exponential growth phase. Most of the fintechs spend millions of dollars to acquire customers only to monetise via lending in India. Supporting these fintechs by providing growth capital as well as providing NBFC support at an early stage was the main motivation for me to start Credit Wise Capital. The first focused product at Credit Wise Capital is new two-wheeler lending.”

Focus on 2-wheeler Lending

Credit Wise Capital (CWC) is one of the fastest growing digital NBFCs that aims to make lending quick and easy. The company aims to disrupt two-wheeler lending in India for all the stakeholders in the value chain — from retail customers to original equipment manufacturers (OEMs). The company has currently served more than 20,000 customers across India for their two-wheeler financing requirements and has also helped multiple fintech companies build their book through its platform as a service approach. “When we started, the entire market was dealer driven — the NBFCs and banks had to rely on them to generate leads and lend to customers despite there being overwhelming demand for the product,” says Avlani. To tackle this issue, they flipped the model around — by tying up with fintechs and ecommerce partners, they have now becmome originating partners for these dealers. After the change in business strategy, CWC was able to generate highly personalised leads — new/used/electric vehicles — and was able to generate sourcing fees on the eventuality of the sale going through.

Future trends 
CWC is in the process of disrupting the origination part of the loan process by tying up with multiple fintechs. By leveraging the customer base of these fintechs and underwriting them, they are able to originate customers for dealers. Currently, the flow of leads happens through the dealers for a majority of the banks and NBFCs.

Till date, the platform has offered loans to more than 20,000 customers. This rich data base can be leveraged to cross-sell other products in a highly targeted manner given the sort of insights they have gathered over the duration of the customer’s journey. To leverage the same, they have started tying up with insurance providers and selling their products at the point of sale. The company gets to keep a certain percentage of the premium as origination fees.

“Being able to provide Indians with the means to get their dream bike is one of the biggest motivations for me. And doing so in a transparent manner along with providing the best customer experience is my duty through Credit Wise Capital,” adds Avlani.