Ritesh Jain, Former CFO Of Housing.com, Comes Up With His Own Startup
FlexiLoans: An Easier Way towards Securing Loan
Ritesh Jain, the former CFO at real estate company, Housing .com left his job in order to come up with his own startup. Named as FlexiLoans, this startup aims at simplifying loan procedure for small-scale and medium-scale industries in India.
The team also consists of Manish Lunia and Deepak Jain, who are the co-founders along with Ritesh Jain.
How Will It Make a Difference?
Started in April this year, FlexiLoans has disbursed 100 loans till date while handling customer sourcing and underwriting. This is an online platform designed with an aim to solve the many bureaucratic problems that companies face while applying for loans. Also, it’s been recorded that about 80% loan requests by SMEs are rejected owing to inadequate financial history. FlexiLoans strive towards facilitating quick and customized loan schemes. And while doing all this, the platform also maintains complete transparency.
The underlying technology has been developed to remove bottlenecks from the entire process and streamline various stages of loan processing, which includes, loan application, financial reviewing, credit decisions and scoring, loan disbursement, regulatory compliance, etc. So, all in all, FlexiLoans is simplifying and speeding up the entire loan process, which can otherwise become quite tiresome and frustrating. The technology behind it is also enabled with a credit engine that generates credit scores based on applicant’s profiles. This in turn helps lending partners in making their decisions.
Takeaways:-
- Ritesh Jain, the former CFO at real estate company, Housing .com left his job in order to come up with his own startup calledFlexiLoans.
- Started in April this year, FlexiLoans has disbursed 100 loans till date to small-scale and medium-scale industries in India.
- It streamlines various stages of loan processing, which includes, loan application, financial reviewing, credit decisions and scoring, loan disbursement, regulatory compliance, etc.
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