MoneyOnClick

company

About

Building India's largest financial services brand for the 500Mn underserved lower-middle income customers.

  • 11 - 50

Details

Last Funding Type
Seed
Last Funding Money Raised
$4.25M
Industries
Financial Services,FinTech,Internet,Lending
Founded date
Oct 1, 2018
Number Of Employee
11 - 50
Operating Status
Active

* 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 term as “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 tailormade 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 8 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.

Funding Rounds

Number of Funding Rounds
Total Funding Amount
1
$4.25M
MoneyOnClick has raised a total of $4.25M in funding over 2 rounds. Their latest funding was raised on Jan 31, 2019 from a Seed round.
Announced Date Round Money Raised Number of Investors Lead Investors Post Valuation
Jan 31, 2019 Seed $4.25M 1 Detail

Investors

Number of Lead Investors
Number of Investors
1
MoneyOnClick is funded by 1 investors. Kalaari Capital are the most recent investors.
Investor Name Lead Investor Funding Round
Kalaari Capital Seed