Basic Information
Kosh, a Y Combinator-backed startup (W20), groups three or as many as ten blue-collar workers and gives them a loan. When a user logs into our Android app, they are able to apply for a loan. But before they do that, they need to add some of their colleagues and friends who are also looking for a loan. This way of banding together people allows Kosh to charge a lower rate of interest on the loan. In each group, at least one member has to be credit-worthy in the traditional sense. The startup also uses alternative data such as information gleaned from text messages to determine a person’s eligibility. It currently offers loans up to twice the salary of an individual and over a tenure of up to 10 months, said Goel. The startup has disbursed close to 150 loans worth $35,000. It works with a Noida-based non-banking financial company to fund these loans. The startup is planning to broaden its neobanking offering this year by creating bank accounts for its customers.
Legal Name
:
Adhikosh Financial Advisory Private Limited
Headquarters
:
Gurgaon, Haryana, India
Business Model
:
Founding Date
:
2019
No. of Employees
:
21 to 40
Core Team
:
1.
Aayush Goel
Co-Founder
2.
Sahil Bansal
Co-Founder
Funding
Total Funding
$150.0k
Investors
:
1.
Y Combinator
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