Transcribe
Welcome Alok to the podcast. Thank you. So Alok our listeners would like to know more about your journey. So I'm an engineer by training. I enjoy solving technical problems worked in satellite communication during the early days of my career and 1999 is where I started my first company, it was called jobsahead. We built that over the next six years or six or eight years sold it to monster, which was expanding its presence in the Indian market that time. In my short break after that start up, you know, I along with a few friends lined up starting. What is now the Indian angel network. It's the largest angel investment network in Asia probably in the world. And while I was looking to set up - next business idea Canon Partners was looking to set up their India presence. It was an exciting time to be in the venture capital business. So I joined them and set up their India business. I ran that for the next nine odd years 2015 came out of that to start indifi the past four years. This is what I've been running. So I look what's your purpose in life. You know, I honestly haven't thought about what my purpose is. I think what excites me on a day-to-day basis is problem solving right if I had to describe myself in one phrase. I think that would be problem solving. It could be in any area. You know, I like those challenges. That is what like what I like about being in a start-up I bumped into Alok a few years back and you were about to build a healthcare company. How did you came into fintech and disbursing Loans as today? This Market has hundred 20 startups out of which fifty a hundred was indices mode, right? So when I came out of Canaan they were actually three business ideas that I was pursuing one was Indifi Was into the small business lending space the second was in health care, which was largely around chronic disease management. Now interestingly enough. I'll end up investing in that idea with another entrepreneur and there is another investment. I'm committed to recently also in the chronic disease space. So some of that work that I did then is probably helping me on the investment side. The third company idea that I was looking at was in supplementary education space and again soon after I landed up investing in a company in that space. So there are three ideas. I have invested in two of those Indifi is the one that I'm running you're right there a lot of lending platforms and companies that are out there the way we have thought about indifi go to the root cause of why our MSME is underfunded in India, right? The notion that they're underfunded is well known but in our mind the root cause of that is that this industry suffers from a one-size-fits-all problem where the product as well as the create assessment criteria are the same regardless of what small business you're running. We think and the more people we meet from the industry. They reinforce our belief in the fact that different Industries carry different risks and have different product needs. So we are building interfere around some of these industry verticals and that's a unique approach to the business. Alok what's the scale of Indifi. If you could define in terms of revenue or the little nose dispersed. Yeah, so we serve about 10,000 active customers. That is the metric that we track. Our goal is to serve a hundred thousand customers over next four to five years. And so that is the mission that we are working towards and today. Today watched the average ticket size in msme expects from indifi. Yeah, so I think different. players in the Lending space have also chosen to address different kinds of customers. You know, we fall largely in what is the micro and small end of it? We provide access to unsecured loans from one lakh to 50 lakh rupees. That's our range in our case. The average lands about five lakh rupees. So that is the average ticket size for us across different industry segments. And how you distributing your product right now what the go-to-market strategy for you? There are two dominant media that we use to get to customers, today. one we go into ecosystems that the customers are already using. So if we have to go out to restaurants, we would go and partner with Swiggy or the Zomato. If you want to go to travel agencies will partner with the travel Boutique or yatra TSI and the good thing about this is the customers don't really have to leave their ecosystems to avail of credit the second channel of distribution. We use is the online medium where customers come to our site, they like our products and has their land of applying to us.