Fintech startup Bold Finance raises pre-seed funding from Antler India. The startup is on a mission to enable financial freedom for low and mid-income segments in India.
Mumbai-based fintech startup Bold Finance is founded by ex-Mckinsey and ex-Flipkart alumni Nikhil Jain and Durgesh Suthar in 2021.
Fintech startup Bold Finance is enabling financial freedom for Bharat. They are building technology, which enables jewellers and pawnbrokers to work with multiple Banks and convert the unorganised business into an organised one with no hassle. This will also reduce the interest rates charged to end customers.
“Some of the most important factors that affect a customer’s gold loan journey are trust on the lender, proximity of the lender, turn-around time of loan and accessibility during non-banking hours. Our unique model solves for all these aspects and allows us to expand quickly across geographies by leveraging technology and operations synergies.”Durgesh Suthar, co-founder at Bold Finance, said.
They are focusing to improve credit availability for users from tier-2 and tier-3 cities. Currently, lower and mid-income segment groups don’t have access to high-quality financial services, because of low ticket size and non-focus group for Banks. They believe by leveraging technology they could build a self-serve system that could deliver a great experience while ensuring they capture sufficient data points for underwriting credits.