Navadhan Management Services Private Limited

In their own words

Navadhan is a fin-tech start-up focussed at developing an innovative alternative-tech-led retail financial services platform. We are targeting the under-banked households and micro enterprises from rural/ semi-urban areas. We are building Artificial Intelligence (AI) based Machine Learning (ML) for predictive analytics to arrive at future free cash-flows of clients. Based on this, decisions for offering suitable financial product can be made. In line with regulatory norms, we shall tailor make financial products like various types of secured and unsecured loans, savings and investment products etc. These would be delivered in collaboration with other financial institutions like full-service banks, small finance banks, NBFCs, MFIs, housing finance companies. We are solving a problem for a large part of target population which continues to be under-banked. This is where the household cashflows and enterprise cashflows are intermingled and the income expense proofs are not formal besides the data availability is of low frequency. Our model addresses the typical problem of limited digital footprint and documentary evidence of cashflows of our customer segment. We are developing credit-process to use social and economic surrogates for cashflows. We also sensitise them for seasonality and peculiarities of rural value chains. This helps us design variety of loan products for variety of needs like seasonal requirement, working capital provisioning for emergency/ contingencies etc. We follow a phygital model – i.e. a mix of physical branch-based field staff and digitised workflow backed by AI/ ML capabilities. This shall allow us to achieve future scale and with a high degree of customer engagement. Our model has a good potential to generate large scale employment and create wealth for micro-entrepreneurs. We plan to generate incremental employment of over 5,00,000 individuals in next 5-10 years enabled through growth of micro enterprises funded by us. Provision of debt for micro-enterprises can help them diversify and/or backward-forward integrate. This shall help them increase their business scale and margins and hence help the entrepreneur in creating new-wealth for them. Hence, we derive our name from that purpose viz. Navadhan (new-wealth).

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