SmartCoin: The Financial Wellness Platform for the Underserved in India

SmartCoin: The Financial Wellness Platform for the Underserved in India – What if you could get quick and easy access to credit, savings, and financial insights, from the comfort of your home, using your smartphone or laptop? What if you could access the best loan offers, interest rates, and repayment options, for any purpose, at any time, and at an affordable price? What if you could join a community of millions of customers, lenders, and partners, who share your passion and vision for financial wellness, and who support and inspire you on your financial journey?

SmartCoin

Details of the startup:

  • CITY : Bengaluru
  • STATE : Karnataka
  • STARTED IN : 2015
  • FOUNDERS : Rohit Garg and Vinay Kumar Singh
  • NUMBER OF INVESTORS : 13
  • LATEST ROUND INVESTMENT : ₹520.50M
  • TOTAL INVESTMENT : ₹7064.19M
  •   TOTAL SECURED LOANS AVAILED : Nil

You can find their website here

These are some of the questions that SmartCoin aims to answer with its innovative platform for financial wellness. SmartCoin is a website and app that provides instant personal loans, gold savings, and credit score improvement for the underserved segments in India, such as lower and middle-income individuals, small businesses, and gig workers. SmartCoin allows you to get and grow money, in a simple, smart, and effective way.

SmartCoin was founded in 2015 by a team of engineers, entrepreneurs, and industry experts, who shared a common vision of creating a platform that uses artificial intelligence and machine learning to offer instant credit and financial solutions for the underserved in India. SmartCoin is based in Bangalore, and has secured funding from esteemed investors, such as Sequoia Capital, Orios Venture Partners, and India Quotient. SmartCoin’s mission is to be the leading financial wellness platform in India, and to disrupt the traditional lending industry by making it more interactive, inclusive, and impactful.

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How SmartCoin Works

SmartCoin works on a simple yet powerful principle: instant personal loans, gold savings, and credit score improvement. SmartCoin provides instant personal loans, gold savings, and credit score improvement, which are a form of financial wellness solutions, where customers can get and grow money, using a proprietary AI/ML platform and app, and a network of RBI registered lenders and partners. SmartCoin’s process consists of three main steps: apply, approve, and avail.

  • Apply: SmartCoin helps you to apply for the best loan offer for your needs, based on various parameters, such as income, expenses, credit history, and purpose. SmartCoin offers multiple curated loan options, that are verified and updated by its team of experts, and that are sourced from the best and most ethical lenders and partners. SmartCoin also offers a network of partners and collaborators, who provide valuable and diverse loan options, using their expertise, experience, and influence.
  • Approve: SmartCoin helps you to get approved for the loan offer that you have chosen, with no hassle, no paperwork, and no hidden charges. SmartCoin uses a smart and personalized algorithm, that evaluates your creditworthiness and eligibility, using artificial intelligence and machine learning. SmartCoin also uses a secure and reliable verification system, that verifies your identity and documents, using biometric and OTP authentication.
  • Avail: SmartCoin helps you to avail the loan amount that you have been approved for, with no worries, no delays, and no compromises. SmartCoin offers a seamless and smooth disbursal process, that transfers the loan amount directly to your bank account, within minutes. SmartCoin also offers a dedicated and responsive customer support team, that is available 24/7, and that resolves any issues or queries that you may have.
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SmartCoin’s Products and Services

SmartCoin has a variety of products and services to cater to different customer segments and markets. Some of the products and services that SmartCoin offers are:

  • Instant Personal Loans: SmartCoin offers instant personal loans, that provide quick and easy access to credit, for any purpose, such as education, medical, travel, business, etc. SmartCoin’s instant personal loans are designed and customized to suit the needs and preferences of the customers, such as lower and middle-income individuals, small businesses, and gig workers. SmartCoin’s instant personal loans have the following features:
    • Loan amount: Up to ₹5 lakh*
    • Interest rate: Starting from 1.5% per month
    • Tenure: Minimum 2 months, maximum 24 months
    • Processing fee: 3% of loan amount (including 18% GST)
    • APR range: 30% to 90%
  • Gold Savings: SmartCoin offers gold savings, that provide a convenient and secure way to save money, in the form of digital gold, that can be redeemed anytime, anywhere. SmartCoin’s gold savings are designed and curated to suit the needs and preferences of the customers, who want to save regularly, with as low as ₹10*, and with guaranteed safety and quality. SmartCoin’s gold savings have the following features:
    • Gold quality: 24K 99.9% pure gold
    • Gold price: Based on live market rates
    • Gold storage: Free and insured
    • Gold redemption: 24×7, in the form of coins, bars, or money
  • Credit Score Improvement: SmartCoin offers credit score improvement, that provide a free and easy way to check and improve your credit score, by providing insights, tips, and rewards. SmartCoin’s credit score improvement are designed and personalized to suit the needs and preferences of the customers, who want to monitor and enhance their credit health, and get access to better loan offers and interest rates. SmartCoin’s credit score improvement have the following features:
    • Credit score check: Free and instant
    • Credit score refresh: Every 60 seconds
    • Credit score insights: Personalized and actionable
    • Credit score rewards: Exciting and exclusive
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SmartCoin’s Impact and Vision

SmartCoin is not just a platform, but a financial wellness partner, that aims to address the credit requirements of the underserved segments in India, and to empower them with financial solutions and opportunities. SmartCoin’s impact and vision can be summarized by four key words: instant, credit, wellness, and partner.

  • Instant: SmartCoin uses instant as its core value, and as its source of value and differentiation. SmartCoin recognizes instant as a powerful and convenient way of providing and accessing credit and financial solutions, that can benefit both customers and lenders, especially in a country like India, where there are many barriers and challenges, such as lack of infrastructure, access, and affordability. SmartCoin also respects instant as a personal and flexible form of credit and financial solutions, that can adapt and customize to the individual needs and preferences of the customers and lenders.
  • Credit: SmartCoin uses credit as its core domain, and as its measure of success. SmartCoin strives to improve the quality and efficiency of credit and financial solutions, especially in India, where there is a huge demand and supply gap, and where there are many complexities and uncertainties, such as changing customer behavior, taste, and expectations. SmartCoin’s platform is designed to be user-friendly, attractive, and secure, for both customers and lenders. SmartCoin’s platform is also designed to be smart, personalized, and scalable, for both customers and lenders.
  • Wellness: SmartCoin uses wellness as its ultimate goal, and as its reason for existence. SmartCoin aims to enhance and enrich the financial wellness of the customers and lenders, by providing them with the best platform and technology, for instant credit and financial solutions. SmartCoin’s platform enables customers and lenders to get and grow money, using its instant personal loans, gold savings, and credit score improvement solutions. SmartCoin’s platform also enables customers and lenders to practice and improve their financial health, using its insights, tips, and rewards solutions.
  • Partner: SmartCoin uses partner as its guiding principle, and as its driver for growth and innovation. SmartCoin strives to create a network of millions of customers, lenders, and partners, who share its passion and vision for financial wellness, and who support and inspire each other on their financial journey. SmartCoin’s platform is designed to be fair, transparent, and unbiased, for both customers and lenders. SmartCoin’s platform is also designed to be collaborative, participatory, and empowering, for both customers and lenders.
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SmartCoin is a platform that provides instant personal loans, gold savings, and credit score improvement for the underserved segments in India, such as lower and middle-income individuals, small businesses, and gig workers. SmartCoin allows you to get and grow money, in a simple, smart, and effective way.

If you are interested in learning more about SmartCoin, or trying its products and services, you can visit its website at www.smartcoin.co.in, or download the app from the Google Play Store. You can also follow its social media accounts on LinkedInGithubInstagram and Youtube . You can also contact SmartCoin at help@smartcoin.co.in, or call them at 91483 80504.

SmartCoin is more than just a platform, it is a financial wellness partner. Join SmartCoin today, and get and grow money, for yourself and for others. 💰

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