Kissht is a digital lending platform from India that has revolutionized the way people access credit. Founded in 2015, Kissht has grown to become one of the leading fintech companies in the country. Here’s a look at its foundation story.
Kissht was founded with a clear vision to democratize access to credit in India, especially for those who were underserved by traditional financial institutions. The founders recognized the challenges faced by millions of Indians in securing timely and affordable credit. They set out to create a platform that would bridge this gap using technology[3].
The early days of Kissht involved developing a financial technology platform to provide purchase financing and personal loans. The team focused on using big data and machine learning algorithms to solve the problem of underwriting and to develop a custom-built CRM platform to engage and educate customers on customized product offerings[2].
This vision and the initial efforts have been instrumental in shaping Kissht into what it is today. The company has consistently worked towards making financial services more accessible and inclusive.
Kissht was founded by Krishnan Viswanathan and Ranvir Singh in 2015. Krishnan Viswanathan is an IIT-Delhi and Yale University graduate with over 15 years of experience in financial services, digital, and mobile sectors. He previously worked with technology startups in the Bay Area and with McKinsey & Company before starting his entrepreneurial journey[1][2].
Ranvir Singh also brings significant experience from working in PSUs, private sector banks, and large NBFCs. Together, the co-founders leveraged their expertise to address the challenges faced by lower-income segments in accessing credit[2].
Their combined experience and vision have been crucial in driving Kissht’s success and innovation in the fintech space.
Kissht has undergone significant evolution since its inception. From its initial concept to its current state, the company has continuously innovated and expanded its services. Here’s a look at its business evolution.
Initially, Kissht offered a discovery marketplace for customers to avail of personal loans across several participating NBFCs. After receiving the NBFC license, the startup built its own credit rails platform with both a loan origination system (LOS) and loan management system (LMS)[2].
Today, Kissht is a fully digitized and automated fulfillment platform that supports various types of credit-led purchases, including EMI-based loans, debit-card EMI solutions, and credit-card EMI solutions. The platform is integrated with credit bureaus, Aadhar, UPI, and NSDL[1].
Kissht’s platform is live across 35 online merchants and over 2,000 physical touch-points of 25 OEMs such as Prestige, Hitachi, and Bluestar. This widespread integration has made Kissht a leading player in the Indian fintech sector[1].
Kissht has achieved several key growth milestones. One notable achievement is clocking Rs 200 crore in revenue in FY21 despite the ongoing pandemic. This growth is a testament to the company’s robust business model and innovative approach[2].
The company has also raised significant funding, including three rounds of equity funding from five investors, amounting to a total of Rs 270 crore. Recently, Kissht raised $80 million in a funding round led by Vertex Growth and Brunei Investment, which will be used to expand its product offerings and enter the BNPL cards segment[5].
These milestones reflect Kissht’s commitment to growth and innovation in the fintech space.
Kissht has continuously expanded its product portfolio to meet the diverse needs of its customers. The company offers a range of services including personal loans, credit for small business purchases, and a line of credit. These services are primarily targeted towards the e-commerce industry[3].
Kissht’s product offerings include a retail app for instant purchase loans for smartphones and consumer durables, a franchisee app for personal loans in underserved areas, and an online purchase loan solution for e-commerce retailers. The company also offers a digital EMI card with zero percent finance on e-commerce loans and a revolving line of credit up to Rs 30,000[2].
Kissht’s technology infrastructure is a key factor in its success. The company leverages cutting-edge technology to provide seamless and efficient digital lending solutions. Here’s a look at its technology infrastructure.
Kissht’s platform is built with scalability and flexibility in mind. It uses big-data ML-based statistical models to assess the creditworthiness of applicants efficiently. The platform is fully integrated with credit bureaus, Aadhar, UPI, and NSDL, ensuring a smooth and secure lending process[1][4].
The entire loan process, from application to disbursement, is 100% digital, eliminating the need for physical documents. This digitization allows users to conveniently capture and upload documents via their smartphones[3].
Kissht’s platform also includes a user-friendly interface for account management, payment options, and promotional offers. The Android app provides a convenient way for customers to manage their accounts and access various services[1].
Kissht places a strong emphasis on security and compliance. The company uses advanced algorithms to detect fraud and prevent loan disbursal to high-risk customers. The platform ensures electronic verification to reduce the time and effort required for manual verification[3].
Kissht has received several awards for its security excellence, including the Cyber Security Excellence Awards for Best On-Premises Security in 2022. This commitment to security ensures that customer data is protected and transactions are secure[5].
Kissht is a pioneer in the Indian fintech sector, constantly innovating to meet the evolving needs of its customers. The company leverages AI, big data, and cloud computing to enhance its platform and provide seamless digital lending solutions[4].
Kissht continuously seeks feedback from its users and incorporates their insights into its product development process. This customer-centric approach drives innovation within the company and ensures that the platform remains user-friendly and efficient[4].
The company’s future plans include expanding its product offerings, exploring new markets, and leveraging emerging technologies to further enhance its platform. By staying true to its core values of innovation, customer-centricity, and inclusivity, Kissht is well-positioned to lead the fintech industry into the future[3].
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Kissht, a leading digital lending platform in India, has made a significant impact on the market since its inception. Here’s how it has grown and expanded its influence.
Kissht has seen remarkable growth in its user base over the years. The platform has served over 10 million customers, providing them with quick and easy access to credit[5).
The user-friendly digital platform of Kissht has been a key factor in its widespread adoption. The app is designed to make digital lending straightforward and intuitive, making financial services accessible to millions of Indians, including those in underserved rural areas[4).
The simplicity and functionality of the platform have enabled users to apply for loans, track loan status, and make repayments with ease. This has contributed significantly to the platform's user base growth.
Kissht has expanded its market share by partnering with numerous online and offline merchants. The platform is live across 35 online merchants and over 2,000 physical touch-points of 25 OEMs such as Prestige, Hitachi, and Bluestar[1).
The company has also expanded its presence in Tier I and II cities through its franchisee app, which avails personal loans to underserved user segments. This strategic expansion has helped Kissht to reach a broader audience and increase its market share[2).
Kissht's retail app offers walk-in-walk-out instant purchase loans for smartphones and consumer durables across 5,000+ hyperlocal retail stores, further enhancing its market presence.
Kissht is committed to expanding financial inclusion in India. The company uses cutting-edge technology, including AI, big data, and cloud computing, to provide financial services to the unbanked and underbanked populations[4).
Kissht offers micro-loans and other financial products tailored to the needs of these segments, bridging the credit gap and empowering individuals to achieve their financial goals. The platform also provides accessible, engaging, and practical financial education to promote financial literacy[4).
By leveraging alternate data sets, Kissht's credit IP assesses the credit worthiness of new-to-credit and lower-income segments in real-time, enabling on-the-spot purchases and fostering financial inclusion[6]).
Kissht's financial journey has been marked by significant growth and strategic financial decisions. Here’s a look at its revenue growth, path to profitability, and investment rounds.
Kissht has demonstrated impressive revenue growth. In FY21, the company clocked Rs 200 crore in revenue despite the ongoing pandemic. This growth is a testament to its robust financial technology platform and innovative product offerings[7]).
In FY23, Kissht's revenue jumped 100% to ₹1,037 crore from ₹517 crore in the previous year, indicating a strong upward trend in its financial performance[8]).
The company's revenue model is simple, involving extending loans to customers and charging interest that covers costs, expenses, and risk-related losses. This model has been effective in driving revenue growth.
Kissht has made significant strides towards profitability. In FY23, the company reported a profit of ₹95.5 crore, highlighting its ability to manage costs and generate profits despite market challenges[8]).
The company focuses on offering several credit products suitable for customers’ needs, including personal, medical, discretionary, and small business loans. This diversified approach has helped in achieving profitability.
Kissht also generates revenue through nominal fees for setting up loans and by offering additional services like credit-linked health insurance and credit counseling.
Kissht has raised several rounds of funding to enhance its product offerings and expand its presence. The company raised $80 million in a funding round led by Vertex Growth and Brunei Investment Agency in 2022[8]).
Existing investors, including Vertex Ventures SEA and India and Endiya Partners, also participated in this round. Kissht has raised a total of Rs 270 crore through three rounds of equity funding from five investors[7]).
The funding has been used to deepen its presence across India, expand product offerings, and launch new initiatives such as credit-backed cards for millennials.
Kissht has formed several strategic partnerships to enhance its services and reach. Here’s a look at its banking collaborations, merchant partnerships, and technology alliances.
Kissht has partnered with various banks and financial institutions to leverage their capabilities. The platform is fully integrated with credit bureaus, Aadhar, UPI, and NSDL, ensuring seamless and secure transactions[6]).
The company has set up an in-house non-banking finance company (NBFC) and is in the process of launching its own credit cards, further solidifying its banking collaborations[8]).
These partnerships enable Kissht to offer a range of financial products, including personal loans, credit lines, and credit cards, to its customers.
Kissht has partnered with numerous online and offline merchants to expand its reach. The platform is live across 35 online merchants such as Zopper, Caratlane, and Shopclues[6]).
In the offline space, Kissht is present at over 2,000 physical touch-points of 25 OEMs like Prestige, Hitachi, and Bluestar. These partnerships allow customers to avail of instant purchase loans and other credit products at these retail points[6]).
The company's retail app also offers walk-in-walk-out instant purchase loans for smartphones and consumer durables across 5,000+ hyperlocal retail stores.
Kissht collaborates with leading technology firms to integrate cutting-edge solutions into its platform. The company uses AI, big data, and cloud computing to provide efficient and reliable credit assessments[9]).
Kissht's proprietary algorithmic credit decision model with machine-led self-learning capabilities ensures that the platform remains at the forefront of digital lending technology[8]).
These technology alliances enable Kissht to leverage the latest advancements, ensuring that it remains a pioneer in the fintech industry.
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