From loans to investments: FatakPay found growth by redefining financial inclusion for the unbanked
India today has a plethora of lending apps chasing short-term disbursement metrics, but FatakPay says it not only wants to provide loans but also help borrowers in building long-term financial resilience. The platform started from the idea that credit can't fix long-term financial strain, and it has grown into a comprehensive financial wellness ecosystem with instant loans, digital gold investments, insurance, and job tools. In this conversation with The Economic Times Digital, Abhishek Gandhi , Co-founder of FatakPay, explains why trust—not transactions—drives their growth, how frontline workers are transitioning from borrowers to investors, and why real financial inclusion is rooted in habit-building, not just access. Edited excerpts.We realised early on that our users do not just face one-off financial emergencies; they live with ongoing financial stress. A loan might solve a temporary issue, but it does not change their trajectory. That is why FatakPay was never meant to be just a lending app.We designed it to help users build long-term financial resilience. From digital gold investments to insurance to employment tools, every product is designed to serve real, recurring needs. For many of our users, this is the first time they are thinking beyond 'just getting by.' That transformation toward proactive financial health is core to our mission.In a space where fine print often becomes a trap, we lead with radical transparency. We embed trust into every layer of our operations through transparency, consent-based interactions, and customer-centric servicing. Our lending flows include full fee disclosures, and users can access loan summaries and statements instantly via WhatsApp bots.We also have one of the largest in-house collections teams, nearly 1,000 members who engage not just to collect, but to assist. They resolve queries, explain dues, and de-escalate issues on the ground, and partake in educating the customers about financial wellness solutions within FatakPay app - at times, they are the most effective 'word of mouth' channel for our new product launches too.Operationally, we utilise automation tools to interact with our customers throughout their entire lifecycle - from assisting in their loan application journey to tactical communications around their disbursements, due date etc., thus ensuring timely nudges and communications — no surprises, no hidden clauses.Absolutely. We are seeing clear behavioural patterns emerge as users become more financially confident. Many borrowers start with small-ticket loans, and over time, based on their app activity and repayment behaviour, they explore other offerings like digital gold, insurance, or credit card solutions.For example, disbursed loan users who also begin investing in digital gold tend to increase their investment frequency over time. Currently, average weekly gold investments from returning users are over RS 5,000, and nearly 20% of transactions in July 2025 were systematic SIPs.This tells us that users are not just consuming; they are evolving. Our role is to facilitate that journey with intelligent nudges, simple interfaces, and trust-led design.Our core segment, India's hardworking salaried class, has historically lacked access to safe, structured investment products. For many, gold is familiar, culturally trusted, and accessible in small amounts.We made it digital, transparent, and easy to start, starting as low as Rs 10. That has created a strong pull, especially in Tier 3 and 4 cities, where gold is seen both as a savings tool and a security net. In fact, Tier 3 users invest 3x more in value compared to Tier 1 users.So yes, digital gold works, but more importantly, it's becoming a gateway to financial inclusion for a user base previously left out.It shows that financial aspiration is alive and growing even in low-income or credit-stressed segments. These are users who once borrowed out of necessity and are now investing out of choice. That shift is powerful.Almost 17% of our disbursed users show some sort of interest in digital gold investing - a good percentage also invest, which validates our model that lending can be the entry point, but not the end goal. When you combine instant loans with simple savings tools and timely nudges, users are more than willing to engage in wealth creation.It is not just about access. It is about belief helping users believe that they can take charge of their financial future.We have just crossed 10 million app downloads. From a lending perspective alone, we have disbursed loans to over 1.5 million customers.Our typical user is salaried, earning between Rs 15,000–Rs 30,000/month, with a credit score between 650–750. This group forms our largest cohort, about 50% of our base. Age-wise, the 23–35 segment makes up 65% of users.These are India's essential workers, delivery staff, back-office employees, security guards often invisible in mainstream finance. With FatakPay, they are now accessing structured credit, making their first investment, or protecting their families with insurance. That's real financial uplift.We have been proactive about compliance and ethical design since day one. Our lending model is RBI-compliant, built in partnership with regulated NBFCs. Every user journey from onboarding to repayment is consent-driven and fully transparent.On collections, we have invested heavily in training and in-house control. Our team follows a strict code of conduct, and all communications are monitored for tone, timing, and clarity. We avoid aggressive third-party agencies entirely.For data privacy, we follow strong encryption standards and have zero tolerance for misuse.FatakPay was built to serve the segments that traditional finance has historically underserved, salaried workers earning Rs 15,000 to Rs 30,000 a month, many of whom face regular cash flow gaps and limited access to formal credit or investment products. With over 10 million app installs today, we are seeing growing engagement not just in lending, but in savings, digital gold, and insurance, with daily average users who engage on our app hovering around the 1 lakh mark.What drives our growth is a combination of product depth and trust. We have built an ecosystem that meets users where they are, starting with short-term credit and gradually opening access to tools that support long-term financial stability. Equally important is the trust we have built through transparent communication, consent-led design, and consistent on-ground support.A major shift we are seeing is in user behaviour. Nearly 17% of our instant and personal loan users now show interest in digital investments, and we are observing steady adoption of digital gold and silver -investments, especially in Tier 2 and 3 cities. These are not high-value transactions, but they represent a significant mindset change - people are starting to think beyond immediate needs and build a habit of saving.We believe real financial inclusion is not just about access but about creating pathways to better decision-making and discipline. That is why we focus on habit formation and product simplicity, rather than just pushing volume.Looking ahead, our scale strategy involves a deeper presence in smaller towns, expanding our non-loan offerings, and partnering with employers to improve financial security for frontline and blue-collar workers. The goal is to make financial wellness not just available, but truly usable and sustainable for everyday Indians.
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