Latest news with #FatakPay
Business Standard
3 days ago
- Business
- Business Standard
FatakPay Launches 'Kadam Badhaye Ja' - A 10 Week Movement Towards Financial Freedom
VMPL Mumbai (Maharashtra) [India], August 14: This Independence Day, FatakPay is inviting India to take charge of its financial future with Kadam Badhaye Ja, a 10-week campaign starting from 15th August to 23rd October, inspiring people to take small, consistent steps towards long term security through Digital Gold and Digital Insurance. More than a rewards program, Kadam Badhaye Ja is a call to action. It is about breaking the myth that financial wellness requires big, risky moves and proving that even modest, regular investments can build a foundation of independence and protection. India's journey to economic empowerment is still underway. While millions have access to credit, fewer invest regularly for security. With this campaign, FatakPay aims to bridge that gap, making savings and protection accessible, rewarding, and part of everyday life. "Independence is not just political, it is financial. Kadam Badhaye Ja is our way of encouraging every kirana owner, every gig worker, every family to start building wealth and security, one step at a time," said Abhishek Gandhi, Co-Founder of FatakPay. Campaign Highlights 1. Independence Day Special - 15 August 2025 Only - First 1,000 disbursed loan users will receive INR 79 worth of Digital Gold. - Disbursement window: 00:00 to 23:00 hrs IST on 15 August. - Gold credited within 3 working days; users notified via app, SMS, or email. 2. Kadam Badhaye Ja Program - 15 August to 24 October 2025 - Open to all FatakPay users investing in Digital Gold. - To qualify: - Cumulative investment of at least INR 5,000 during the campaign. - Minimum 5 separate transactions over the 10 weeks. Rewards That Shine Top Investor (>= ₹50,000 invested): 100 gm Silver (1 winner) Rank 2-4 Investors (< ₹50,000): 50 gm Silver each Ranks 5 to 20: 10 gm Silver each Total Reward Pool: ₹50,000 in digital silver In case of ties, winners will be chosen randomly, and remaining participants placed in lower tiers. The campaign is not just about prizes. It is about creating a habit. By making regular investments in Digital Gold and Digital Insurance, users protect their future against uncertainty, while enjoying the transparency, accessibility, and trust that FatakPay is known for. "This is financial independence in action," added Gandhi. "We are not asking people to leap, we are asking them to keep moving forward, step by step, until holistic financial outlook becomes second nature." General Conditions - Rewards are nontransferable and non-exchangeable for cash. - FatakPay may modify or withdraw the campaign without notice. - All rewards processed within 5 working days of campaign end. - FatakPay's decisions are final and binding. For campaign related detailed Terms and Conditions, read here:
Time of India
06-08-2025
- Business
- Time of India
From loans to investments: FatakPay found growth by redefining financial inclusion for the unbanked
Live Events 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 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 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 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 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 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 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 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 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 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 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 yes, digital gold works, but more importantly, it's becoming a gateway to financial inclusion for a user base previously left 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 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 is not just about access. It is about belief helping users believe that they can take charge of their financial have just crossed 10 million app downloads. From a lending perspective alone, we have disbursed loans to over 1.5 million 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 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 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 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 data privacy, we follow strong encryption standards and have zero tolerance for 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 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 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 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.
Economic Times
06-08-2025
- Business
- Economic Times
From loans to investments: FatakPay found growth by redefining financial inclusion for the unbanked
Abhishek Gandhi, CO Founder FatakPay. 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. Economic Times (ET): Most loan apps stop at credit disbursement. FatakPay moves into investments, savings, and even employment. Why was it important to go beyond lending? Abhishek Gandhi (AG): 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 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. ET: You mentioned that FatakPay is built on trust, not just transactions. In a crowded and often predatory digital lending space, how do you operationalise that trust? AG: 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 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. ET: How do users typically progress through your ecosystem from micro-loans to credit cards to investments? Is there a behaviour pattern or journey you have observed? AG: 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 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 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. ET: Digital Gold has seen rapid adoption among your users. What is driving that demand, especially among first-time or low-income investors? AG: 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 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 yes, digital gold works, but more importantly, it's becoming a gateway to financial inclusion for a user base previously left out. ET: Your data show that 17% of loan users also invest. What does that say about your users and your model? AG: 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 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 is not just about access. It is about belief helping users believe that they can take charge of their financial future. ET: How many users are you serving today? What does a 'typical' FatakPay user look like, and how is their financial life changing? What is the total loan disbursement to date? AG: We have just crossed 10 million app downloads. From a lending perspective alone, we have disbursed loans to over 1.5 million 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 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. ET: With so many regulatory crackdowns on loan apps, how does FatakPay stay compliant and ethical, especially in collections, consent, and data privacy? AG: 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 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 data privacy, we follow strong encryption standards and have zero tolerance for misuse. ET: What does business growth look like for you and what is fuelling the momentum? How do you plan to scale? AG: 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 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 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.
Time of India
11-06-2025
- Business
- Time of India
FatakPay launches ‘FatakSecure' to simplify digital insurance for Bharat
MUMBAI: FatakPay , a digital financial wellness platforms, announces the launch of FatakSecure , its insurance vertical for India's underserved population. The company is currently in the process of securing IRDAI approval for a composite Corporate Agent License, which will enable it to offer a wide range of insurance products across health, accident, life, and consumables. Targeted at a Pan-India audience with a focus on Tier 2 and beyond, FatakSecure seeks to address long-standing pain points in India's insurance ecosystem, including low penetration, confusing policy structures, and lack of user trust. The platform promises a full-stack digital experience, offering simplified onboarding, transparent terms, personalised product recommendations, and dedicated customer support. Once live, users will be able to access FatakSecure via the existing FatakPay app and website. Abhishek Gandhi , Co-founder of FatakPay, said in a statement, 'India is at a pivotal point in its digital evolution. While digital lending has taken off, insurance penetration remains low at just 4.2% of GDP (IRDAI, 2023), compared to the global average of over 7%. With FatakSecure, we are combining data intelligence, trust, and simplicity to bridge that gap and deliver protection where it matters most.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo FatakSecure is part of FatakPay's broader mission to offer holistic financial wellness solutions, including credit, gold investments, and insurance , on a single platform for India's hardest-working segments, such as gig workers, blue-collar employees, and low-to-mid-income salaried professionals. FatakSecure plans to partner with 10+ leading insurers and offer policy services in five regional languages by FY26, supporting the government's vision of 'Insurance for All'. By aligning insurance products to user lifestyles, risk profiles, and income levels, the platform is designed to reduce friction and boost long-term coverage adoption. Live Events 'This launch is more than a new product; it's a step forward in making financial protection simple, inclusive, and rooted in trust,' added Gandhi. 'Whether it's a ₹20,000 emergency loan, a ₹500 gold investment, or ₹10 lakh insurance coverage, we want to be the most relevant financial partner for Bharat.'
