Finomena

At Finomena, we're solving an insanely huge problem with lending in India. One needs to have a credit history (hence a credit score) to be able to get a loan through most banks and NBFCs. However, around 98% of the people in our country have never taken a loan, and hence do not have a credit history. These people might not have the data required by traditional methods to risk-assess them, but they do have a smartphone and internet connection, and thus leave a massive digital footprint. Number of smartphone users in India is growing exponentially, it stands at around 45 crore today, and is expected to grow to 80 crore in the next few years. India is transforming from a data-poor to a data-rich country. Finomena gather this data and analyse it using complex Machine Learning algorithms on over 22,000 variables, to risk-assess approx. 80 crore individuals who are not considered creditworthy by other lenders. One can buy anything he/she wants (mobiles, phones, laptops, etc.) on self-customised EMI plan through Finomena. He/she does not need to have a credit card. This way, we are empowering millions of Indians by providing them access to credit so that they can do more and be more in their lives.

Location shown on map (Bengaluru, India). Exact address is shared after you connect.