Smartcoin Financials Pvt Ltd
Providing short-term credit to the financially underserved in India, using alternative credit assessment algorithms
About
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Headquarters
Bangalore, Karnataka
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Since
2016
SmartCoin is a micro-lending startup that extends personal loans to mobile users using its proprietary data science and machine learning algorithms. Read more It assesses the borrower's risk profile and credit score prior to approving the loan amount, and does not require collateral for loan processing. It also educates customers about maintaining a good credit score in an attempt to encourage positive borrower behaviour. As a consumer lending startup, they are client-focussed and work towards simplifying the entire loan cycle step-by-step to make credit more accessible for individuals from middle-income and low-income families. The technology-enabled approach bypasses traditional barriers in getting loans and allows low-income borrowers to be eligible for loans with minimal formal documentation. It also has a mobile app for those looking to get an instant loans, and has an entirely digital process for loan application and disbursal.
Action
SmartCoin offers digital personal loans, credit health checks, digital gold savings, and insurance products to self-employed and salaried individuals in the emerging and underbanked segments in India.
Cause Area
Impact
SmartCoin has grown its user base to 20 million customers across 19,000+ pin codes in India, facilitating cumulative loan disbursals of around 900 crore rupees.
Vision & Mission
SmartCoin's mission is to create India's largest fully automated financial inclusion organization by providing an array of financial services to the underserved segments.
Programs
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Programmes & Services
Smartcoin Financials Pvt Ltd offers instant personal loans through a secure and completely digital process accessible via mobile devices, providing swift loan approvals within minutes of application. The programme includes a Gold Rewards system where users can accumulate gold rewards by ensuring prompt loan repayments, referring friends, and engaging in other activities. Additionally, the organisation facilitates Gold Savings by enabling individuals to invest as little as ₹10 in 24K, 99.9% pure digital gold, fostering a means to nurture and expand their savings. To assist in financial discipline, it also provides users with the opportunity to check their Credit Bureau Score at no cost.
Milestones & Track Record
SmartCoin achieved profitability in FY22 and rebranded to Olyv in 2024 to expand its product offerings beyond lending.
Leadership Team
Demographics & Structure
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No. of Employees
100+
M&E
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Internal, External Assessors
No
Policies
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Ethics and Transparency Policies
No
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Formal CEO Oversight & Compensation Policy
No
Political & Religious Declarations
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On Affiliation if any
No
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On Deployment Bias if any
No
Registration Details
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Registration ID
U67110KA2015PTC084272
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FCRA
Not Available
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CSR Registration Number
Not Available
Location
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Headquarters
Indique Gamma, No.293/154/172 1st floor, outer ring road, Kadubeesanahalli, Bangalore, 560103
Directions
Other Details
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Type & Sub Type
For-profit
Private Limited Company