Deepak Modak Co-founder of “KountMoney : An E-lending Platform for Disbursal of Loans” Shares Their Startup Story

Personal Loan sector in the India runs on the outdated credit underwriting system with a lot of paperwork involved in the process. KountMoney is the perfect solution for that and going to change that system. They aim to cater a diverse range of borrowers in a fast and seamless manner, Deepak Modak co-founder of “kountMoney : An E-lending Platform for Disbursal of Loans” shares their wonderful startup story in an interview with our team.

Q.Please Introduce yourself.

Myself Deepak, Co-founder of KountMoney. I have graduated from IIIT Allahabad in 2012 and joined Adadyn (Previously known as Ozone Media ) as Software Engineer,

Q. When and How did you think about kountmoney.com?

We founded KountMoney in August 2015 and launched the company in October. We started the company in Bangalore.

We started the firm with idea of disrupting the lending sector in India. Personal Loan sector in the country runs on the outdated credit underwriting system with a lot of paperwork involved in the process. Turn around time for loan disbursal is high and a lot of financial institutions like NBFCs and low end Banks are tech deficient as well. These bottlenecks result in poor customer experience as well as high NPAs for the financial institutions. Keeping these factors in mind and with a vision to improve the lending sector, we started KountMoney with where we facilitate lending of Personal Loans to borrowers through various banks and NBFCs.

Q. Introduce your Co-Founder/Founders and Team.

Deepak Modak

Deepak worked for over 3 years in Online Ad Technology company, Ozone Media. He has experience in developing products from scratch and is passionate about Web technologies. Deepak is computer science engineer from IIIT Allahabad.

Abhishek Periwal

Abhishek worked as a Decision Scientist at Mu-Sigma in the BFSI domain. He launched the sports & fitness marketplace category in Flipkart. His areas of expertise are statistical modeling, developing predictive models and business development. Abhishek holds B.Tech-M.tech dual degree from IIT Kanpur.

Gaurav Somani

Gaurav has over 7 years of experience in Banking, E-Commerce & Technology sectors. Prior to KountMoney, he was heading Business finance for Electronics category at Flipkart. He has also worked as an analyst at Barclays & ICICI Bank. He is an MBA from FMS Delhi and a Computer Science Engineer from IIIT Hyderabad. He is also a FRM chart holder and has cleared CFA Level II.

Abhi Ranjan

Abhi handled seller acquisition through various digital channels at Flipkart. Previously he was working as a Business Analyst at Deloitte. Abhi Ranjan is an engineer from IIT Kanpur.

Ritesh Gautam

Ritesh was part of the technology team at Flipkart. He is passionate about programming and has keen interest in AI/Machine Learning. Ritesh is Computer Science engineer from IIT Kanpur.

Q. What challenges did you face?

Creating lender tie-ups, Building a team are some of the challenges that we faced while setting up KountMoney. Our focus has always been to be patient and solve each of the problems and keep moving.

Q.Explain more about KountMoney.com, what makes you special and how is it different from others?

KountMoney is an e-lending platform for disbursal of Loans. We have Pan India tie ups with financial institutions like Banks and NBFCs where we aim to cater a diverse range of borrowers in a fast and seamless manner. Customer come to our website and provide the details required in the application form. We analyze the borrower’s profile and provide them them the best deal available in the market.

Unlike other lead aggregators, the deal that applicants get on our platform are curated and best possible for them. They need not waste any additional time and energy wondering if they can get better deal elsewhere.  

As for lenders, before sending a particular profile to them, we apply our first step filtration so as to give them the profiles which we think has the highest chance of conversion. Effectively it saves them money and time.

Read Also : EveryBill: A Solution For more than 10 Million Business Who Are Still Running on Paper Bills in India

Q.What’s your current path and future plans?

We are expanding our lending platform to include other loan products like Home Loan, Education Loan, Loan Against Property, Gold Loans.

In the future we will keep rolling out new products like Credit improvement methodologies and Tech solutions for the financial institutions.

Thank you so much for sharing your story, we wish you all the very best with your venture. If you would like, you can share your views about VID .

“VID is a good initiative to bring on map the journey, struggles and success stories of budding entrepreneurs who might be lost in oblivion.”

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