Anshuman MishraFounder of LoanADDa.com Published On: Tuesday, August 23, 2016 Views 4468

LoanAdda is a financial technology company that delivers a range of custom-tailored financial services with a focus on under-banked and thin-filed consumers. The company’s proprietary algorithm is constantly updated with the lenders’ parameters on daily basis and once the borrower’s details are fed into it, the system quickly shortlists the banks and NBFCs which would be most suitable based on the customer’s requirements. In addition to this, the software also ranks the banks in the ease of doing the loan based on the previous data. LoanAdda wants to improve financial inclusion in India and is the largest online loan aggregator portal in India covering the complete spectrum from lead origination to disbursal in the impact lending space. LoanAdda handholds the customer from doorstep document pickup to getting his credit score for free to finding the ideal financial institution to lend from.

Indian Financial system is mired in unnecessary complications. It is centered on the concept of exclusivity rather than inclusivity. We wanted to break this. We want to make financial products accessible for all. While our systems in the backend are built on most powerful algorithms, at the consumer end, we remain simple and easy to use.         

My life mantra would be “never stop believing in yourself”. The day you stop believing, the life of an entrepreneur is over. You need to keep pushing, keep believing.

Attracting the right talent and retaining them.

I came with an open mind to create a business model around my passion and my strengths of connecting capital with labor.

We are currently bootstrapped and cash flow positive.

Perseverance, Passion, Habits

The most used app would definitely be LoanAdda. Other most used apps are Evernote.

I set small deadlines every day to finish my tasks. Most times it’s a 10 minute deadline. It helps me focus on the job at hand for a minimum required time. As an entrepreneur, your time is spent doing the most mundane things, which don’t directly reflect on the business, but are still an essential aspect. Making these deadlines helps me put things in perspective in terms of how I want to plan each minute of my time. Meditation also hugely helps in increasing my productivity.

The over positivity and enthusiasm that one has as an entrepreneur has to be balanced with the guarded skepticism of a corporate professional considering the ground realities.

• One tip to success:

Ability to stick to your stand inspite of naysayers and contrary advice with patience and perseverance to pursue your dream

• One mistake you believe every individual must avoid:

Judging yourself on a failure and not trying innovative ways of doing the task

• One most important lesson that you have learnt till now:

Failure is not permanent, what matters is your attitude towards an idea going wrong and believing that it is the execution rather than the concept

We plan to be the most valuable Fintech brand in the online loan aggregator space in India. We are planning to expand into deeper into the Indian markets. We are currently present in around 100 cities and plan to cover around 250+ in next 12 months. Apart from that we are also targeting rolling out our services internationally especially in South-Asia with similar economies.

I would have liked to be a part of a startup earlier on in my career wherein I have the opportunity to learn and be part of the decision making fabric of the core team.

Goa, Bhubaneshwar (home), Singapore

“Be temperate in everything, avoid extremes in life”- Bhagavad Gita