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A tech firm with an NBFC licence: how Apollo Finvest reinvented legacy in two years

Apollo Finvest, in its new avatar, is trying to change the fintech-lending landscape with its tech-first approach. But its high default-guarantee norm and fintech firms’ ambition to go it alone once they reach scale may come in the way. The company should also prepare in case the regulator raises data-privacy concerns around digital lending and asks other uncomfortable questions.
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artisingh
22 Jun 2020 16 Mins Read 9 comments
Diksha Nangia, CFO and director, Apollo Finvest, and its CEO Mikhil Innani. Image credit: Apollo Finvest
Diksha Nangia, CFO and director, Apollo Finvest, and its CEO Mikhil Innani. Image credit: Apollo Finvest
Mikhil Innani is a self-confessed tech geek. But the PharmEasy co-founder, despite his “obsession with technology”, never imagined himself stepping into the financial-services space even though it ran in the family. But blood is thicker than water. It was proved once again. In December 2017, Innani, who worked as a director-product at Hotstar after quitting PharmEasy, decided to
says partnership model is fine but why the company does not have its direct-lending channel, too.” Innani has a ready answer, “The biggest reason fintechs come to us is that they don’t fear competition in us.” But for a fintech to become a billion-dollar business, the ecosystem needs to grow first. ( Graphics by Sadhana Saxena)
Mikhil Innani is a self-confessed tech geek. But the PharmEasy co-founder, despite his “obsession with technology”, never imagined himself stepping into the financial-services space even though it ran in the family. But blood is thicker than water. It was proved once again. In December 2017, Innani, who worked as a director-product at Hotstar after quitting PharmEasy, decided to says partnership model is fine but why the company does not have its direct-lending channel, too.” Innani has a ready answer, “The biggest reason fintechs come to us is that they don’t fear competition in us.” But for a fintech to become a billion-dollar business, the ecosystem needs to grow first. ( Graphics by Sadhana Saxena)

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user Miten Sampat Times Internet, VP Corp Dev

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user Arti Singh ET Prime, Assistant Editor - Fintech

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