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Yenmo

Y Combinator LogoW24
Active
fintech
lending
consumer-finance
 
https://yenmo.in/

Secured consumer lending in India

Yenmo offers a better way to access cash for India’s 65 million investors who either resort to personal loans at over 18% interest or have to liquidate their investments when in need of money. With Yenmo, they can pledge their investments digitally and instantly get a loan at a fixed 10.5% interest rate. Our Insight - In India, over 30% of personal loan borrowers have active investments and are paying double the interest rate they qualify for with us.
Yenmo
Team Size:5
Status:
Active
Location:Bengaluru, India
Group Partner:Tom Blomfield
  
Active Founders

Ashutosh Purohit, Founder

Passionate about providing the best financial solutions for Indians! At Navi, I led the creation and growth of their Mutual fund arm, going from 0 to $625M AUM in a year. Previously, at Swiggy, I spearheaded expansion from 30 to 500 cities in 1.5 years.
Ashutosh Purohit
Ashutosh Purohit
Yenmo
  

Aryan Agarwal, Founder

Finance and Tech enthusiast working towards empowering Indians with new and innovative credit solutions. Worked at Browserstack for 2 Years before starting a Capital Management Company based out of India with over $2 million AUM.
Aryan Agarwal
Aryan Agarwal
Yenmo
  
Company Launches
Yenmo - Instant loans against investments
See original launch post ›

TL;DR: Yenmo offers a better way to access cash for India’s 60 million investors who either resort to personal loans at over 18% interest or have to liquidate their investments when in need of money. With Yenmo, they can pledge their investments digitally and instantly get a loan at a flat 10.5% interest rate.

Our Insight - In India, over 30% of personal loan borrowers have active investments and are paying double the interest rate they qualify for with us.

🧨 What is the Problem?

In India, with over 60 million investors in stocks and mutual funds, a staggering 50% of individuals resort to personal loans to fulfill liquidity needs.

When these investors need funds, they are faced with two unfavorable options:

1- Liquidating investments, which means losing out on the compounding growth of investments and also often incurring capital gains taxes of up to 35%

2- Taking out a personal loan at over 18% interest.

Many investors have earmarked their investments for specific future needs, such as their child's education or their retirement. For these individuals, liquidating investments is a last resort, leaving them with the burden of high-interest personal loans.

🛠️ Our Solution:

Introducing Yenmo! We empower Indian investors to borrow against their investments [such as Mutual Funds and stocks] at a flat 10.5% interest rate, all in less than 5 minutes. Developed in collaboration with leading financial institutions and government agencies, we are revolutionizing how investors access liquidity.

With us, investors can view all their investments in real time, select the assets they wish to borrow against and receive funds directly into their bank accounts. This allows their investments to continue growing for the long term while fulfilling immediate financial needs effortlessly.

https://youtu.be/vqAbEj-9apA

🌟 Our purpose

To empower every Indian with the best financial solutions tailored to their unique conditions. We believe Loan Against Investments is an excellent starting point for this endeavor. Despite being ideal for the Indian market, this product is currently either not offered by financial institutions or when offered, is a very tedious process.

We aim to provide better financial products to customers by reimagining loans, credit cards, credit on UPI, and BNPL services in a way that can leverage their investments to unlock more value.

Ultimately, our goal is to evolve into the go-to destination for all Indian consumers seeking comprehensive financial solutions.

👨‍💼 About us

Ashutosh started digging deep into the problem while he was working at one of the largest fintechs in India. He discovered over 30% of users who were taking a personal loan had active investments but they just weren’t aware of an option to take a loan against their investments. He quickly called the best coder he knew - Aryan, who was running a capital management company, to join him to build something big! Apart from being from the same college, both of them have a shared passion for being deeply obsessed with financial products.

In photo (left to right) - Ashutosh Purohit, Aryan Agarwal

Download Yenmo today!  Apple App Store | Play Store

Don't let high-interest loans hold you back. Download Yenmo today and unlock the full potential of your investments, with easy access to liquidity when you need it most.