Ashwin Pingali

Eggoz Raises $20 Mn Series C Led By Gaja Capital; Claims to hit its EBITDA Breakeven In Q4 FY25, Revenue Up 76% YoY To INR 130 Cr FY25 https://lnkd.in/gd9j68rp Abhishek Negi Aditya Singh #Eggoz #funding #D2Cbrands #Agritech #EBITDAbreakeven #Revenuegrowth #Indianstartups #consumerbrands #GajaCapital

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The Post Office : not only for intl parcel and mail but now for international remittances with enhanced connectivity for cross borders movement of money.

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https://lnkd.in/gcaMQvEk Pine Labs plans up to $700 Million IPO in October Pine Labs Ltd., a digital payments provider in India, plans to raise as much as $700 million from an initial public offering in the second half of October, according to people familiar with the matter. The company, backed by Mastercard Inc. and PayPal Holdings Inc., has started roadshows for the planned initial share sale, the […] The post PayPal-backed Pine Labs plans up to $700 Million IPO in October appeared first on Bank Automation News. https://lnkd.in/gzBvNXCM via Bank Automation News https://lnkd.in/gmCUTF5c September 18, 2025 at 02:31PM

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Who controls the rails of digital access? 🇮🇳 ​Critical insights on why India needs a localized, open app ecosystem to sustain its massive digital growth. ​A great read on the work we are doing at Indus Appstore. Priya Narasimhan breaks down the problem and articulates our commitment to broadening the app economy through openness and choice. ​Read the full article below 👇 ​#IndusAppstore #AppStoreForIndia #DigitalSovereignty

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Amazon just acquired Axio and secured a direct lending license in India. 👉 Does this mark the start of e-commerce giants becoming NBFCs in disguise? On one hand, Amazon brings distribution muscle, embedded finance, and world-class tech. On the other hand, lending is not a checkout button — it’s underwriting risk, regulatory scrutiny, and consumer trust. As fintech builders, we should ask: Will RBI’s guardrails (digital lending guidelines, data localisation, FOIR checks) limit Amazon’s advantage? Or will this force banks + NBFCs to finally modernize distribution? My take: Amazon will succeed in customer acquisition but compliance + credit risk will determine if this is sustainable. #Fintech #DigitalLending #EmbeddedFinance #AmazonIndia https://lnkd.in/gTkcGv3Q

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OneCard rewrote the rules of the credit card category in India: no hidden fees, full control, metal meets mobile. #AnuragSinha, Vibhav Hathi, and Rupesh Kumar didn’t just build a great fintech product. They built trust at scale. We backed them before the first OneCard card shipped. Now, they’re leading a quiet revolution. Love the #BackTheBold campaign by Razorpay bringing together Indian’s boldest founders. Harshil Mathur, Shashank Kumar, Rajat Agarwal, Vikram Vaidyanathan, Tarun Davda.

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#Post4 We have spent three posts mapping the lending lifecycle. But a lifecycle does not run itself. Behind every loan sits a web of players, each with different roles, incentives and risk appetites. Most PMs entering lending underestimate this web.And that gap causes more product mistakes than anything else. Let’s break down the key players The Borrower: The one who needs capital. An individual or a business/ Salaried or self-employed/ Prime or subprime etc. The Lender:The entity that actually takes the credit risk. In India this is typically a bank or an NBFC.They own the loan on their books. If the borrower defaults, the loss sits with them. They also operate under RBI regulation. Bank vs NBFC: Banks and NBFCs play different roles in the ecosystem. Banks •Lower cost of capital •More regulatory oversight •Slower innovation cycles NBFCs •Higher cost of capital •More flexibility and speed •Stronger focus on niche lending segments In many modern lending setups, both work together like in co-lending, banks provide capital while NBFCs handle sourcing and underwriting. Direct Selling Agents: DSAs source borrowers for lenders.Think of them as the feet on the ground. They do not take credit risk. They get paid per loan sourced, usually as a percentage of disbursement. Their incentive is volume, which means it is not always aligned with loan quality. Loan Service Provider (LSP): Fancy name for the digital-age DSA.LSPs run the customer-facing apps and platforms. They handle onboarding, collect borrower data and pass it to the lender. Under RBI’s digital lending guidelines, LSPs cannot handle loan funds directly. Money must flow from lender to borrower and back, without passing through the LSP. Ex : Bankbaazaar, Paytm, PhonePe etc. Co-Originator : In a co-lending arrangement, two entities originate the loan together. Typically a bank and an NBFC.The borrower sees one loan. Behind the scenes, two balance sheets share the exposure.The default RBI structure is 80:20, with the bank taking the larger share. Credit Bureaus: Entities like CIBIL, CRIF, Experian.They aggregate credit history across lenders and produce credit reports. Every bureau pull is recorded.Too many pulls in a short time can itself become a risk signal. Collection Agencies: When internal collections fail, lenders outsource recovery. Collection agencies work on a success fee model, earning a percentage of recovered amounts. Their activities are governed by RBI’s fair practices code. We now understand the lifecycle and the players.But none of this runs manually. Underneath all of it sits a stack of systems: LOS, BRE engines, scorecard models, LMS, payout systems, reconciliation infrastructure and collections tech. Each stage of the lifecycle runs on one of these systems. And a PM who cannot speak the language of these systems will always depend on engineers to explain what is possible. We will start unpacking these systems under the hood in the next posts.

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