Instant Loan Apply

1. September 2017

2. FOUNDER PROFILES ROHIT SEN : CEO/ Co-Founder 12 years in finance as a trader Worked at Bank of America, Merrill Lynch and Goldman Sachs. Holds degrees from Oxford University and the London School of Economics. NUPUR GUPTA : Co-Founder 5.5 years in finance as a quantitative analyst and structurer. Worked at Citigroup and Goldman Sachs. Holds degrees from IIT Delhi and University of Waterloo, Canada.

3. THE PROBLEM More than 90% of Indians do not have access to credit through the formal system (World Bank) People are forced to turn to informal channels including money lenders, who often charge very high interest rates. Financial exclusion sharply limits the ability of people to save, invest, and improve their circumstances(Nilekani & V. Shah)

4. EXISTING LENDERS NEGLECT THE “MASS MIDDLE” High Low • Good borrowers across income levels • High operating costs make small loans unviable for banks • MFIs don’t usually offer loans to individuals Formal Lenders Income MFI’s Good Borrowers Bad Borrowers

5. THE SOLUTION….GO DIGITAL. Use of alternative (digital) data allows us to score people that banks cannot. If borrower score is sufficiently high, then we can offer them credit. Digital process dramatically reduces on-boarding costs. User accesses NIRA through our app: quick, easy and convenient.

6. OUR VISION: A world where everyone has access to fast, frictionless finance, at a rate that is fair. OUR MISSION: Promote financial inclusion by creating simple, transparent products that empower individuals to live a life of choice and freedom.

7. WHY NOW? 7%+ GDP growth expected for at least the next 5 years (IMF) Growing Economy Regulatory Environment Smartphone penetration rising rapidly due to falling costs of handsets & data.. Younger consumers are much more willing to take debt DigitalInfrastructure Smart Phones Indian govt. has built strong infrastructure (Aadhaar, India Stack) Consumer Attitudes Financial inclusion is a key objective for the Indian govt.

8. MARKET OPPORTUNITY: India’s Emerging Middle Class 400mmaddressable market by 2020. (Nilekani) Wages may increase 4xbetween 2013 and 2030. (KPMG) 250mm middle class today. Rising to 570mm in 2025(McKinsey) 600-700mmsmartphones in use by 2020 (Credit Suisse) Consumer lending to grow from $420bn in 2016 to $2.1trnin 2025. (Credit Suisse) $420bn of market value creation is “up for grabs” in next 10 years. (Credit Suisse)

9. GO TO MARKET STRATEGY Initially target urban salaried millennials: Have a high adoption rate of new technologies Will share their experiences with their friends and peers Willing to share their personal data in exchange for a product or service (Omidyar Network) Start in Bangalore due to large graduate workforce before rolling out to other cities. Urban Millennial

10. TYPICAL CUSTOMER Profile • Graduates in the early part of their careers. • Earning 2.5 to 6 lacs per year ($3,700 to $8,000). • Salaried employee, paid monthly. • Living in rented accommodation with other graduates. • Active user of smartphone and social media. Expected Use Cases • Consumer durable purchases e.g. laptop, smartphone • Educational courses • Travel / Experiences • Emergency contingencies e.g. unforeseen medical expenses

11. PRODUCT DESCRIPTION Line of credit: Rs. 10,000 to Rs. 100,000 ($150 to $1,500) Repayment term: 3 to 12 months Interest rate: 1.5% to 2.5% per month Drawdowns and repayments electronically to user bank a/c Can use for online and offline purchases No need for repeated applications

12. BUSINESS MODEL Loan Disbursal Application + Drawdown Application + Credit Appraisal NIRA USER FUNDER Notifications Performance Data Repayment • Partnership with Bank or NBFC: use their licence and balance sheet. • Risk sharing arrangement with Funder. Potential for referral programme. • Revenues derive from loan margins to the Funder and referral fees.

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