Credy: Founder, Funding, Business Model And Competitors


About Credy

Credy, an online FinTech platform connecting borrowers seeking capital with lenders seeking a market in India. The full stack lending company is focused on customer financing partner for Indians. Credy works to revolutionize Indian personal loan market using technology, data, and potential financial risk management to the borrowing and lending.

Credy’s digital engine facilitates instant online credit profiling through credit bureau integration and algorithms. The digitized FinTech company also serves as a mobile credit line for specific end use namely school fee payments, debt consolidation, and medical emergency. The platform is backed by Aadhaar and IndiaStack, placing India at the frontier of financial innovation using the enhanced technologies and updated systems.

Inception & Founders

Credy is incepted in Dec 2016 at Bengaluru, India by new entrants who are ex-Goldman Sachs employees Harshit Vaishnav, Pratish Gandhi, and Abhash Anand.

The trio says that Finance and Policy is something that interests them a lot. They realized that access to credit in India is bounded due to profiling mechanisms, lack of relevant data and lack of good authentication. The company lent to rural entrepreneurs through technology-enabled platforms realizing the risks can be controlled if things are done well.

Why is Credy important?

Credy facilitates small-ticket, school fee and online personal loans by collaborating with NBFCs for lending. The complete customer cruise is on Credy mobile and its web applications. The average ticket size provided is less than Rs 50,000, and it is primarily through an online process.


  • Low CIBIL Allowed for the customers.
  • Refinancing Credit Card bill.
  • Providing education EMIs and expenses.
  • Taking a short-term loan and pay back when salary is received.
  • Quick disbursal for an emergency like medical treatment where instant loans for emergency.

3 Simple online process to benefit customers

  1. Apply online to get instant approval by submitting a loan.
  2. Credy instantly approves the verification process.
  3. Finally, you need to sign digitally and submit Aadhaar, and you will be loaned money in the bank in 24 business hours.

Business Model

Credy is based on Peer-to-peer (P2P) platform for lending loans to the customers through online within a tap on the screen.

Credy provides tailored financial products to the Indian consumer through financial innovation, enhanced technology, and a customer first approach. The fintech startup has an automated eight channel repayment management tool for in-house customizable loan management system (LMS) and strong track record of risk management.

The trio invested a lot of money and time into fraud prevention primarily gearing towards weeding out frauds like submission of counterfeit documents. As we know the company is generally known for its technology, it launched a borrower mobile app after months in beta testing.


Credy has raised a total of $1.5M with 4 investors funding to the company. The startup is backed by Y Combinator funding $1.4M to facilitate credit and economic growth via financial trust, speed, innovation, and responsibility.


i2i Funding, Lendbox, and i-LEND are the prime competitors to the Credy startup.

Credit Ready Facts

Credit Ready is simplified as Credy. The Bengaluru startup interest rates range from 10% to 12% per annum, with an average ticket size of INR35,000 ($540). The average repayment tenure is 8 months providing digital engine technology and more facilities for the people.

In the future, Credy plans to expand its loan book, fund operations and to continue investing in great talent. Their main focus is on spot customers who are not directly aided by financial institutions and structuring viable financing products for customers. The fintech company plans to splurge loans worth Rs 100 crore in the coming years without compromising on the credit quality of customers.


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