InPrime Finserv Officially Recognized as Non-Banking Financial Company by Reserve Bank of India
Bangalore-based InPrime Finserv (legal name – STK credit private limited), a financial services start-up catering to the informal economy, has achieved a significant milestone by obtaining a Certificate of Registration (COR) from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC). With this license, InPrime joins an exclusive group of startups that have received approval from the RBI to build a lending business, achieving this feat in less than five months.

InPrime aims to transform the way informal customers access formal finance in India by identifying and tapping into an untapped segment of the informal economy, which it calls the "Prime" segment.This segment includes progressive households with multiple earning avenues, who are eager to learn and adapt to the evolving digital and financial ecosystem to advance their businesses and personal lives. InPrime recognizes the need for enhanced and tailor-made financial services for this segment, which is largely underserved by the market. By developing customized financial products, InPrime plans to cater to an estimated incremental annual credit demand of approximately Rs. 5 Lac Cr, addressing an unmet need in the market.

InPrime's unique hybrid model leverages digital footprints and conducts comprehensive on-field assessments to accurately evaluate customers' needs, financial capacity, creditworthiness, and risk profiles. Additionally, InPrime plans to empower customers holistically by providing multiple repayment channels and a gamified financial and digital literacy program to promote self-service.

InPrime recognizes that the penetration of smartphones and data has led to an increase in digital services consumption by informal customers. InPrime will leverage platforms such as Aadhar, India Stack, UPI, and Account Aggregator to create a unique value proposition for digitally active customers, focusing on customized financial services as its core tenants.

Rajat Singh, Co-founder & CEO of InPrime, said, "We are thrilled to receive the NBFC license and are committed to making a positive impact on the informal economy in India by unlocking financial inclusion 2.0. It is a general perception that prime segment is only within the formal economy. Whereas we observe sustainable, growing and profitable informal businesses all around us. And there lies the opportunity for InPrime”.

As a responsible lender, InPrime Finserv is committed to comply with all applicable regulations. With their CoR in hand, the company plans to commence operations in Bangalore in the coming months and gradually expand its presence in Karnataka and Tamil Nadu, playing a significant role in promoting financial inclusion in India.

InPrime extends its sincere gratitude to its institutional and angel investing partners, early joiners, tech partners, consulting partners, and all well-wishers for their unwavering support. 

About InPrime Finserv

InPrime Finserv is a brand owned by STK Credit Private Limited, a Non-Banking Financial Company (NBFC) headquartered in Bangalore. InPrime is on a mission to "Redefine the way informal customers access formal finance." It is focused on providing financial services to the "Prime" segment of India's informal economy, which consists of around 50 million households with an annual credit need of Rs. 5 Lakh Crores. These households demonstrate a growth mindset, are transitioning to a less cash-dependent economy, and are gradually adopting digital technologies. They also have a proven credit and financial track record spanning several years.

InPrime's goal is to identify this emerging segment within the informal economy and serve them with customized financial products designed to meet their evolving needs. The company plans to adopt a hybrid approach, combining the successful attributes of traditional lending with modern lending practices centered on data, digital, technology, and innovation. This strategy aims to generate superior financial and non-financial value while focusing on the core elements of financial services: customer connection, engagement, and risk management.

InPrime's lending approach will be characterized by a combination of field assessments and analysis of customers' partially available digital footprints. This comprehensive evaluation will help determine customer needs, creditworthiness, and risk profiles. Prioritizing a customer-centric focus, the company's operations aim to offer a hassle-free onboarding experience and a swift turn-around time. InPrime seeks to empower its customers by providing multiple repayment channels and a gamified financial and digital literacy program to promote self-service.

InPrime is founded by Rajat Singh, Manish Raj, and Sneh Thakur, who collectively possess over four decades of experience in this market segment. As former members of Ujjivan Small Finance Bank's leadership team, the trio brings their expertise in managing scale, handling crises, and driving impact and problem-solving. InPrime is backed by prominent investors such as InfoEdge Venture, Titan Capital, and Kettle Borough VC, along with a supportive network of angel investors.


"Reserve Bank of India neither accepts any responsibility nor guarantees the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for discharge of any liability by the company. "

"Neither there is any provision in law to keep, nor does the company keep any part of the deposits with the Reserve Bank of India and by issuing a Certificate of Registration to the company, the Reserve Bank of India, neither accents any responsibility nor guarantees the payment of deposits to any depositor or any person who has lent any sum to the company. 

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