Pocketly Infotech Private Limited

Pocketly Infotech Private Limited is a fintech company specializing in providing digital personal loan services tailored for young professionals in India, addressing their short-term financial needs efficiently. Founded in 2019 and headquartered in Nagpur, India, Pocketly Infotech Private Limited focuses on offering digital personal loans. The company has successfully completed a total of 7 deals, with its most recent funding round occurring on March 3, 2022, where it raised INR 65. 050 mn led by Dholakia Ventures.

The founders, Aarav Bhatia and Navdeesh Ahuja, have ventured into this space to cater to the growing demand for accessible financial solutions among young Indians. The company has raised a total of INR 65. 050 mn to date, with a current valuation of INR 33,581. 742 mn.

Pocketly offers digital personal loan services tailored for young professionals in India, addressing short-term financial needs such as daily expenses and month-end cash flow shortages. Their core product is a fully digital, streamlined loan application process that enables users to secure loans ranging from ₹1,000 to ₹50,000 within minutes. The service emphasizes minimal KYC requirements and a user-friendly interface designed to enhance customer experience. Additionally, a referral program incentivizes user engagement by allowing users to earn cash back rewards, primarily serving a customer base of young professionals and students.

In the most recent year, 2023, Pocketly reported a revenue of INR 2,276,033 and an EBITDA of INR 1,639,502. 4. Revenue is generated through interest on the personal loans disbursed by the company, which features flexible repayment terms and affordable EMIs. Operating on a direct-to-consumer model, Pocketly allows users to apply for loans through its mobile app, expediting the transaction process without the need for physical documentation.

Following the March 2022 funding round, where Pocketly raised USD 1 million as part of a larger USD 3 million equity and debt financing led by Dholakia Ventures, the company plans to utilize the funds to expand its product portfolio and scale up loan disbursements. Future initiatives include the design and launch of new financial products aimed at enhancing service offerings. Pocketly is also set to explore expansion into additional geographic regions, targeting urban areas across India by the end of 2023.