Dev Chundi's Contact Details

Dev Chundi's Company Details

Impact Micro Ventures

Bangalore, Karnataka, India • 11 - 50 Employees
Financial Services

Impact Micro Ventures (IMV) is a digital intermediary on a mission to democratize lending to all microenterprises in India. With a focus on "no-file" microenterprises (unorganized), we rely on data science and mobile technology to assist traditional lenders in enhancing their credit-reach to enterprises without any verifiable business history.IMV partners with MFIs, NBFCs, and banks in providing loans in the size of $750 to $3000 to microenterprises. We built an alternate data-model with enterprise-data of ~250,000 (and growing!) enterprises across 16 states in India. This model profiles risk of borrowers, enabling lenders to successfully lend to otherwise 'uncreditable' segment.IMV commenced lending in August 2017. Since then, the company has facilitated 200+ loans as of September 2018 and has seen zero arrears in the first seven months of operation. Our data model's results virtually match human judgment with a 0% rejection-rate of applications from our lending partner. The operating expenses have been minimized by going paperless, cashless and branchless. We have built a fully integrated end-to-end loan origination and loan management system to provide self-standing digital infrastructure to our lending partners.