SahiBandhu Empowers MSMEs Financially

SahiBandhu was designed with the goal of giving people a simple way to obtain gold loans. With its end-to-end loan management lifecycle, starting with sourcing and disbursement and ending with collection and closure, the company aims to close the gaps in the market.

Sharing is caring!

SahiBandhu is an industry-leading gold loan aggregator platform. Working with a customer-centric approach, the company provides end-to-end gold loan lifecycle services. Aligning its efforts with the Digital Bharat vision, the firm focuses on resolving major challenges faced by the population at large – better utilization of idle gold, lack of facilities for availing gold loans easily, and breaking the stigma associated with the same by providing quick gold loans at affordable rates right at the customers’ doorstep. The organization has partnered with lending partners (banks) to ensure financial inclusion, doorstep banking, and customized loan services to customers. 

Indian households usually prefer investing in gold. With over 25000 tonnes of household gold holdings, the brand observed that customers have access to a gold mine. However, it is usually a dead asset stored in lockers. SahiBandhu believes that if used smartly, it can help fulfill the business and personal financial needs of the citizens. The company envisions monetizing this idle gold so that customers understand its potential and power while making good use of it. 

Even in today’s modern times, gold loan is considered taboo in some parts of the country. Adding to this, the lending market in the country is highly unorganized. As a result, customers face the risk of getting exploited when taking loans against gold and often bear interest rates as high as 25-50% per annum. Additionally, they deal with challenges like data privacy and lack of transparency in lending rates. Even in the organized lending markets, which are equipped by banks and NBFCs, lengthy documentation, low awareness levels of gold loans offered by banks, limited access to low-income groups in rural towns, and social stigma associated with visiting a bank branch for gold loans have their own obstacles. 

Aiming to overcome these hurdles, SahiBandhu was conceptualized with the ambition to offer people an easy way to avail gold loans. The company strives to bridge the gaps that exist in the market with its omnichannel customer acquisition model and end-to-end loan management lifecycle, right from sourcing and disbursement to collection and closure. With technology as its core, SahiBandhu is growing rapidly and envisions progressive times ahead with its innovative model and focus on investment in its tech architecture. 

Incorporated in 2019, SahiBandhu, a portfolio company of The Manipal Group, is the brainchild of industry experts Mr. Rajesh Shet, Mr. Anuj Arora, Mr. Vijay Malhotra, and Mr. Virendra Yaduvanshi. It was Mr. Rajesh’s diverse experience and passion for introducing innovation in the affiliated jewelry business that prompted him to incubate SahiBandhu within The Manipal Group itself. The Co-Founders were able to access group resources for their market surveys and a better understanding of the market for laying the foundation of the company. 

Customers can easily connect with the firm through its website and social media pages, as well as via its network of 400+ FOS. They also have a dedicated toll-free number to ensure premium customer service. Loan fulfillment depends entirely on the customer’s convenience. It can be done at the bank’s branch or at the customer’s doorstep. Simultaneously, the company guides and handholds the customer through every stage of the loan lifecycle.

Headquartered in Gurgaon, SahiBandhu has built a robust pan-India presence with significant footprints across Tier-3 cities. The company’s expansion and market dominance have been facilitated by low competition outside of major metropolitan areas. With its gold-backed credit cards and gold-backed investments, the company strives to expand its presence in Tier-1 and Tier-2 markets going forward.

Since its inception, the company has grown significantly with its capital-efficient strategy. Minimum capital investment and low cash burn pave the way for assured profitability. Currently, SahiBandhu is disbursing more than INR 300 crores each month. In the last six to eight months,  the company has been witnessing an 8-10% month-on-month growth. 

SahiBandhu intends to be the industry leader and emerge as the country’s largest gold loan aggregator platform in the future, owing to its data-driven approach to product design, rich tech infrastructure, and strong physical presence. The company aspires to be the country’s one-stop shop for the gold loan ecosystem, with a reputation for smoothly managing loan origination, fulfillment, and appraisal, as well as vaulting, repayment, and loan closure.

Mr. Rajesh Shet is the Co-Founder and CEO of SahiBandhu, an industry-leading gold loan aggregator platform that provides end-to-end loan lifecycle services. His dynamic acumen and foresight empower him to spearhead the company, helping bolster the gold loan ecosystem in India. 

Mr. Shet has over twenty-six years of experience across diverse fields, including ITeS, FinTech, and financial services. During his association with The Manipal Group for the last 16 years he was instrumental in creating and building new lines of businesses in the BFSI domain. In 2019, he incepted SahiBandhu with a mission of touching lives across the lengths and breadth of the country with a tech-enabled gold loan platform. Mr. Shet’s extensive experience in incubation, sales, and general management, combined with his enthusiasm and personal background in the linked jewelry business, equips him to lead and build SahiBandhu.

Under his leadership, the company has grown multi-fold by building a robust presence across India, especially in Tier-3 cities. He envisions making SahiBandhu a one-stop shop for the gold loan ecosystem, with a reputation for smoothly managing loan origination, fulfillment, and appraisal, as well as vaulting, repayment, and loan closure. They have successfully disbursed gold loans worth ₹5800Cr across 250+ cities and served more than 5400 pin codes across the country. Five years down the line, Mr. Shet aspires to make SahiBandhu India’s leading gold aggregator platform. 

At the company’s helm, he believes in empowering his team and creating a progressive work culture. Mr. Shet is a firm believer that people make the organization; therefore, building an environment for them to thrive is essential. 

A visionary and a thought leader, Mr. Shet engages in industry forums and events as a speaker and moderator. He is a part of the NPCI’s Banking Forum and FICCI FinTech committee. Mr. Shet holds a B.E (Electronics and Communication) from Karnataka University. 

In his downtime, Mr. Shet likes to read, listen to music, and travel. He is a fitness enthusiast and takes an active interest in sports. He is also diligently involved in social services, majorly helping the underprivileged, as well as providing educational support to disadvantaged students. 

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: