SECTOR:
Fintech
HEADQUARTERS:
MUMBAI
IVY CAP INVESTMENT:
2015

Sanjeev, Deepak and Vaibhav financially uplift micro-merchants in India!

Millions of small and micro businesses dealt in cash-only transactions in an increasingly cashless India. ftcash is a neobank that aims to empower these underserved businesses by giving them access to digital payment solutions, hassle-free loans, and easy repayment options. Their tech-driven platform enables quick payment transactions by aggregating all types of payment options - credit cards, debit cards and mobile wallets, under one channel.

Today, ftcash is supported by leading companies in the world and is one of the fastest-growing Fintech companies in India, as it empowers 60+ million micro-merchants. The award-winning company has also been recognized by the President of India and was honoured by TRH, The Duke and Duchess of Cambridge, for its work in financial inclusion.

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A relationship built on encouragement, trust and endless support
IvyCap's mentorship platform is pretty unique and awesome. As an entrepreneur you always dream about access to a pool of extremely qualified people who are ready to pitch in. Here we have access to it. At ftcash we have been leveraging this platform for expert guidance, bounce new ideas off and build new connections which have been instrumental in growing the business.
- SANJEEV CHANDAK,
FOUNDER
IvyCap has been an extremely integral part of our journey from Day 1. I still vividly recall discussing the idea with Vikram in its initial days to subsequently pitching them for our seed round and they have been actively engaging with us over the years. The mentors help provide actionable feedback, given their own experiences and in several cases work closely with the teams. IvyCap has actively helped us leverage the IvyCap ecosystem- startups, LP's and stakeholders for collaboration opportunities by being the central catalyst.
- DEEPAK KOTHARI,
CO-FOUNDER
IvyCap has been the bedrock of our tremendous growth over the course of ftcash journey since seed round back in 2016. The IvyCap team has shared timely mentors and connections to help us scale our business at breakneck speed. Vikram and Ashish have also personally evangelised ftcash to ensure that our visibility commands attention of potential investors and partners. Their support, that has been far more than capital, has empowered us to remain true to our vision.
- VAIBHAV LODHIA,
CO-FOUNDER
FOUNDERS
Sanjeev Chandak
Founder & CEO
Sanjeev is an alumnus of IIT Kharagpur, India. He completed his MBA from the Wharton School of Business and spent over 17 years in the United States working as a director for Capital One, where he led various initiatives in marketing, credit policy and much more. Sanjeev also served as the Deputy CFO for Deutsche Bank, India, before starting his own venture. Using his extensive knowledge in the field of financial services, Sanjeev leverages data and AI/ML-based credit risk models to enable sub-prime lending across the US and India.
Deepak Kothari
Co-founder & COO
Deepak is a professional Chartered Accountant and has over 13 years of experience working as a management consultant. He has worked with respected global players such as KPMG and Grant Thorton, where he led various strategy-related projects. With his vast experience in leading teams on consulting projects in the financial services space and a deep understanding of operational effectiveness, he became the co-founder of ftcash - the fastest-growing neobank in India
Vaibhav Lodhia
Co-founder & CBO
Vaibhav is an engineering graduate from the National Institute of Technology, Tiruchirappalli, and an alumnus of the Harvard Kennedy School of Government, USA. He has spent a decade leading the intersection of technology, entrepreneurship and policy, at organizations such as XPRIZE, The World Bank, and LGT Venture Philanthropy. He was recognized at Davos50 by the World Economic Forum, Goalkeeper by Bill and Melinda Gates Foundation, and is a fellow at numerous globally recognized institutions.
Their
Winning
Edge

01

Market Gap
Addressing a gap, where most established large digital platforms are addressing higher ticket sizes with a large opportunity in lower ticket size segment.

02

Robust Tech
Strong focus on technology & alternative data to build customized products, quick convenience for borrowers and reduced risk for lenders.
CLOVIA IN COVERS
Lending start-up Ftcash raises ₹50 crore from FMO, Accion, IvyCap Ventures

Lending start-up Ftcash has raised ₹50 crore in a Series A round led by two new investors — Dutch development finance institution FMO, and Accion International, a US-based non-profit investor focused on fintech start-ups — a senior executive told 'Mint'.

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