In a positive move towards simplifying finance in India, FINCOVER®, a Chennai-based fintech startup, propels forward in its journey with a vision to bring financial solutions to every nook and cranny of the country. Founded by tech entrepreneur Naresh Rajaram and his team, the platform emerges as a consequential player in the Indian fintech landscape.
Introducing FINCOVER®: Simplifying Finance for All
Emerged from the passion of three entrepreneurs, Naresh Rajaram, Gurumoorthy A, and Manjunath T, FINCOVER® was incepted with a mission to simplify finance. Their primary focus was to bridge the gap of financial unawareness prevalent in the country, offering a one-stop solution for finance. FINCOVER® thus, serves as an online marketplace for insurance policies, investment schemes, loans, banking products, and credit cards. They partner with all leading insurance companies, banks, NBFCs, fund houses, and investment companies, ensuring a broad spectrum of products offered.
Rapid Growth and Expansion of FINCOVER®
Reaching impressive milestones within a year of its launch, FINCOVER® disbursed loans worth 150+ crores and 50000+ policies. Standing among the top 5 DSAs of India, they’ve partnered with more than 20000 Point of Sales persons for extensive reach. Furthermore, the platform does not charge its customers. The major revenue source of FINCOVER® lies in the fees they receive from banking/insurance partners for every transaction on their sites.
The Future Vision and Goals of FINCOVER®
Equipped with an ambitious roadmap for 2023-24, FINCOVER® aims to scale its business and expand operations to Tier II and Tier III cities. The founders reiterated their focus on areas where financial planning and awareness are minimal and emphasized their role in enlightening these populations on financial planning and insurance. In the upcoming years, the company targets a 5X growth and aims to cross Rs. 500 crore in annualized disbursal run rate.
In conclusion, with FINCOVER®, finance is made uncomplicated, enabling users to efficiently search, locate, and connect with the best financial products that cater to their needs. The platform’s significant strides in its journey reflect its commitment to achieve 5x growth in the coming years and breakthrough the challanges of the Indian fintech landscape.
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