Indian lendtech Spoon readies for launch
Spoon is a new Indian micro lending firm in the works, targeting a near-future launch of its mobile app that aims to make micro loans accessible throughout its home country.
Indian millennials get a mobile micro lending option
The firm says that it is targeting millennials, making the service available via mobile 24/7, 365 days a year.
One of its cofounders, Vivek Sasidharan, says: “I want to build something that will help a lot of people. You feel something special when you make someone’s life easy for them.”
Sasidharan founded Codeister Technologies, being CEO of the firm. Its first product was an expense tracker for the Android app with digital wallet support.
Codeister Technologies was acquihired by CareStack – a tech provider for the US dental market. Sasidharan then became a software engineer for the firm.
The website, which contains a surprisingly large number of spelling and grammatical errors, says: “With Spoon, you don’t have to worry about the hefty interests anymore. We charge only a small interest. We don’t have any hidden charges as well.”
The firm delivers the lent money to the user’s e-wallet. Through the app, users may upload a selfie and a photo of their Aadhar Card and PAN Card to complete the application process.
The loan will get credited to their account in 48 hours, if approved.
