CapitaWorld: Simplify lending Requirements for Retail & Corporate Customers

CapitaWorld is a unique fund raising platform, which is created as a one stop solution for the financial requirements of not only Fund Seekers (Individual/ Businessman), but also for Fund Providers (Banks/ NBFCs/ Other High Net Worth Individuals and Groups) and Service Providers (CA/ CFA/ CFP/ Investment Bankers and other finance professionals). In an interview with Insights Success, Jinand Shah Founder of Capitaworld gave some insightful views about digital platform and highlighting the necessity of financial banking sector in current market.

Please tell us about the journey of your Company from its initial days, the growth, and its expansion.

Capitaworld platform private limited, established in 2015, started with a small team of 8 people with a clear focus in mind to establish a unique digital platform which can simplify all lending requirements not only for retail customers but also for some corporate customers. From a small team in march 2015 to a team of 70 young, dynamic and enthusiastic team with 5 major departments depicts growth journey of capitaworld as robust funding platform. Capitaworld has been now positioned as a technology platform which can serve digital requirements of Banks/Nifco in current market scenario and has already tied up with multiple Banks/Nifco on digital node, not just as a business provider but also as a white label technology platform. Capitaowlrd has been now present at national level in India as well as various Middle East emirates. Capitaworld has also been awarded second best technological and innovative product in 2017 by IDRBT (RBI’s technological and innovation wing). Capitaworld is amongst first 5 fintech startups across globe which has been incorporated by Abu Dhabi regulatory lab.

What inspired you to come up with this idea, which changed the Startup World?

Being a chartered accountant and international CFA, i always aspired to transform lives of many by disseminating technological advancement into financial sector. i previously had been associated with various mid and large corporates, facilitating their funding requirements and that is where the ideation of capitaworld happened. there were lot many human interventions, processes undefined, non-uniformity in credit decision, manual collection of documents and longer tats etc. to eliminate all these, i aspired to develop a digital platform which not only eases fund seekers life but also banker’s life to help them with system which facilitates number of tools enabling and aiding smart credit decision.

Briefly tell us about the CEO/Founder of the company.

Mr. Jinand Shah has more than 11 years of experience across various segments including Financial Sector, Manufacturing, Ports & Infrastructure Projects, as well as Service segments. His expertise includes Commercial and Financial aspects in relation to large Projects and handholding the same. Having an excellent academic career, by Qualifications he is CFA (US), CA (India) Rank Holder, DISA, Certified in International Taxation – Valuation – Forex & Treasury (ICAI).

He is the main Founder Promoter behind this idea and has been actively looking into the automation and digitalization of Banking Sector and the Financial Industry. His Key role in CapitaWorld has been to look into overall strategy and also creation of complete functionalities to ensure simplified and seamless integration of all verticals and flow of information in the Platform.

What are the unique services/ products provided by your Company?

CapitaWorld is a unique fund raising platform, which is created as a one stop solution for the financial requirements of not only Fund Seekers (Individual/ Businessman), but also for Fund Providers (Banks/ NBFCs/ Other High Net Worth Individuals and Groups) and Service Providers (CA/ CFA/ CFP/ Investment Bankers and other finance professionals).

Capitaworld contains all the major products existing in financial market which is high in demand. The product line has been bifurcated in to corporate loans as well as retail loans. The corporate product mainly consists of working capital, term loan; lap etc. whereas retail loan consists of home loan, education loan, gold loan, auto loan etc.

capitaworld has devised a unique concept of one form by filling which the end user gets connected to multiple banks and nbfc digitally. The customers can track real time the existing application status along with getting connected to right banker/s. On other end, bankers get right proposal to their dashboard as capitaworld has unique service of filtering the proposals as per the eligibility criteria set by the bankers. this filters and enables right proposal to get connected to right bank/nbfc.

The concept of capitaworld has also been backed by various artificial intelligence based smart features developed by in-house R&D team of capitaworld which includes, but not limited to, smart video conferencing module, chat bot, social profiling etc.

Kindly brief us about your strategies behind those services/products. If possible, kindly give us a one line unique quote that best describes your company.

ONE LINER DESCRIBING CAPITAWORLD:

A unique Smart Loan Disintermediation Platform and a One Stop Shop Solution for  All MSME and individual loan Requirements

Key strategy behind launching this product strategy is to cater to key requirement of Indian loan / credit segment. The off late focus has also enabled capital for financial inclusion of micro loans as well which has been top priority of GoI. capitaworld platform has already developed a platform which can do smallest of a loan to highest of the loan amount. there may be banker’s prerogative of having personal discussion, although capitaworld platform provides the same service through its platform as well. with recent association of capitaworld with a well acclaimed due diligence team, it facilitates the bankers to not just have digital feel but also gives them the option of physical due diligence done by capitaworld’s team as well enabling good foot presence in market across India to facilitate digital drive in initial phase.

How do you work on your long-term relationship with your clients?

Client has always been king for capitaworld and there is an experienced back office team which continously maintains client relationship. capitaworld system has been designed specifically keeping the most transparent approach possible for customers. capitaworld provides the end customers the right to select the fund provider they feel comfort in and eradicates all bias possible at human end. capitaworld also provides client to enlist a list of negative banks if any which enables customer to deselect the bank he/she does not want his/her application to go.

as far as system is concerned, captaworld auto saves the last uploaded data of customer which facilitates them when they login for their next application, then, most of the data is auto populated and hence easing customer’s application process to great extent.

Kindly brief us about the most satisfactory experience with a client. What kind of game changing services have you provided to them?

There are 2 major experiences which we would like to quote here. one where a carpenter applied through capitaworld for small business loan worth rs.50000 was able to get the same in 7 working days and second of an established business unit who got sanction through capitaworld worth multi-crores. This shows the diversity of funding requirement which capitaworld could serve in most effective manner to different segments of society

What challenges have your Company faced on the road to success? Please share with us the issues a company in this field generally faces.

The key challenges are the acceptability factor on both fund seeker as well as fund provider. Initially, it was hard to make customers understand that the loans can be processed digitally. similarly, there were testing time when some bankers were bit hesitant in accepting this newer technology; but with passage of time we found this technology being embraced by not just these two sides of industry but also lot many financial intermediaries which we term as service providers like DSA/CA have started using this platform as full time fund facilitating platform.

What are the values and factors that you attribute to, for your success?

Focused approach, there is a lot much hard work and dedication by all units of capitaworld but it has been key focused approach which has kept us afloat amongst numerous fintechs in country. One more pillar of capitaworld’s success has been highly experienced and renowned mentor’s team which capitaworld has, has guided capitaworld in achieving this current state of success.

What is the greatest strength of your Company? How is it helping to move forward with the future plans?

Technology advancement and product / policy integration is the key usp of capitaworld. The exact understanding on banker’s requirement and accordingly designing the entire product portfoli enabling right customer to match right banker has been key USP of capitaworld.

The future plan of capitaworld is to make this platform highly advanced catering to all bankers’ requirement and user friendly for end customer.

This can be a stop shop solution for all banks and NBFC as a white label product apart for all sme, corporate and individuals for their funding requirement.