What Stashfin does

Stashfin is an India-based, tech-led digital NBFC (operating through Akara Capital Advisors Private Limited, with EQX Analytics Private Limited as the trademark-holding parent) that provides instant personal loans and a growing suite of adjacent financial services to consumers and small businesses, primarily in Tier-II to Tier-IV cities. Founded in 2017 by Tushar Aggarwal (an engineer and Wharton MBA with prior experience at Goldman Sachs, Lehman Brothers, and General Atlantic), the company operates a 100% digital, paperless lending process delivered through iOS/Android mobile apps and a website, with loans up to ₹5 Lakhs, interest rates starting from 11.99% APR, repayment tenures up to 36 months, and a 0% interest-free period of up to 30 days on fund transfers. As of late 2025 the platform had cumulatively disbursed ₹13,000 Cr to 75L+ customers and held assets under management close to ₹2,100 Cr.

The technology stack is a cloud-based digital lending platform built on AWS infrastructure with AI embedded across the lending lifecycle — credit assessment, fraud detection, underwriting, and customer service — drawing on alternative data sources such as SMS header parsing, installed-app scanning, device fingerprinting, and location analytics to underwrite thin-file and underserved borrowers that traditional bureaus cannot reach. Digital onboarding uses camera-based KYC and e-KYC verification, and the platform supports UPI payments as a Third-Party Application Provider via Unity Small Finance Bank. Beyond core personal loans, Stashfin has expanded into UPI payments, bill payments (utility and credit card), corporate bond distribution (returns up to 14.8% with ₹10,000 minimum), insurance products (Loan & EMI Protect), a Credit Builder tool, and a Stashcash rewards program — all delivered through a single super-app.

The business model combines interest income on personal loans (primary), transaction/platform fees of up to 2.5% plus GST on disbursements, distribution margins on corporate bond investments, affiliate revenue on insurance products, and emerging UPI/payments monetization. The go-to-market is product-led and direct-to-consumer via mobile app and website, augmented by paid acquisition (Google/Meta), content marketing, referral programs, and partnerships with Paisa Bazaar and multiple co-lending NBFC partners (Cholamandalam, InCred, Credit Saison, Oxyzo, Western Capital) that extend origination capacity. The company is profitable, has burned less than $5M of cumulative equity capital, is backed by Tencent, and announced plans in December 2025 to pursue an IPO within 12-18 months.

Name

Stashfin

Legal name

EQX Analytics Private Limited

Website

https://stashfin.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Stashfin is an India-based, tech-led digital NBFC (operating via Akara Capital Advisors) that delivers 100% digital personal loans up to ₹5 Lakhs, UPI payments, corporate bond distribution, and insurance products to 7.5M+ underserved consumers and small businesses across Tier-II to Tier-IV India.

Ownership category

akta.pro rank

Product category

Consumer Digital Lending

NAICS

Nondepository Credit Intermediation (5222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)

akta.pro secondary industries

Emergency & Short-Term Installment Personal Loans (Unsecured) (FSAKAAAH), Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG), Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD), Lending & Credit Disbursements (FSAMAKAH), Pricing, Risk-Based Offer & Limit Management (FSAGAHAE)

Keywords

• Digital personal loans
• Consumer lending
• UPI payments
• Corporate bond investments
• Mobile lending platform

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Interest Income: Primary revenue from interest charged on personal loans. Loans up to ₹5 Lakhs with interest rates starting from 11.99% APR, repayment periods up to 36 months.
2. Platform/Transaction Fees: Transaction fees of up to 2.5% plus applicable GST charged on loan disbursements. Low platform fees with no hidden costs.
3. Corporate Bonds Distribution: Revenue from facilitating corporate bond investments for customers, offering bonds with 14.8% returns and minimum investment of ₹10,000
4. Insurance Products: Revenue from insurance product distribution including Loan & EMI Protect insurance plans
5. UPI Payment Services: Revenue from UPI-based credit and payments services including bill payments and merchant payments

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Stashfin operates as a tech-led NBFC providing 100% digital personal loans up to ₹5 Lakhs with instant approval and a 0% interest-free period of up to 30 days, through its mobile and web platform. The platform also offers UPI-based payments, corporate bond investments with returns up to 14.8%, insurance products, and credit-building tools, all accessible via a single self-serve app across India.

Product overview

Stashfin is a tech-led digital lending and financial services platform operating as an NBFC (Akara Capital Advisors Private Limited). The platform offers a unified super-app architecture combining personal loans (with category-specific variants for Travel, Marriage, Medical, Education, Home Renovation, Car, Two Wheeler, and Used Car), UPI-based payments and bill services, corporate bonds investment, insurance products, and credit-building tools. The product ecosystem centers on the Personal Loans as the core offering, supplemented by Payments (UPI, Bill Payments, Credit Card Bill Payment) and Wealth products (Corporate Bonds), with enabling features including Credit Builder, Rewards, and EMI Calculators. All products are accessible through a single mobile app with 100% digital onboarding.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Loans Digital personal loans for individual consumers offering instant approval, 100% digital process, minimal documentation, loan amounts up to ₹5 Lakhs, and a 0% interest-free period up to 30 days, repaid via monthly EMIs.
• Travel Loans Purpose-specific personal loans for funding travel expenses with flexible repayment options, targeted at individual consumers planning trips.
• Marriage Loans Personal loans tailored for wedding expenses with customizable repayment plans for individual consumers.
• Medical Loans Healthcare financing option for medical emergencies and treatment expenses aimed at individual borrowers.
• Education Loans Loans designed to cover educational expenses and learning opportunities for students and individuals pursuing education.
• Home Renovation Loans Financing for home improvement and renovation projects offered to individual homeowners.
• Car Loans Auto financing for new car purchases with flexible tenures for individual consumers.
• Two Wheeler Loans Loans for two-wheeler vehicle purchases including motorcycles and scooters for individual buyers.
• Used Car Loans Financing options for pre-owned vehicle purchases targeted at individual consumers.
• Stashfin UPI Payments UPI-based payment services enabling instant money transfers, bill payments, and merchant payments through the Stashfin app, operating as a Third-Party Application Provider (TPAP) via Unity Small Finance Bank.
• Corporate Bonds Investment Investment platform offering investment-grade corporate bonds with returns up to 14.8%, minimum investment starting from ₹10,000, fixed maturity, and predictable earnings for retail investors.
• Loan & EMI Protect Insurance Insurance products including Loan & EMI Protect coverage for loan borrowers, distributed through the Stashfin platform.
• Bill Payments Utility bill payment service for electricity, water, mobile, and other recurring bills processed through the Stashfin UPI platform with rewards integration.
• Credit Card Bill Payment Service for paying credit card bills through the Stashfin platform, enabling consumers to manage and clear card outstanding balances.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• Akara Capital Advisors Private LimitedcoreStrategic or Co-development PartnerAkara Capital is the NBFC entity (LSP) that holds the NBFC certificate and facilitates lending through the Stashfin platform. It is a group company with EQX Analytics.
• Cholamandalam Investment and Finance Company LimitedmajorChannel Partner/ Reseller/ DistributorCo-lending partner facilitating loan distribution and portfolio management through the Stashfin platform.
• InCred Financial Services LimitedmajorChannel Partner/ Reseller/ DistributorCo-lending partner facilitating loan distribution through the Stashfin platform.
• Kisetsu Saison Finance (India) Private LimitedmajorChannel Partner/ Reseller/ DistributorCo-lending partner (Credit Saison) facilitating loan distribution through the Stashfin platform.
• Western Capital Advisors Private LimitedmajorChannel Partner/ Reseller/ DistributorCo-lending partner facilitating loan distribution through the Stashfin platform.
• Oxyzo Financial Services Pvt LtdmajorChannel Partner/ Reseller/ DistributorCo-lending partner facilitating loan distribution through the Stashfin platform.
• Unity Small Finance BankcoreTechnology or IntegrationSponsor PSP Bank for UPI payment services. Stashfin participates in UPI ecosystem through Unity Small Finance Bank as the Payment Service Provider.
• Aerial Telecom Solutions Pvt LtdminorOthersCustomer support partner providing telecom solutions and support services.
• Google Ad NetworkmajorGTM or Marketing PartnerMarketing partner for digital advertising and customer acquisition through Google's ad network.
• Meta Ad NetworkmajorGTM or Marketing PartnerMarketing partner for digital advertising and customer acquisition through Meta's advertising platforms (Facebook, Instagram).
• Paisa BazaarminorGTM or Marketing PartnerMarketing and consulting partner for customer referrals and co-marketing activities.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Money View: Direct competitor in the Indian D2C personal lending space, offering instant personal loans to salaried and self-employed individuals via a mobile-first, AI-driven underwriting model targeting similar underserved segments.
• CASHe: Direct peer offering personal loans, credit lines, and merchant cash advances via mobile app, using AI-based alternative credit scoring for underserved Indian consumers — closely matching Stashfin's product and target segment.
• Fibe (formerly EarlySalary): Direct D2C competitor offering instant personal loans, salary advances, and small-ticket credit lines to salaried Indians; comparable target customer, loan ticket sizes, and digital-first distribution.
• NIRA Finance: Direct D2C personal loan competitor offering small-ticket instant credit to Indian consumers via a mobile app, targeting thin-file borrowers with similar digital onboarding and quick disbursal.
• PaySense (LazyPay): Direct D2C peer providing instant personal loans and 'buy now, pay later' credit to Indian consumers, with similar digital onboarding, mobile-first distribution, and small-ticket loan sizes.
• KreditBee: Direct peer providing digital personal loans, primarily to young salaried professionals and first-time borrowers in Tier-II+ India, with similar product-led growth and instant approval mechanics.

Broad incumbents

• Bajaj Finserv: Large incumbent NBFC offering personal loans, consumer durable finance, insurance, and investments across India; competes for the same end customers via digital channels and co-lending relationships, but with a much broader product portfolio.
• Dhani (Indiabulls Consumer Finance): Established digital lending and healthcare NBFC offering personal loans, credit lines, and consumer finance via a mobile app; broader incumbent serving a similar mass-market Indian customer base.

Emerging players

• Jupiter: Emerging neobank offering personal loans, salary account, payments, and investments in a single app; ranked just above Stashfin in Outlook Business's 2026 fintech list and competes for the same digital-first Indian consumer.
• Navi: Emerging full-stack fintech offering personal loans, home loans, UPI, mutual funds, and insurance via a super-app, overlapping with Stashfin's roadmap of expanding beyond lending into payments and investments.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCyjtuSfqPbbHcu07CZ1eqEg
• LinkedInlinkedin.com/company/stashfin
• Instagraminstagram.com/stashfin_/?hl=en
• Xx.com/stasheasy
• Facebookfacebook.com/stashfin.official

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds7 records

Investors20 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stashfin