OnCredit

What OnCredit does

OnCredit (Private) Limited is a Colombo-based Sri Lankan digital lending fintech that provides online short-term unsecured personal loans to individual consumers and small business owners. The company operates a fully digital, self-service platform accessible via mobile app (Google Play, Apple App Store, Huawei AppGallery) and a mobile-optimized website, offering 15-minute approval decisions, 10-minute registration, and same-day bank disbursement on loan amounts ranging from Rs 5,000 to Rs 100,000 with terms of 5 to 30 days and optional extension. The underlying technology relies on automated identity verification via selfie and NIC upload, algorithm-based credit scoring using internal repayment history, and fully digital e-signature processing, eliminating the need for collateral, guarantors, or in-person visits.

The product portfolio spans 13 loan categories — Student Loans, Salary Advance, Health Loans, Business Loans, Bill Payment Loans, Personal Loans, Cash Loans, Fast Loans, Payday Loans, Easy Loans, Urgent Loans, Quick Loans, and Consumer Loans — all delivered through a unified platform with shared registration, approval, and repayment workflows. OnCredit is a registered member of the Digital Alternative Lending Association (DALA), Sri Lanka's only self-regulatory body for the digital lending industry, and integrates Visa, MasterCard, and Dialog Pay&Go as payment and repayment channels.

OnCredit monetizes primarily through interest income and service fees on issued loans, using a freemium pricing model: first loans up to Rs 5,000 over 121 days carry 0% interest, while repeat loans carry interest rates from 0% to 16% with service fees calculated per loan. Revenue is supplemented by promotional codes (LK126, S109) and a gamified play-to-earn discount mechanism that drives repeat borrowing. The company serves primarily salaried employees aged 20–55 and small business owners facing urgent short-term cash needs, with stated customer use cases covering salary advances, medical emergencies, bill payments, education fees, and working capital gaps. Founded in 2019 and incorporated in 2021, OnCredit employs 101–250 staff and operates exclusively within Sri Lanka.

Name

OnCredit

Legal name

OnCredit (Private) Limited

Website

https://oncredit.lk

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

101–250 employees

Short description

OnCredit (Private) Limited is a Sri Lankan digital lending fintech offering short-term unsecured personal loans from Rs 5,000 to Rs 100,000 via mobile app and web, serving salaried consumers and small business owners with 15-minute approval and automated KYC-based underwriting.

Ownership category

akta.pro rank

Product category

Consumer Digital Lending

NAICS

Nondepository Credit Intermediation (5222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)

akta.pro secondary industries

Emergency & Short-Term Installment Personal Loans (Unsecured) (FSAKAAAH), Single-Payment Payday Loans (FSAKAMAA)

Keywords

• Online personal loans
• Digital lending platform
• Short-term cash loans
• Consumer credit services
• Mobile lending app

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest and Service Fees: OnCredit generates revenue through interest charges and service fees on issued loans. For first-time borrowers, 0% interest is offered on loans up to Rs 5,000 for 121 days. Repeat loans carry interest rates from 0% to 16%, with service fees calculated per loan. Example: Rs 5,000 repeat loan over 121 days requires monthly payments of Rs 2,867, totaling Rs 8,600 repayment. The company does not charge additional hidden fees for insurance, processing, or first contributions.
2. Promotional Code Discount Revenue: Revenue is supplemented through promotional campaigns where users apply discount codes (LK126, S109) for reduced interest rates on repeat loans, driving higher loan volume and repeat usage.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

OnCredit operates a fully digital short-term lending platform that provides unsecured personal cash loans to individual consumers and small businesses in Sri Lanka. Borrowers apply via mobile app or website, complete automated identity verification using their National Identity Card, and receive approval decisions within 15 minutes. Loan amounts range from LKR 5,000 to LKR 100,000 with terms of 5 to 30 days, and disbursement occurs directly to the borrower's bank account with repayment collected via the app, web portal, or partner kiosks.

Product overview

OnCredit is a Sri Lankan digital lending platform offering instant online cash loans through a unified mobile app and website. The product portfolio includes short-term lending products: Student Loans, Salary Advance, Health Loans, Business Loans, Bill Payment Loans, Personal Loans, Cash Loans, Fast Loans, Payday Loans, Easy Loans, Urgent Loans, Quick Loans, and Consumer Loans. These products share a common platform with unified registration, approval processes, and repayment systems through the OnCredit mobile application and web portal. The company operates exclusively in the non-banking financial sector, providing unsecured loans ranging from LKR 2,000 to 100,000 with repayment periods from 5 to 30 days, targeting employed Sri Lankan citizens with regular income.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Online Loan
• Salary Advance (Payday Loan)
• Student Loan
• Health Loan
• Business Loan
• Bill Payment Loan

Quantifiable outcome

• Loan approval within 15 minutes
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Digital Alternative Lending Association (DALA)coreOthersOnCredit is a registered and trusted member of the Digital Alternative Lending Association (DALA), the only self-regulatory body for Sri Lanka's digital lending industry. DALA is committed to fair and ethical business standards and practices with a focus on consumer protection, representing the digital lending industry's self-governance framework.
• VisaminorOthersVisa payment network logo displayed on OnCredit's website as a supported payment method, indicating integration for loan disbursement and repayment processing.
• MasterCardminorOthersMasterCard payment network logo displayed on OnCredit's website as a supported payment method for financial transactions.
• Dialog (Pay&Go)minorOthersDialog's Pay&Go kiosk service is referenced as a loan repayment channel available to OnCredit customers for making cash payments toward their loans.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• FairMoney: FairMoney is a mobile-first digital lender serving emerging-market consumers and small businesses with short-term personal and SME loans. Closely comparable to OnCredit on loan size, tenor, target borrower, and app-led self-service experience.
• Tala: Tala extends small, short-term unsecured personal loans to underbanked consumers in emerging markets through a mobile app with automated underwriting. Directly comparable to OnCredit on customer segment, product type, and digital-only, instant-decision delivery model.
• Branch International: Branch is a digital lender providing small-dollar, short-term loans to underbanked consumers in emerging markets via a mobile app with instant decisions. Highly comparable in product (small unsecured short-term credit), target customer (salaried/thin-file borrowers), and digital-only distribution.
• MoneyTap: MoneyTap is an India-based app providing instant personal lines of credit and short-term loans to salaried consumers. Comparable to OnCredit on product type (unsecured short-term personal credit), salaried target segment, and mobile-first underwriting and disbursement.
• Carbon (formerly Paylater): Carbon provides digital personal loans and credit products to underbanked consumers in emerging markets via mobile. Comparable to OnCredit across customer profile, product structure, and digital-first distribution.
• KreditBee: KreditBee is an India-based digital lending app offering small-ticket personal loans to salaried and self-employed consumers. Comparable to OnCredit on loan size, target segment (salaried mid-income borrowers), and mobile-app-only delivery model.

Broad incumbents

• Hatton National Bank (HNB): HNB is a major Sri Lankan commercial bank with personal loan and digital banking products. Comparable as a broader incumbent competing for the same Sri Lankan consumer credit demand that OnCredit targets, though HNB is bank-based and serves higher-credit-quality segments.
• LOLC Finance Sri Lanka: LOLC Finance is one of Sri Lanka's largest non-bank financial institutions offering microfinance and consumer loans. Comparable as a broader incumbent operating in the same Sri Lankan consumer credit market, but with physical distribution and a larger product portfolio.

Emerging players

• Trusting Social: Trusting Social applies AI credit scoring to underbanked consumers in Southeast Asia, enabling digital lenders. Adjacent peer: shares OnCredit's underbanked-consumer focus and emerging-market context, but operates as a credit-data/AI infrastructure layer rather than a direct lender.

Regional players

• Dialog Finance (Sri Lanka Telecom group): Dialog, Sri Lanka's largest mobile operator, offers Pay&Go and digital financial services including microcredit inside its telecom ecosystem. Comparable as a regional Sri Lankan ecosystem player with consumer credit exposure overlapping OnCredit's base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@OnCreditSriLanka
• Facebookfacebook.com/OnCredit-LK-100378249433660
• LinkedInlinkedin.com/company/oncredit-sri-lanka

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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 OnCredit