1 Click Capital breaks new ground by becoming the first NBFC in India to provide unsecured payroll financing. The lending market in India is worth 1 lakh crore, with 95 per cent going to 5 per cent of the companies. Keeping this in mind, Harit Sindhu, the founder of the company, created a new niche for himself, forming a unique space in an already existing, competitive market of NBFCs in India, when he created the fintech company, 1 Click Capital.
It would have been very easy to get lost in the shuffle, but developing a unique product never before seen in the lending market in India put 1 Click Capital on the map for all the finance experts. When asked about his company's vision, the founder says, "To become one of the top fintech companies with a global presence."The concept of payroll financing is an unexplored one in the Indian lending scenario, and that's where an opportunity was created for 1 Click Capital to leave its mark.
So what was the need behind developing 1 Click Capital? The COVID-19 crisis impacted all aspects of life in the world and at home here in India, and businesses everywhere felt the wrath of it. Companies were impacted like never before as the markets crashed and cash flow was interrupted, threatening the livelihoods of thousands. During such times, numerous employers were finding it difficult to provide timely salaries to their employees, and some couldn't provide them altogether. This pressing need in the market gave birth to the idea of 1 Click Payroll, where 1 Click Capital could help companies that were facing a cash crunch with a line of credit to pay salaries to their employees. With this unique product, 1 Click Payroll, no employees would have to go home empty-handed, as now their employers could get instant funding to fulfill their payroll obligations.
Growing up Harit's aspiration was always to give back to society, in some form or another. So when the idea of 1 Click Capital came about, it presented as the perfect opportunity to do some good for society.
His rich history of 21 years of experience paved his way into building a company that not only deals in the lending business but also benefits the business world, both the employers and the employees. Harit's years of experience working at Kotak Mahindra Group for nearly two decades in various departments like credit, distribution channel, wealth management, life insurance, risk analysis, etc. became key defining points in his life and gained him irreplaceable knowledge.
When asked what his vision was for 1 Click Capital, Harit says, "To create the largest and most valuable platform for enterprise finance." The goal is to create a customer-centric business, which will help end the cash crunch and provide employees with the salary they deserve.
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( With inputs from ANI )
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