1 Click Capital, the first Fintech in India to offer salary financing
India, 29 December 2022: 1 Click Capital breaks new ground by becoming the first NBFC in India to offer unsecured salary financing. The lending market in India is worth 1 lakh crore, with 95% to 5% of the companies. With this in mind, Harit Sindhu, the founder of the company, created a new niche for himself, carving out a unique space in an already existing, competitive market for 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 loan market in India put 1 Click Capital on the map for all the financial experts. When asked about the company’s vision, the founder says: “To become one of the best fintech companies with a global presence.” The concept of payday financing is unexplored in the Indian lending scenario and this is where an opportunity was created for 1 Click Capital to make a mark.
So what was the need behind the development of 1 Click Capital? The COVID-19 crisis affected every aspect of life in the world and here at home in India, and businesses everywhere felt the wrath of it. Companies were affected like never before as markets crashed and cash flow was cut off, threatening the livelihoods of thousands. In such times, many employers found it difficult to provide timely wages to their employees, and some could not provide them at all. This urgent need in the market gave birth to the idea of 1 Click Payroll, where 1 Click Capital could help companies facing a cash crunch with a credit limit to pay salaries to their employees. With this unique product, 1 Click Payroll, no employee would have to go home empty-handed, as their employers could now receive immediate funding to meet their payroll obligations.
Growing up, Harit’s ambition was always to give back to society, in one form or another. So when the idea of 1 Click Capital came about, it presented itself as the perfect opportunity to do something good for society.
His rich history with 21 years of experience paved the way to building a company that not only engages in lending, but also benefits the business world, both employers and employees. Harit’s years of experience working in Kotak Mahindra Group for almost two decades in various departments like Credit, Distribution Channel, Wealth Management, Life Insurance, Risk Analysis, etc. became key factors in his life and gave him irreplaceable knowledge.
When asked what his vision was for 1 Click Capital, Harit says, “To create the largest and most valuable platform for business financing.” The aim is to create a customer-centric business, which will help end the money crisis and give employees the pay they deserve.
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