Startup News Magazine

‘Financepeer’, a fee payment solution; connecting individual borrowers to lenders digitally

His first startup did not bring the expected success, but Mr Gajbhiye, didn’t lose hope and came with a bang ‘FINANCEPEER’

September 7: Rohit Gajbhiye, the founder of Financepeer, has a decade of experience in the banking industry. Ex-DBS, Singapore. He is an alumnus of IITB and Stanford and has a history of working in the Credit & Liquidity Risk section of the banking industry at DBS, Singapore.

Let us know in detail about Financepeer, “Financepeer has met with tremendous success in the past few years. On the one hand, this success has brought great joy to us, but it has also brought additional responsibilities. Today Financepeer is not just seen as another fintech company providing education loans. We are seen as agents of change.

We are looking forward to revolutionizing the education system by helping it by creating a financial infrastructure that operates digitally. This will help the education institutes have easy access to finance, which will aid them in running smooth operations and focusing on their core competencies, i.e. teaching. Like every business entity, we also expect financial success in these years; however, serving the education sector in the country is much more essential for us”.

“Five years down the line, we intend to keep this reputation intact and become the most trusted partner for all the students, parents, and educational institutions in the country”

By sharing the enthusiastic entrepreneurial spirit, he mentioned, “Being at IIT helped me look at life beyond academics. I have been enthusiastic about the Indian startup ecosystem, and IIT allowed me to experience the same from close range. I was fascinated by the evolving entrepreneurship culture in the country. In my first year, I undertook a project for Boeing. It was there that I first realized my orientation and aptitude for entrepreneurship. Working with DBS’s Fintech segment on projects such as Cards for Foreign Exchange Students and Payla further strengthened my spirit and determination for entrepreneurship. Stanford Ignite helped improve my entrepreneurial skills. Although my first startup did not bring the expected success, the learnings from that became the guiding force while building Financepeer.

Further interaction with Mr Rohit led us to know about their pleasant working environment, “We are determined to create a working environment that is free from prejudices and biases. Ours is a gender-neutral organization that strives to provide equal opportunities for employment, growth, and development to all our employees irrespective of their caste, creed, or religion. We promote new ideas and healthy competition between our employees. From time to time, we keep recognizing talented and hardworking employees and rewarding their good work with awards, incentives, and opportunities for personal & professional growth. We have created a feedback mechanism that constantly keeps us updated regarding the issues prevailing in the organization and helps us take timely actions. Our passion for driving the business in the right direction, strong unit economics, and focus on the basics and goals of the organization have helped us create and sustain a solid work culture”.

“We are always monitoring the state of the market, consumer mood, and global trends. We keep reading and hearing about the latest global market trends. We make an effort to test out novel concepts that are being discussed or explored elsewhere. We frequently interact with diverse industry experts, business leaders, and budding entrepreneurs, as well as our stakeholders, and pay attention to their perspectives”, he added.

This Passionate will of Mr Rohit makes us curious to know his greatest fear in general and how he overcame that. Sharing about the same, he said, “Financepeer has become a name synonymous with an innovative model of education finance. With our sincere work and services, we have created a brand name and set some expectations among students and parents. Sometimes we fear that what if we are not able to meet the standards set by us? To manage this fear, we keep reinventing ourselves, fostering new ideas, investing in innovations, and most importantly, we keep reminding ourselves of the primary mission of Financepeer, which is to remove finance as a hurdle from the education sector.