- **OnEMI Technology Solutions is a technology company that does lending - not the other way around - operating India’s “Kissht” digital credit platform. Founded in 2016 and listed in May 2026, it was built to bridge India’s credit gap by giving mass-market and mass-affluent borrowers a loan in as little as five to ten minutes, entirely through a mobile phone. Everything the company does flows from a single recurring approach: proprietary AI underwriting models trained on over 10 million data points over 5 years, which separate good risks from bad roughly 2.5 times better than traditional credit scores alone - and that engine is then applied across unsecured loans, secured property loans, and an emerging wealth-distribution business.** # Business segments Three engines at different stages - a digital unsecured-lending core that generates nearly all assets, a secured property-loan extension built on the same customer base, and a newly incorporated wealth-distribution subsidiary - each using the same AI underwriting and customer franchise. ## 1. Kissht personal loans: the digital credit factory **A fully digital, AI-driven unsecured lending engine that approves loans in minutes for over 11 million Indians, with risk models that outperform bureau scores by a wide margin and a collections machine that keeps bad loans below 0.3% net.** - **AI that separates good risks from bad** - the underwriting engine uses over 7,000 variables drawn from banking flows, device intelligence, transactions and alternate data, and its latest transformer-based model achieves approximately 2.5 times more risk separation than traditional bureau-only approaches. The model has improved its predictive power by 8 percentage points since 2023, trained on more than 10 million positive credit decisions. - **A fraud system that watches everything at once** - a multi-agent system orchestrates over 50 fraud triggers covering deep fakes, document forgery, network fraud and multivariate anomalies, with 200-plus real-time checks spanning impersonation, device fraud, UPI fraud and geo-location anomalies, having verified over 20 million KYCed customers. - **Collections kept in-house, not outsourced** - more than 95% of recoveries are handled by the company’s own 7,000-plus field agents and 1,000-plus tele-callers, supported by a proprietary automated system covering 17,000-plus pin codes that starts field intervention as early as five days past due and achieves over 97% collection efficiency. - **Pulled back before trouble hit** - when early-warning systems flagged elevated risk across roughly 450 pin codes, the company cut disbursements by about 7% and paused lending there entirely, while also reducing new customers’ fixed-obligation-to-income ratio to 30% from 34% the year before. - **Half the book funded by partners, not the balance sheet** - about 50% of assets sit off-book through arrangements with eight-plus partners, where the company earns fees and provides a first-loss guarantee of up to 5%, keeping capital light while the on-book half is funded by 45-plus lenders at borrowing costs between 11.5% and 14.25%. ## 2. Loan Against Property: secured lending to the same customers **A branch-led secured loan book built almost entirely on demand from existing Kissht users, using hybrid digital-physical underwriting to lend against homes and commercial property at conservative loan-to-value ratios.** - **More than 40% of customers come free** - over two-fifths of property-loan borrowers are existing Kissht users who asked for a secured product, meaning the business acquires them with no incremental marketing cost. - **Lends less than half the property’s worth** - the loan-to-value ratio is capped at 48%, with ticket sizes up to ₹15 lakh and tenures up to 10 years, targeting residential and commercial property owners as well as small businesses and self-employed borrowers. - **Digital lead generation, physical fulfilment** - underwriting combines AI models with property intelligence, cash-flow analysis, field visits, legal checks and certified valuer reports, while AI-driven document processing improved first-time-right rates by over 30% and halved credit queries. - **A ₹518 crore book across 98 branches** - operating in eight states including Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh, Telangana and Andhra Pradesh, the secured business contributed 7.3% of total assets as of March 2026. ## 3. Wealth distribution: non-lending services for the existing base **A newly incorporated subsidiary that will distribute mutual funds and wealth products to customers who were already asking for them - extending the franchise without taking credit risk.** - **Built because customers demanded it** - the business was created in direct response to existing borrowers requesting wealth products, turning the lending relationship into a broader financial-services gateway. - **Housed in a separate subsidiary** - incorporated on 17 June 2026 as Invincible Minds Private Limited, wholly owned by OnEMI with an initial capital infusion of ₹9 crore, keeping non-lending activities ring-fenced from the NBFC that holds the loan book. - **A long-term expansion play** - management’s stated strategy is to add lending and non-lending products over several years, with LAP as the immediate next product and insurance and mutual fund distribution as an adjunct cross-sell. # Group structure and partners **A listed holding company with a single NBFC subsidiary that does all the lending, a newly created wealth-distribution subsidiary, and a funding network spanning 45-plus lenders - plus Sachin Tendulkar as both investor and brand ambassador.** - **Si Creva Capital Services is the lending engine** - a middle-layer NBFC registered with the RBI, it holds the on-book portfolio and received roughly 75% of the IPO proceeds (₹637.5 crore) as fresh equity in May 2026 to fund growth, with a capital adequacy ratio of 25.3% and net worth of ₹1,343 crore. - **Funding comes from banks, NBFCs and fund houses** - on-book debt of ₹2,396 crore is sourced 20% from banks, 33% from NBFCs and 46% from fund houses, using non-convertible debentures, term loans and pass-through certificates, with credit ratings of A-/Stable from Crisil and A- from India Ratings. - **Promoters run both the listed company and the NBFC** - Ranvir Singh and Krishnan Vishwanathan, who founded the business in 2016, serve as executive directors of OnEMI and also hold whole-time director and managing director roles at Si Creva. - **Sachin Tendulkar joined as strategic investor and brand ambassador in 2025** - the association is designed to accelerate brand trust in mass-market and mass-affluent segments, while institutional investors from the IPO included HDFC Mutual Fund, ICICI Prudential Mutual Fund and Goldman Sachs.