Startup where i am working got the NBFC lisence.

So in sept 2022, i made the reverse switch that is Startup--->traditionally run nbfc. The current co. Where I work is operational since 2017, profitable (~PAT of 30crs) With 3 years and 10 months of work ex I'm currently reporting to the business head and I'm the only product manager/owner for their new business unit. Current hikes have matched the nbfc standards however the CTC still feels on the lower end. Looking for some advice on what the fintech/new age nbfc's have on offers. Ps my current CTC post hike (within 7 months) of joining is 9.2LPA. My background is non tech

- So after raising millions of dollars for "innovating in fintech", CRED has decided to get into the centuries old business of lending - The main company has burnt investor money mainly to build out distribution but no product. - Now when they decided to get into lending, Kunal Shah acquired an NBFC where he personally owns approx 80% stake and CRED owns 20% - Through this NBFC, CRED gives out their loans on BNPL products. Now Kunal Shah wants to slowly sell the rest of his stake to the main company CRED - Except the NBFC is worthless without CRED's distribution. And CRED is worth a lot less without any product and Kunal Shah holds only 12% equity in the main cash-burning loss-making company after all those dilutions in funding rounds. - By making CRED acquire this NBFC at inflated valuations where he owns majority stake, he's gonna personally cash out once again while CRED will still have a long journey ahead of them. How are the CRED investors ok with this?

Every Fintech nowadays is running to get a NBFC licence to provide service like loan & insurance isn't the market already getting cluttered & They are just focusing on increasing their loan book & with huge default isn't that gonna impact the whole ecosystem? Has RBI turned a blind eye just because these fintech now have NBFC licence

- Jai Kisan has acquired an NBFC license through its strategic acquisition of Kushal Finnovation Capital Private Limited. - The license will enable Jai Kisan to design and distribute more customized credit products to farmers and business customers. - The firm plans to co-lend with leading financial institutions, including public sector banks in India. - Founded in 2017, Jai Kisan offers credit for rural commerce transactions and partners with various stakeholders in the agriculture value chain. - Jai Kisan has facilitated disbursals of over Rs 6,000 crore since inception, with Rs 3,000 crore in FY24 alone. Source: [Entrackr](https://entrackr.com/2024/08/jai-kisan-acquires-majority-stake-in-kushal-finnovation-gets-nbfc-license/)

Do you guys agree with the list? Anymore candidates

- Are these guys on the path to profitability now? What do they even do? Just sell loans and insurance to rich people who won't fall for that shit anyway? What's their edge over the hundreds of other companies already doing that? - How much are they burning now? How much runway do they have? - Cuz everyone abuses their CRED coins and calls them worthless. - Most importantly, I'm sick of seeing Kunal Shah's smug dp pop up on my Twitter everyday with some new gyan while it's unclear what he even does

Why did this happen? Slice already owns an NBFC license. What does this help them achieve? "to better serve their shared mission and reach more consumers who currently lack access to basic banking services"