Quiklo

There are eight million students entering college every year, and 90 percent have no access to loans that can help them buy new laptops.

Bharath Hegde, a student at an MBA college in Bengaluru, was asked to buy a laptop as part of his course. But being the son of a small provision store owner, he didn’t have the option of asking his father for money. Neither did his father possess a credit card to use it for the purchase. This is a story that many youngsters across the country are familiar with–90 percent of the students that get into undergraduate and graduate colleges simply can’t afford the technology they need to get the most out of their education.

This is what it’s website looks like.

Commenting more about the website it’s a layout of thousand of our favourite phones.We all know that everyone cannot afford it at one go.So they prefer EMI but getting EMI’s from Bank is a very complicated process and not so easy for all.

So to solve this Problem Mr.Bharat Hegde took an initiative to make these student able to afford premium phones in easy monthly installment without any credit card.

Currently, the team is in a fund-raising mode, because the market size is large, both in absolute numbers and financially.

According to KPMG, the Fintech market in India, with the rise of new-age lending companies, is expected to become a $2.4 billion market opportunity by 2020. No wonder Accel is betting on this market with Quiklo.

According to data available with YourStory, the Indian financial startup ecosystem saw more than $687 million poured into it across 88 deals. This may seem low compared to 2015, when investment stood at $954 million across 47 deals, but one needs to understand that a large chunk of the latter amount, close to $575 million, was made up of Alibaba-backed Ant Financial Services Group’s investment in Paytm’s parent company, One 97 Communications.

So, if the massive Paytm deal is left out of consideration, investment in the Indian fintech scene rose by over $300 million in one year, an 81 percent rise across sectors.

Further dissecting the investments for last year, one sees that there were 42 pre-Series A deals closing an approximate $30.7 million; 17 Series A deals amounting to $66 million; four Series B deals amounting to $74.3 million; and two Series C and Series D deals, raking in close to $65 million and $49 million respectively.

And here is why Quiklo makes sense–millions of students are eager to participate in the new age, and the only way they can do so is by possessing the gadgets that will provide the information to shape their future. No wonder the three techies have taken a big bet on the industry, and they are sure to succeed, provided they keep their NPAs low.