About Finlok
Finlok is a Technology company based in Pune (India) founded in 2017 by Tanuj Sinha and Atish Potdar. Group savings are enabled via a digitized ROSCA model platform. Its Indian entity Janmitr Solutions Private Limited reported revenue of ₹23.5 Lakh. Its focus areas include FinTech, Investment Tech, Wealth Management Platforms and Savings Platforms. Its competitors include myPaisaa, Money Club and Shriram Chits; 2 of its 3 listed competitors have raised funding.
Company details
Finlok was founded in 2017 in Pune, India, as a fintech platform focused on group savings. Savings groups based on the ROSCA model are created by users with known contacts. The entire process is digitized, including online registration via OTP and payments through UPI. An alternative credit score known as the Finlok rating is generated during participation. Operations center on facilitating collective saving in the Indian market.
- Headquarters Pune, India
- Founders Tanuj Sinha, Atish Potdar
- SectorsTechnology
- Website finlok.com
- Social LinkedIn X Facebook
- Legal Name Janmitr Solutions Private Limited
- Date of Incorporation 05 Jun, 2017
- Jurisdiction Pune, Maharashtra, India
- Annual Revenue₹23.5 Lakh
FY 2022 · +48% YoY
- Net Profit₹18.7 Lakh
FY 2022 · 80% margin
- EBITDA-₹4.6 Lakh
FY 2022 · -19% margin
- Investors
Associated legal entities of Finlok
Finlok operates through Janmitr Solutions Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2022) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Janmitr Solutions Private Limited CIN U74999PN2017PTC187927 | Active | 05 Jun 2017 | Pune, Maharashtra | ₹0.2 Cr | 2 | View details |
Funding Insights of Finlok
- Total Rounds 1
- Investors Count 1
All 1 funding rounds of Finlok with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2019 | Grant | – | – |
1 investors in total: 1 institutional.
Investors in Finlok
Finlok has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Government of Maharashtra.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Provider of secondary & higher secondary education | 1994 | maharashtra.gov.in | Mumbai, India |
Investor details for Finlok
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Janmitr Solutions Private Limited (Finlok)
Janmitr Solutions Private Limited is the primary company behind Finlok. The board of Janmitr Solutions Private Limited currently have 2 directors; the longest-serving is Tanuj Sinha, appointed in 2017.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Tanuj Sinha DIN 07332735 | Director | 05 Jun 2017 | 9 yrs 4 mo | Janmitr Solutions Private Limited |
| Atish Ashok Potdar DIN 07765774 | Director | 05 Jun 2017 | 9 yrs 4 mo | Janmitr Solutions Private Limited |
People of Finlok
2 people are tracked at Finlok (2 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership |
Complete people profiles for Finlok
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Finlok
Figures of Janmitr Solutions Private Limited, the primary company behind Finlok, for FY 2022. Revenue was ₹23.5 Lakh (+48% year on year). Net profit was ₹18.7 Lakh (80% margin). EBITDA was -₹4.6 Lakh (-19% margin). Revenue has grown at a compounded annual rate of +30% over three years.
- ₹23.5 LakhRevenue · FY 2022 · +48% YoY
- ₹18.7 LakhNet profit · 80% margin
- -₹4.6 LakhEBITDA · -19% margin
- ₹1 LakhPaid-up capital
- +30%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Janmitr Solutions Private Limited are on its company page.
Detailed financial statements for Finlok
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Finlok
2 dated milestones of Finlok across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Finlok is founded.
- Funding First funding round.
Competitors of Finlok
Finlok has 3 listed competitors in our database, 2 of them funded. They include myPaisaa, Money Club and Shriram Chits.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| mypaisaa.com | 2020 | Hyderabad, India | $450,268 | 148 | Digital chit fund schemes and savings plans are provided. | |
| moneyclubber.com | 2016 | Noida, India | $6.88M | 6 | Pooled savings and borrowing are facilitated by a community platform. | |
| shriramchits.com | 1974 | Chennai, India | 3,132 | Chit fund investments are facilitated through an online platform. |
Detailed competitors of Finlok
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Investment & Financial Technology
2 companies that operate in the same segment as Finlok (Investment & Financial Technology) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
App-based brokerage stock trading platform | 1996 | Mumbai, Maharashtra, India | USD 38.41 M | USD 548.9 M | 3,830 | |
Smart investment portfolios are offered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 121.05 M | USD 635.51 K | 231 |
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Frequently Asked Questions about Finlok
Finlok was founded in 2017 and raised its 1st funding round 2 years after it was founded.
Finlok is headquartered in Pune, India. It is registered at Pune, Maharashtra, India.
The primary company behind Finlok, Janmitr Solutions Private Limited, reported revenue of ₹23.5 Lakh for FY 2022, up 48% year on year.
Finlok was founded in 2017 in Pune, India, as a fintech platform focused on group savings. Savings groups based on the ROSCA model are created by users with known contacts. The entire process is digitized, including online registration via OTP and payments through UPI. An alternative credit score known as the Finlok rating is generated during participation. Operations center on facilitating collective saving in the Indian market.
Finlok's top competitors include Shriram Chits, myPaisaa and Money Club.
Finlok has 1 investor. Key investors include Government of Maharashtra.
Finlok operates through Janmitr Solutions Private Limited.
The legal entities of Finlok currently have 2 directors, including Tanuj Sinha, Atish Ashok Potdar.