Flyhi Finance: Simplifying Education Financing for Masses

 Brijesh Parnami ,  Founder & CEO

Brijesh Parnami

Founder & CEO

The financial industry is facing several challenges, such as economic uncertainty due to global conflicts and financial sanctions. To tackle these challenges, companies are adopting strategies such as asset-light operations, technology adoption to reduce costs, and prioritizing data security. This helps them maintain stability and market position in a challenging environment. India's economy remains strong and resilient due to its solid domestic macroeconomic fundamentals. Open banking is a crucial aspect of success for financial services companies, as it provides access to multiple data points through third-party sources, enabling informed financial decisions by lenders and customers. This also expands the reach of financial services companies to underserved customer segments. Flyhi Finance is a rapidly emerging non-banking finance company that leverages technology and data to provide innovative solutions to its clients. With a focus on open banking, Flyhi aims to deliver its customers a seamless and personalized experience.

The COVID-19 pandemic presented significant challenges for many businesses and households, including the education sector, where students from lower income groups could not pay for quality education. Flyhi Finance recognized the need for low ticket and affordable study loans to support education providers and consumers. To address these challenges, Flyhi Finance has adopted a B2B2C strategy by tying up with education providers to offer subvention based loans for students in the form of no cost EMIs. This solution benefits education providers with upfront payments and improved student retention while providing students with accessible and affordable
education financing. Flyhi Finance has made great strides, with a successful MVP launch and partnerships established with more than 50 schools and institutions. The company has developed a seamless, paperless onboarding process for customers and partner institutions.

Flyhi Finance is revolutionizing the education financing industry with innovative, accessible, & customized loan solutions powered by technology

Flyhi Finance is an RBI registered non-banking finance company that provides customized study loans for various education needs such as schools, tuition, coaching classes, colleges/universities, higher education, executive education, and vocational/skill development courses. The company leverages technology and data to offer its customers a seamless and personalized experience. The company has a state-of-the-art customer and institution onboarding journey that is entirely paperless and simple. Flyhi Finance is at a startup stage and is looking to achieve scale in line with market demands. “Our goal is to become the ‘Education Financier for Masses’ by providing simple, highly affordable, and customized study loan solutions”, speaks Brijesh Parnami, Founder & CEO, Flyhi Finance.

Asim Kumar Padhi, Co-Founder & COO

Secure & Smart Finance Solution
Flyhi Finance sets itself apart with its strong emphasis on cyber security, partnering with top quality suppliers like Amazon Web Services for cloud storage. The company has also secured seed funding from strategic player Choice International and plans to leverage its distribution and business development networks. Additionally, Flyhi leverages technology to provide a seamless customer experience and an efficient loan process, using APIs, machine learning, and AI to improve its business rule engine to meet market demands continuously and customer needs better. Modern authentication methods also enhance security by reducing the need for customers to remember credentials. Flyhi Finance is committed to serving its customers with innovative, simple loan solutions. The company has set a target to onboard 5000 institutions and reach 1,00,000 customers within the next 2-3 years, to disburse around Rs.1000 crores of loans.