Sonali Jindal, Co-Founder & COO & Krishnan Vishwanathan, Founder & Managing Director
Karan Mehta, Founder & CTO & Ranvir Singh, Founder & CEO
There are numerous subsegments within the Indian fintech sector ecosystem, including Payments, Lending, Wealth Technology, Personal Finance Management, Insurance Technology, and Regulation Technology.
Launched in 2022 by OnEMi Technology Solutions Pvt. Ltd., RING is a digital payments app oriented to-ward millennials and Generation Z.
RING provides customers lacking accessibility to conventional lines of credit with instantaneous credit up to Rs.30,000. Clients can transfer this credit to their personal bank accounts, pay bills and utilize it on both online and of-fline platforms. Flexibility is also available to use the credit at merchant stores across the country.
The founders of RING seek to serve and empower over 50 million individuals with credit that can be used for a myriad of purposes. Powered by cutting-edge technology and guided by thorough consumer insights, the app which is backed by an RBI-regulated NBFC offers credit to users within minutes.
The RING App provides a range of services including transferring money to bank accounts, making online and offline payments, making merchant payments at 0 percent interest, and mini payments without trans-action costs. The platform also offers rewards, cash-back, and discounts at partner merchant platforms, including entertainment and e-Commerce platforms. The platform mainly caters to Gen-Z and millennials.
"There are over 150 mn people who are either under-served or unserved on transaction credit. We offer a one-stop credit and payment solution, which can be used `anywhere and everywhere' and change the way people use credit. We want to maximize value for the customer on our app to help them power their dreams", says Ranvir Singh, Founder & CEO of RING.
Launched in 2022, RING established itself with a bang. The platform has a merchant network of over five lakhs, and is acquiring roughly 35000 customers every day. The organization has also successfully raised above $80 million to fund its expansion plans. Providing credit at the point of sale and Quicker Cash Conversion, RING has developed a compelling proposition for customers and partnering merchants that has al-lowed the platform to grow quickly.
The ring app provides a range of services including transferring money to bank accounts, making online and offline payments, making merchant payments at 0 percent interest, and mini payments without transaction costs
"The convenience and seamless experience that the product will provide will be one of a kind in the industry. We are excited for the next phase of growth where we focus not only on customer acquisition but also on offering a hassle-free experience and increasing customer delight in every transaction, they make using our platform”, adds Krishnan Vishwanathan, Founder & Managing Director, RING. By assuring straightforward lending with little documentation over the course of the next five years, RING aspires to become the top choice for borrowers in this market.