Having one of the biggest markets for two wheelers in the country; bikes & scooter remain the most preferred mode of transport in India. As with the growing market for two wheelers, there has been a significant growth in the two wheeler loan market as well but there are not enough players in the market that are providing people with the financing options. Taking notice of the opportune space, SrinivasKantheti, Karunakaran Vadakkepat and Ratheesh K. Bharathan came together to come up with a solution that would ease the financing woes of the Indian customer. Combining years of knowledge and their expertise of having worked in this segment, the founders decided to take a plunge in the entrepreneurial world and sculpted the foundation of Wheels EMI.

Started in 2017, Wheels EMI is a specialist in two-wheeler business and caters to the finance needs of purchasing a PreOwned or New Two Wheeler. The company offers its services across four verticals; used two wheelers, new two wheelers, electric vehicles

and institutional sales. The diversified service portfolio of Wheels EMI is beneficial both to the stakeholders and to the customer as it allows the customer to get access to reliable organized finance and also help the stakeholders shoot up their sales figure. With its direct cash collection solution, the firm tends to provide a convenient product to the customer at competitive interest rates. “We keep piloting different products for different segments in the market and are working on differentiated models. Being the pioneers in the electric vehicle and used two wheeler segment, we are focused on adding value to the manufacturer as well as to our customer,” says Karunakaran Vadakkepat Joint MD.

Started in 2017, Wheels EMI is a specialist in two wheeler business and caters to the finance needs of purchasing a Pre Owned or New Two Wheeler.

Operating in a market which is unorganized and is dominated by many small players, Wheels EMI’s road to success was laden with a number of hurdles. From raising funds to pending regulatory approvals, the company faced a number of challenges. But combining the founder’s expertise and immense knowledge about the industry, the firm was able to sail through the hard times and has currently managed to acquire Series A and Series B round of funding. The Pune-based company has its presence in over 12 states and 56 locations. Having tie-ups with Hero Moto Corp Ltd., Greaves CottonLtd. and ICICI bank, Wheels EMI is poised for aggressive growth in disbursement. Disbursing around 95 crores last year, WheelsEMI has already disbursed Rs. 122 Crores this year and aiming for a disbursement of 300 crore plus. The retail loan financing firm aims to take the business to 2000 crores in 3 years. Looking to expand to other geographies, the company’s focuses on expanding to under banked areas and increase its disbursements in the near future. “We are aiming to grow aggressively in the electric vehicle segment and we will keep working on crafting innovative solutions to retail finance and give our customers the kind of model that best suits their requirement,” he concludes.