Tashwinder Singh (Niyogin) on Building India's Next Fintech Giant, Beyond UPI

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"We realized that just lending is not the answer. You need to solve a problem for the small business owner."

This quote from Tashwinder Singh encapsulates the core philosophy driving Niyogin's approach. It's not just about providing capital; it's about understanding and addressing the holistic needs of small businesses in India, moving beyond simple transactions to genuine problem-solving. This sets the stage for a discussion about a more nuanced and impactful approach to fintech.

About Tashwinder Singh: Tashwinder Singh, CEO of Niyogin, is a financial services veteran with a track record of building and scaling businesses. He spent 18 years at Citibank, culminating in leadership roles before transitioning to the world of private credit at KKR, where he managed ~$1 billion in annual disbursements in India. Now, he's leading Niyogin's ambitious journey to revolutionize lending for small businesses, growing their loan book from ₹100 crores to a targeted ₹800 crores in the near future. His experience spans corporate finance, consumer banking, and the complexities of the Indian credit market.

Key Insights from the Conversation:

👉The Power of Partnerships: Niyogin's model heavily relies on strategic partnerships with a wide range of institutions, enabling them to reach a vast network of MSMEs and leverage existing distribution channels.

👉Beyond UPI: While UPI is a success story, Niyogin recognizes its limitations in rural India and focuses on addressing the unique challenges of cash-based economies and integrating cooperative banks.

👉Technology as an Enabler: The acquisition of iServeU and its technology platform (including soundbox technology) is central to Niyogin's strategy, providing both financial inclusion solutions and SaaS revenue streams.

👉Risk Management: Niyogin's approach to partner-originated loans, including risk cover, showcases a focus on sustainable growth and minimizing NPAs.

👉The Importance of Distribution: Niyogin's direct selling agents combined with strategic partnerships with institutions, gives them a wider and deeper reach.

Chapter Headings with Timestamps

00:00:00 - Introduction: Tashwinder Singh's Journey from Citibank to Niyogin

00:03:15 - The IL&FS Crisis and its Impact on Indian Credit

00:07:40 - Joining Niyogin: Identifying the Opportunity in MSME Lending

00:12:25 - Niyogin's Business Model: Lending, Distribution, and Technology

00:18:50 - Building the Loan Book: Targets and Strategies

00:24:30 - iServeU Acquisition: The Technology Backbone

00:31:10 - The Soundbox Strategy and Bank Partnerships

00:38:00 - Addressing the Challenges of Rural India: Beyond UPI

00:44:45 - Risk Management and the Zero NPA Approach

00:51:20 - The Future of Niyogin: Monetization and Growth Plans

00:57:00 - Competition and the Evolving Landscape

01:01:05 Key Learnings and Advice for Entrepreneurs

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