Monedo
Founded in May 2017 and headquartered in Mumbai, Monedo Financial Services is an RBI-licensed NBFC running a 100% digital B2B2C embedded-lending platform across supply-chain, healthcare and SME verticals in 32 Indian states & UTs, with proprietary scoring delivering login-to-sanction in 15 minutes, USD 606M cumulative disbursals across 62,000+ loans and an India Ratings IND BBB-/Stable rating.
Kilde Score is the platform’s proprietary credit assessment of the borrower, reflecting Kilde’s independent credit view and expressed as a numeric score from worst to best (1.00–5.75). For full details of the credit methodology, including its mapping to a Fitch-style rating equivalent, please refer to this article.
Total value of bonds this borrower has listed on Kilde for investors to fund.
India
Regulatory status of the borrower: Licensed if the license is required, or 'Not applicable' if no licence is required in its operating market(s).
Total amount of loans the borrower has issued to its own end customers. Reflects the company's overall lending scale.
Outstanding balance of the borrower’s loan portfolio, net of impairment provisions.
Overview
Background & History
Founded in May 2017 and headquartered in Mumbai, Monedo Financial Services Private Limited received its RBI NBFC license in October 2018 and was relaunched in FY20-21 via a management buyout of the local subsidiary of an international financial-services group (the former Kreditech India business). Founder Ashish Kohli (~91% of fully-diluted equity) leads the firm, which serves 32 Indian states & UTs with 44 employees and 2,093 active borrowers as of March 2026.
Business Model & Lines of Business
Monedo runs a verticalised B2B2C embedded-lending franchise, plugging credit into anchor partners at the point of transaction. Three live products: Supply Chain Financing (~98% of own-book AUM; tickets up to ~USD 55k; up to 4-month bullet; ~24% APR p.a. + 2-6% upfront fee) for SME traders & distributors across hardware, sanitary, paint, electricals and construction-materials supply chains; Healthcare Financing (~1% of AUM; ATS ~USD 2,700; up to 4-month bullet; ~50% annualised all-in pricing) for individuals against insurance reimbursements; and SME Loans (<1% of AUM; tickets up to ~USD 27.5k; 6-18-month EMI; ~24-36% APR). Operations are 100% digital and branchless, with proprietary scoring driving login-to-sanction in 15 minutes or less and same-day disbursal.
Key Milestones
Cumulative disbursals crossed USD 606M across 62,000+ loans by FY25-26, with own-book AUM scaling from ~USD 0.5M in FY21-22 to ~USD 44M in FY25-26 (~88x in four years). Bottom-line profitability was reached in FY23-24 and the first full year of profit was FY24-25; FY25-26 PBT of USD 2.04M on Total Income of USD 12.8M. The co-lending off-book vertical launched in September 2025 (off-book AUM ~USD 3.1M by Mar 2026). Monedo holds an India Ratings IND BBB-/Stable corporate rating.
Management Team & Organization
Founder, Chairman, MD & CEO Ashish Kohli (25+ yrs at HDFC, Citi, Indiabulls, Bajaj, Indostar, Anand Rathi) leads an 11-strong executive team: CFO/Treasury Rakesh Ganti (21+ yrs, ex-O&G/Tech/Shipping), CRO Karanjeet Singh Gambhir (20+ yrs, ex-Tata Capital, Sharekhan, BNP Paribas, Kotak, StanChart), CBO/Director Vipin Poddar (19+ yrs, ex-IndoStar, Bajaj Finance), CTO Ranjan Barua (16+ yrs), CISO Ashit Joshi, Head of Product Nitasha Thakur (18+ yrs) and Director-HR Sumita Almeida (23+ yrs).
Financials
Outstanding balance of the borrower’s loan portfolio, net of impairment provisions.
Total income (interest and fee income) generated from the borrower’s lending activities.
Products
Typical contractual tenor of the loans disbursed by the borrower to its end customers.
The effective Annual Percentage Rate of the loan charged by the borrower to its end customers, inclusive of interest and fees.
Typical principal amount disbursed by the borrower to its end customers per loan transaction.
Expected share of non-performing loans (NPL) — loans where the end customer has stopped repaying — under this product, shown as a range.
Share of this product in the borrower's overall loan portfolio. Shows how much of the lending business comes from this product.