Written by 10:48 am Indian Startups

Success Story of Revfin And Sameer Aggarwal

Success Story of Revfin
Sharing is caring

India is advancing fast in the direction of machine learning and data analytics for KYC and underwriting. Revfin Services private limited is a digitally enabled startup for underwriting. The CEO of Revfin, Mr. Sameer Aggarwal, has fully used his experience and dedication to make the growth of Revfin a story of the inspirational start-up. It can be said without an iota of exaggeration that this is a success story of a company that will motivate many to make a mark in business.

Let’s learn about the process through which Sameer Aggarwal wrote this success story of Revfin to help and motivate many under.

There are over a billion mobile phones used in India, and nearly half of these are smartphones. Usage of financial services through phones is quite poor in India. Revfin has come forward to utilize this modern device for the underwriting of loans, start-up business grants, and small business funding. In fact, the usage of digital technology for financial services has many advantages.

It makes customers in control, no matter where they are worldwide; thus, making this effectively a global service. Moreover, the transactions are quite fast on the digital platform. This aspect has been well recognized by Revfin in its services. It is important to note that several geographies are not catered properly by lenders due to the lack of use of the digital platform.

To circumvent this situation, Revfin has developed strategies to use the combination of psychometrics, biometrics, and gamification for loan application underwritings.

Sameer Aggarwal said, “We provide loans to customer segments that do not have access to formal and affordable lending. Our loans are given out for productive purposes like employment generation.” 

Revfin is an NBFC and financial technology (fintech) startup providing conveniently available loans for clean technologies and small business funding. It supports propositions of start-up, and sustenance as well as a struggle among different micro- enterprises. Besides varied business funding, Revfin is also involved in digital payments, data science-driven decisions, KYC, digital lending, underwriting services, and providing loans to individuals. A thrust area of Revfin activity is to provide funds for employment generation.

Revfin, with its main strength of the digital lending platform, is recognized as a start-up by DIPP, Government of India. It has Saarthi, Mayuri, Republic Motors, URV Enterprises, Divya Enterprises, Shigan E Voltz, EVI technologies, Scogo Networks, and many more as distribution partners.

In addition, Aristo Securities Pvt. Ltd. is the lending partner, and PNB Metlife and FINO payment bank are financial service partners of Revfin. The motto of the company can be summarized in the words of its founder Sameer Aggarwal –

“Our lending platform is our biggest strength. Through the platform, we can approve loan applications that traditional lenders cannot.”


Revfin - Sameer Agarwal - ColitcoImage Source:- Yourstory

The architect and patron of Revfin, Sameer Aggarwal is an alumnus of the prestigious Indian Institute of Technology, Kharagpur, and had his school education at Air Force Bal Bharti School (AFBBS). Presently, he lives in Delhi with his wife and a five years old son. Being the son of an air force officer, he has inherent hallmarks of discipline and punctuality and these form the part and parcel of work culture at Revfin.

Before starting his own enterprise Revfin in 2018, Sameer worked for nearly 13 years at HSBC (a British multinational investment bank and financial services holding company, which is the largest in Europe). During his time at HSBC, his operational territories included the UK, France, Turkey, Australia, Canada, Mexico, Hong Kong, and many other countries.

As a recognition to his leadership of the company, he has been honoured with several awards including the NBFC industry emerging leader award in 2019. He is also a member of the Board of Directors of Aristo Securities Pvt. Ltd., a Non-Banking finance company (NBFC). Credit risk management, credit products management, and analytics are a few specialities of Sameer.

Contributing well-written articles on leadership, start-up business grants, fintech, lending, small business funding, risk management, and entrepreneurship are his hobbies. Sameer also relishes mentoring students and young professionals.



Revfin is benefitted from the guidance of many consultants/advisers including Fintech executives and entrepreneurs based in India, Dubai, USA, and UK. The credentials of contributors to the success story of Revfin are as follows. Anil K Goyal provides consultancy in accounting, tax, FEMA, wealth, legal verticals, etc. London-based CA Alok Verma has expertise in private equity, Mergers & Acquisitions, and SMEs.

Harsh Jain is an entrepreneur with business in the UK, Dubai, and India. Krishan P Singh is a New York-based investment banking expert, and Anil Lanba is a specialist in IT services and recruitment.


Products of Revfin - ColitcoImage Source:- Indiamart

Revfin provides loans for electric three-wheelers used for commercial transport purposes by customers. It also gives a loan for buying electric two-wheelers for commercial as well as personal use. Another close-ended product is an Electric Vehicle Ancillary loan to buy batteries, conversion kits, etc. Thus, by providing Electric Vehicles loans, the company is not only helping the customers in generating a source of income but also encouraging the use of eco-friendly vehicles.

Employer loan is another closed-ended credit product. Revfin charges interest on the loan amount only. Loans are also available through approved partners of Revfin and can even be used for celebration, education, medical emergencies, travel, etc.

Revlon is another service provided by Revfin for any emergency to qualify existing customers for start-up business grants and small business funding.

Revfin associate loans are offered to staff members, partners, and affiliates of Revfin. Revfin also assigns the gamification platform Rev-a-thon. In this, users can collect points for specific tasks. This helps Revfin to get EMI from customers on time. It also ensures access to more and better financial products to customers in the future.

There are four components of Rev-a-thon: tasks, Revs (Points), levels, and rewards.  Revfin focuses on the distribution of loans to the under-penetrated markets.


Revfin has raised business start-up grants as seed funding from angel investors. Harsh Jain (CEO, Litejoy International) was one of the predominant investors of Revfin. The fintech start-up Revfin has been using this funding for technology up-gradation and better distribution. Other investors are Anil K Goyal (founder of Anil K Goyal and Associates), Anil Lanba (Senior Technology Executive at Pyramid Consulting), and Krishan P Singh (investor based in New York).

The extent of proper utilization of the funds is well brought out by the statement by Mr. Sameer Aggarwal –

“Through this seed round, we are looking forward to launching our services all over India. People residing in Tier-II and Tier-III cities are our core target group.”


Challenges and Plans of Revfin - Success Story of RevfinImage Source:- Freshworks

The success story of company Revfin is also spiced with challenges yet to be faced. The biggest challenge for a Fintech company is getting educated customers in tier III towns to apply for a loan. In tier III towns, the mindset of the people is such that it is very hard for them to believe that they can apply for the loan through a digital platform and app and can get money in their account.

As regards their future challenges/plans, Revfin has already partnered with many electric vehicle manufacturers and is trying to spread its wings to new geographies for customers. Revfin is also looking for other variants of electric vehicles for providing loans.

The inside story of inspirational start-up stories like Revfin keeps creative inputs in business alive.

Sameer Aggarwal remarked, Machine learning and data analytics have been in play for many years in developed economies like the USA and UK. India is now adopting such techniques for KYC and underwriting. Use of Artificial Intelligence is still in the early days and here is a lot more learning and benefit to be derived from it.

Colitco brings inspiring stories related to Startups, Angel Investors, Venture capitalists, Private Equity, and much more. Keep browsing our website for more inspirational start-up stories.

Visited 59 times, 1 visit(s) today

Sharing is caring
Close Search Window