Money2Me: India’s rising NBFC gold market player

India’s latest addition to the non-banking financial services companies, Money2Me provides you with gold loans- at your fingertips. The Private limited and RBI registered company has been promoted by Nayan Kambli. Mr Nayan Kambli has been in the finance sector for 21 years and has experience in the various fields of fundraising (IPO, Debt syndication, private equity) as well as holds a master’s degree in Financial Management and Business Administration. He set up the company after understanding and thoroughly researching the workings of the gold market in India. Once he realised that the need for facilitating gold-related services and making it easier for people to avail of loans was on the rise, he decided to create Money2Me.

With his expertise, he aims to make Money2Me among India’s top ten Gold Loan companies, with its services catering to customers all over India. Since its advent in 2016, Money2Me has grown substantially. In order to expand further, the company aims to use both traditional as well as digital methods to grant gold loans. Mr Kambli does think that moving forward, phygital is the way to go. And, indeed there is a lot of untapped potential in the digital gold loans market towards which a lot of NBFCs are flocking. This is mainly because of the various tech-savvy users now preferring the ease of investing through their homes, especially post-lockdown. The company has recently launched their “Ghar Baithe Gold Loan” scheme to attract such customers and make it easy for them to avail gold loans from the comfort of their homes.

Furthermore, Money2Me has a customer-centric approach. They acknowledge that all of their customers across India are different and need different things. Keeping this in mind, the company functions to cater to the needs of all the people in the country by engaging the market dynamically. Its key features include providing flexible interest and tenure options, a safe and secure storage system, and no foreclosure. They also provide a fool-proof risk assessment mechanism to ensure its customers’ experiences are enhanced. The purity of the gold is constantly tested by a machine as well as a certified goldsmith, this ensures that the customer receives the best value for the product. It also goes through inspection via multiple evaluators in the case of high-level loans. There are restrictions in place on gold items with lower purity. Also, the valuation of the gold loans is undertaken by a third-party evaluator periodically to ensure all loans are marked at the market price.

When it comes to the functioning of the company, Money2Me has advanced security systems in place in their multiple branches and customised software for gold loans which offers transparency to the customer. It also has a wonderful mobile application so that customers can access their accounts anywhere and anytime. Further advantages are: minimum documentation is required without a guarantor and one can get a quick disbursement. Money2Me is certainly on its way to changing the dynamics of the gold loan sector.

Money2Me without a doubt is making a mark in the Indian Gold Loan NBFC sector. Currently, the company is supported by leading financial partners like SBI, Federal Bank, Citi Union Bank, South Indian Bank, CSB Bank and many more. The company aspires to grow PAN India, with a target of over 100 branches across India in 3 Years and eventually go global. Currently, the company laid the foundation of their latest branch in Ichalkaranji and Kolhapur, with an overall total of 15+ branches across India. Some of their pipelined projects include branches across Maharashtra, Gujarat and Karnataka. Under the leadership of Mr Nayan Kambli, the company’s Assets Under Management have grown significantly since its inception and are proving to show a promising upward trajectory.

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