Ignite Startups: Unlocking Low-Interest Loans With Ashutosh Purohit of Yenmo

Episode 83 of the Ignite Podcast

In this episode of the Ignite Podcast, we sat down with Ashutosh Purohit, the CEO and founder of Yenmo (YC W24), to discuss how his company is revolutionizing the financial services sector in India. Even if you don’t have time to listen to the entire podcast, this blog post captures the key insights and highlights from their engaging conversation.

Introduction to Yenmo

Yenmo is an innovative fintech company based in India, specializing in offering loans against mutual funds and securities. Ashutosh Purohit, the brain behind Yenmo, shares that the company’s mission is to provide low-interest loans by using mutual funds or stocks as collateral. This approach reduces the interest rates significantly, making them roughly 50% lower than traditional personal loans available in the market.

The Genesis of Yenmo

The inspiration for Yenmo came from Ashutosh’s tenure at Navi, a financial services company in India founded by the creator of Flipkart. During his time at Navi, Ashutosh observed that many individuals seeking high-interest personal loans already had investments in mutual funds. Despite having these investments, they were not…