Mumbai-based AI-driven fintech platform, Quid, has recently marked a significant achievement by surpassing 8 million users since its inception in 2024. This rapid growth in the fintech landscape reflects Quid’s commitment to making borrowing accessible to all Indians, effectively bridging the gap between borrowers and RBI-approved banks and NBFCs.

Empowering Individuals and Businesses

Founded by Jitesh Shah in May 2024, Quid is dedicated to empowering both individuals and business owners. The platform enables users to discover a variety of tailored financial products including unsecured personal loans, business loans, and credit cards. Additionally, Quid delivers integrated financial solutions to non-financial applications, fostering digital growth and enhancing customer engagement.

Addressing Accessibility Gaps

Jitesh Shah stated, “We identified a significant barrier to financial accessibility for people aged 20-50 in relation to lending institutions.” He emphasized that Quid’s mission is to bridge this gap by offering a platform characterized by transparency, convenience, and user-friendly access to credit. With its accelerated growth, Quid anticipates reaching 10 million users by the end of the year.

Innovative AI Technology

What distinguishes Quid from its competitors is its innovative AI-driven technology stack. Notably, the platform features a Personal Loan Matchmaker tool designed to assist borrowers in discovering the financial products best suited to their individual profiles. The seamless 59-second loan application process ensures users can complete their applications in under a minute, offering a quick and hassle-free experience.

A Comprehensive Financial Ecosystem

“We believe in an integrated financial ecosystem where users can fulfill their financial needs without the need to navigate multiple platforms,” Shah added. Quid strives to offer this seamless experience, empowering users with the convenience and flexibility they deserve.

Enhancing Financial Literacy

Building on its current momentum, Quid is in the process of launching an AI-powered credit management product. This new offering aims to help users gain a better understanding and management of their credit scores. The personalized insights and tools provided will facilitate informed financial decision-making, reinforcing Quid’s commitment to promoting financial literacy and inclusion.

Looking Ahead

With a stellar 4.5-star rating on the Google Play Store, Quid is poised to expand its reach and plans to introduce its services on the iOS App Store soon. The company remains dedicated to enhancing credit accessibility and fostering financial inclusivity among the underserved and emerging segments of India’s population.