What a year 2020 was . Historic tragic and shambolic. There is no other way to startre ecting on the year gone by without talking about the insane psychological trauma allour team members have dealt with. It truly is a testament to the human spirit to see thekind of progress which has been taking place across industries despite a constant cloud ofnegativity surrounding us during these unprecedented times.
The pandemic has exposed the fragility of our healthcare ecosystem. The desperatetweets WhatsApp forwards lack of hospital beds absence of medication vaccines and theood of lifeless bodies are scars that none of us will forget!
This will result in 2 things:
? A brain drain: A set of folks convinced that there is no point to reside in a countrylike India. They will begin making plans to leave the country.
? Second it will give rise to revolutionaries a set of folks who will rise from theashes of this calamity to build scalable infrastructures so that their children never haveto go through what they went through
With PharmEasy I was fortunate to co-found a category-de ning company in theHealthcare space. Seeing the turmoil over the last year though I am con dent they will beone of the champions we need for this re-build I am certain they cannot do it alone. Weneed more players to step up.
The more I think about it Financial inclusion becomes a fundamental and core aspect ofthis rebuild. We cannot continue to be ok with 90% of India being outside the rails offormal credit. We have built a credit ecosystem that simply apes the West rather thanbuilding for our citizens.
One may ask why have banks excluded 90% of India ?
Here's why: Most of India requires and can a ord loans of only up to Rs 15000. Mostbanks do not sanction loans of less than Rs 100000.
Why? Well the cost for processing a loan for a bank is ~ Rs 4000. This includes thecost of customer acquisition paperwork credit underwriting cost etc. The unit economicsof a Rs 15000 loan does not make sense for a bank.
We need a fundamental re-think!
We need a category-de ning company in the Financial services space The gauntlet hasbeen thrown down!
Without this we take away any chance of growth for 90% of India. Without credit tobuild their dreams they are stuck living in mediocrity.
Luckily we have a solution & its called Digital Lending Using Digital Lending thecost of processing a loan can be reduced up to 80%
Further over the next decade we will see the rise of aggregators and platforms aslending companies. For them the cost of customer acquisition is zero. This is agame-changer!
At Apollo Finvest our mission is the democratization of credit and enabling nancialinclusion . Financial inclusion is as basic as electricity and a fundamental pillar to thefuture growth of our country. We are building the foundational rails for the nextgeneration of lending companies
As for the Apollo team I could not be proud. We went completely remote in early March2020 and have not been back in the o ce since. We took this call to keep the safety andhealth of our team as our number 1 priority but the fact that we have been able to do sowithout drops in performance is due to the A+ attitude of our team members coupled withthe phenomenal
organizational skills of our leaders .
Despite being a startup we have always been thorough with our planning processes anddocumentation. We think writing and detailing our ideas brings clarity of thought andmakes
execution that much easier . This aspect of the company's working culture has shonethrough over the last year and helped us operate smoothly in a remote environment.
We have built an incredible foundation so far. In the coming year we will be focusedon building out the team to drive the next generation of 10X growth for the company. Thiswill be in the form of 3-4 key hires. Head to our website to join aboard!
Mikhil Innani Chairperson