Wall Street Vet Reimagines Indian Lending

Tushar Aggarwal's return to India after a successful finance career on Wall Street was met with a surprising obstacle: a rejected credit card application. This experience, despite his strong financial credentials, highlighted a significant gap in India's credit system. Aggarwal, an engineer with an MBA and experience at firms like Goldman Sachs, recognized the need for a more transparent and accessible lending platform.

Motivated by this, Aggarwal and his wife founded Stashfin, a non-banking financial company (NBFC) aimed at reimagining credit for borrowers often overlooked by traditional banks. The company secured its NBFC license from the Reserve Bank of India in March 2017, deviating from the common practice of acquiring existing licenses. Stashfin offers flexible, unsecured personal loans with pre-approved credit lines, charging interest only on the utilized amount and penalizing no foreclosure fees.

Despite initial challenges in explaining its novel credit model, Stashfin has achieved remarkable growth. As of 2026, the company has grown nearly 30 times its initial size, generating over $500 million in cumulative revenue while maintaining profitability and minimal equity capital expenditure. Aggarwal now aims to expand Stashfin into a comprehensive financial services provider, building trust in India's credit ecosystem.