What is Stashfin and who founded it?

Stashfin is a tech-led non-banking finance company founded by Tushar Aggarwal, who previously worked in global finance.

Why did Tushar Aggarwal start Stashfin?

Aggarwal started Stashfin after experiencing a rejected credit card application in India, realizing the need for a more accessible and transparent credit system.

What makes Stashfin's lending model unique?

Stashfin offers flexible credit lines with interest only on the used amount and no foreclosure fees, targeting borrowers overlooked by traditional banks.

Home / Business and Economy / Wall Street Vet Reimagines Indian Lending

Wall Street Vet Reimagines Indian Lending

19 Jan

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Summary

Rejected credit card application led to fintech startup.
Stashfin offers flexible credit lines to overlooked borrowers.
Company grew 30x, staying profitable with low capital.

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.