Today, we have the pleasure of interviewing Sharad Kumar Jain, Founder and CEO of K2D FinServ.
Tell us something about yourself.
I have finished my BCA graduation from DG Vaishnav College, Chennai. I am basically from Rajasthan. We are settled in Chennai since 2003. I had finished my schooling in the Hindi medium in Rajasthan's very small village called DEH in Nagaur District. Studying in Chennai was the toughest part of my schooling because coming from the Hindi medium, and all of a sudden, all books are in Complete English were a nightmare. I had joined my dad's business in 2006. But it was not my cup of tea, coming from a computer application background, I always wanted to do something related to that only. After serving in the Finance industry for 15 years, in 2019, I started working on this Project called K2D-FinServ.
What is the idea behind K2D FinServ?
Today, many players are giving digital solutions for loans on new vehicles. Still, the Used Vehicle Finance Industry has been left untouched. There is a huge gap and scope for digitalization because there is no such digital platform like k2d Finserv, which solves this issue. Now users (loan seekers) need not run around for loans. We at K2D Fintech Private limited have digitalized the initial process of loan seekers. Users have to download the application and can fill the loan requirement. We will send multiple offers to users which we are receiving from nearby financiers. Users can choose the best offer and have to go financier office for loan disbursement.
How did you get into what you do now? Please tell us more about your journey.
Being into vehicle financing, we deal with the middle class or the lower-middle-class public, i.e., two-wheeler owners, Auto-Rickshaw drivers, taxi drivers, or Rs 20000 to Rs 25000 salaried persons. We know very well how much they struggle to find a vehicle financier. At the same time, it is tough for a financier to board new customers, or we can say, borrowers. After working for 15 years in the finance industry, I realized it is time now to try my dream, which is always surrounded by computers and digitalization.
Who are your role models?
Zack ma the creator of the Alibaba group. He is a perfect example of success. It's a dream of mine to meet him once.
What inspires you?
The work style of APJ Abdul Kalam and Prime Minister Narendra Modi inspired me a lot. These both are self-made personalities. They crossed their boundaries with their dedication; this is a perfect example of hard work. They proved that we should do our work with honesty and don't think about people's criticism. They achieved the highest post in the world's second-largest democratic country. Just imagine what their family background was and what recourses they had.
Please tell us about your company.
Its K2D Fintech Private Limited headquartered in Kilpauk Chennai and is STARTUP INDIA recognized company. We are having a very balanced team of youngsters and industry experts. Jayesh Tater is handling the team's toughest task, Partners Association. Bharat Kumar Jain, chartered account handles finance part. Abishek Jain, India's one of the youngest CS, is handling Policies and Compliance. SK Dogra, IPS, is our Legal advisor and mentor.
What is your Mission and Plan ahead?
Simplifying one's life is the motive. People should not struggle, and our idea really reduces stress. We are launching this App from Chennai and very soon in other cities too.
Is it a revenue-generating idea?
Yes, it is. We are not charging for applying for a loan in App. But, once he gets offers against his loan requirement from the nearest financier, he has to pay a very nominal and affordable amount to proceed further.
Is it expandable and scalable?
Yes. It is a tech-based Fintech Mobile app. It is expandable, yet we have to work offline to associate with Lenders.
Is it a funded company.
No. we are not yet funded. It's a bootstrapped company. Very soon, we will approach investors for funding for expanding the business.
What keeps you going when things get tough?
We didn't have developers. We didn't have a team. It was just an idea in PowerPoint when I started. There is a saying for a tough time “This too will pass.” If there is no hurdle on the route, this means you are on the wrong track. Facing problems means you are on the right track towards your goal.
What is your biggest fear?
“What if I didn't have this team ?” This question was the biggest fear for me. But Thank God, we solved this issue at the very right time. Now let there be any problem. We know we can sort out this too.
Any message for readers.
To all young champs, Come out of your comfort zone. Take Calculative Risks. Try something new. Be with knowledgeable people.
How can people connect with you?
We are reachable at email@example.com, or you can visit www.k2dfinserv.com for more details.