Happi is a fintech startup providing banking and loan facilities for unbanked/underbanked individuals in partnership with banks and NBFIs. They have identified a large market opportunity in serving this underserved segment.
Happi has gained early traction by onboarding 29 companies as clients over the past 11 months without any marketing. They have successfully disbursed loans worth BDT 1.65 million at 15% APR to founders and employees of these companies. Their client acquisition is growing at 15% month-over-month and loan request growth is 100% month-over-month with zero non-performing loans so far.
Their business model revolves around generating revenue from facilitating product purchase financing to fulfill customer desires for obtaining products through loans. Key upcoming milestones include an official public launch in April 2024, launching term deposits by June 2024, and launching a business banking app by Q1 2025.
Happi is currently seeking to raise $500k in funding to achieve their goals for 2024 of expanding their lending operations and launching new product offerings to serve the unbanked/underbanked market.
It is impressive what they have achieved so far especially without spending anything on marketing. Also their client acquisition rate and loan request growth is promising. I like the idea of serving the unbanked/underbanked using crypto and see this becoming a successful project if they can continue to execute and deliver on their promises. Show Less