Founded in January 2023, today our company ‘Blance’ is India’s one & only goal-centric recurring deposit marketplace. A unique solution that combines traditional RDs with the goal-based needs of retail investors, RDs on Blance provide 5x better maturity outcomes than a regular RD. While users save systematically they will unlock brand discounts, credit cards, loans, and insurance options on maturity.
In our journey forward, we aim to forge partnerships with NBFCs, Banks, and other deposit-taking entities. This collaborative effort will provide our investors with a comprehensive retail investment perspective. Additionally, we are committed to assisting new-to-credit users in initiating their credit journey. Through secured credit cards and loans offered by us, we empower users to build their credit scores, subsequently opening doors to further credit opportunities.
Although our app is currently in the Beta version, it is fully operational. We are gearing up for a complete launch in the coming months, marking the next milestone in our mission to revolutionize the landscape of recurring retail investments in India.
- What is your growth and expansion Plan?
We plan to do a full launch in the coming months and also bring more NBFCs & Banks where users can save & get better maturity outcomes.
- What is the story of your Trademark?
Choosing the name ‘Blance’ was a balancing act in itself! Derived from ‘Balance,’ it embodies the company’s mission. When it came to naming our company, two things were clear: 1st, the domain should be cost-effective, and 2nd, that it should reflect our company’s vision. ‘Blance’ stayed because it perfectly encapsulates our vision – striking a perfect balance of Savings, Credits, & Rewards in our users’ lives.
- What are the core challenges you faced?
During the product development phase, we recognized that the fundamental challenge lies in the dynamics of demand and supply. While the demand is clearly evident, the supply side is fragmented and lacks unity. Integrating various entities such as Banks, NBFCs, and others onto a cohesive platform is pivotal but inherently challenging. Moreover, comprehending the demand side involves understanding the intricacies of the Indian/Bharat user’s psyche, which is no straightforward task. Simultaneously, delivering the right product that instills a sense of trust and safety adds another layer of complexity to the equation.
- What is your success, Mantra?
Be consistent, be persistent, have patience, & relentless execution.
- How do you keep yourself motivated to overcome the challenges you face?
We see the bright side of solving this problem can help millions of Indians: this keeps us motivated.
- What would be one tip which you wish to give to budding entrepreneurs?
Build fast & test with real customers it will automatically show your right path to success.
- Your hobbies
Listening to podcasts & music, going on cycling rides on weekends.
Know more about Blance:
- Legal Name: Vwelly Technologies Private Limited
- Location: Bengaluru
- Operational Cities: Bengaluru
- URL: https://www.blance.in/
- Founding members: Ashutosh Prakash Singh, Neeraj Gupta and Pankaj Gupta
- Core Services: Financial services; Recurring Deposits, Secured Credit
- The most successful Service: Recurring Deposits
- Core Innovations: India’s first goal centric recurring deposit (RDs) marketplace with returns up to 15% p.a.
- Products Available in: Google PlayStore & Apple Appstore
- Awards and Recognition: None
- Vision & Mission: To be a full-stack solution for people in India to manage their finances and achieve their dreams
- Contact details:
WeWork Prestige Atlanta, 80 Feet Main Road, Koramangala, 1A Block, Bangalore, KA –560034
Email id: contact@blance.in
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