WeRize, founded in 2019, is a fast-growing non-banking financial company (NBFC) that operates across India, offering tailored financial solutions to underserved and underbanked segments of the population. Headquartered in Bangalore, WeRize has carved a niche for itself in providing affordable financial products to Tier-2 and Tier-3 cities. The company’s mission making financial services easy-to-access and fulfil the needs of individuals and small businesses.
With its innovative approach, WeRize has rapidly gained the trust of thousands of customers, helping them offer customized mortgages, unsecured loans and group insurance. They are building a socially distributed full stack fintech platform for emerging middle-class families in 5000+ small cities
Key Milestones of WeRize
- WeRize was established with a vision to offer financial inclusion to the underserved market segments across India.
- WeRize has enabled 10K+ financially literate freelancers in 2500+ cities to sell its financial products in their social circle using their Social Shopify for finance
- They have freelancers in over 2500+ cities providing high-touch services to rural India
- They have raised $25.75Mn equity ($115.5 Mn valuation) from British International Investment, Sony Japan, 3one4 Capital, Picus
- More than 300 Million individuals spread across 5000+ cities are benefitting out of their products and services
Key Milestones & achievements
- 1984: Opened as a representative office in Mumbai
- 2005: Expanded operations to Chennai and Delhi
- 2019: first foreign bank to receive a wholly-subsidiary license in India
- Asia’s safest bank from 2009-2023 by Global Finance
Vision and Mission of WeRize
Vision:
WeRize envisions a financially inclusive India where everyone has easy access to all kinds of financial products without any hassle
Mission
- To offer personalized financial solutions to the underserved markets across India.
- To manufacture and distribute customized mortgages, unsecured personal loans and group insurance* for 300Mn customers and their families
Products and Services Offered by WeRize
WeRize offers a wide range of financial products tailored to the needs of individuals and small businesses, particularly in underserved regions of India.
1. Personal Loans:
- Unsecured personal loans designed for individuals who has little chance to formal credit
- Flexible repayment options tailored to match the customer’s financial capacity.
- These loans come with lower interest rates and are target self-employed individuals.
2. Group Loans:
- Community-based lending products for individuals seeking loan collective welfare projects
3. Insurance Solutions:
- Affordable life, health, and accident insurance products aimed at low-income families.
4. Financial Literacy Programs:
- WeRize offers financial education programs designed to improve the understanding of financial products in underserved regions.
Conclusion
WeRize has rapidly established itself as a pioneer in providing affordable financial products to underserved markets in India. They aspire to democratize finance and make it readily available for people from Tier-2 and Tier-3 cities. As WeRize continues to grow and evolve, it remains committed to empowering individuals and businesses with financial solutions and make them financially literate to boot
