Name of the interviewee: Nimish Jain

Gender: Male

Annual income: Undisclosed (Reason being he has been a founder for couple of startups)

Age group:  25-30 Years

Designation: – Founder and CEO at Chefensa (his previous startup) and is coming up with a new company called your green ride.

 

Nimish is a very enthusiastic person who loves the concept of startups. He has been a co-founder of chefensa and is currently working on a new concept of your green ride. He is a pass out from Delhi School of Engineering, worked for companies such as OnMobile and actuaries department in ING VysyaLife insurance. He quit his job after few years and is now an avid entrepreneur. Nimish loves playing guitar and following football.

Following was the response from the interview conducted by LOANMEET:

Hi Nimish, good to see you here at LOANMEET’s office. So we will shoot our first question: – Any idea by any chance about P2P lending before we explained you the entire concept.

  • Yes of course I know about P2P lending. I have loved the concept from day 1. If I am not wrong UK was the first country to introduce the concept of P2P lending through a company called Zopa. Good to see LOANMEET taking this initiative here in India. I don’t know if it is the first company in India (smiles).

Would you opt for P2P lending as an investor?

  • A wrong question to ask an entrepreneur at the early stage of his career (laughs loudly). I am not in a position to lend money rather I would borrow money as this is what entrepreneurs look for. Cash Cash Cash….. To plough in their companies.
  • Also too early to think as my goals are focused towards running a successful startup. Maybe once I am financially stable I would definitely love to lend to money to people as I would be able to co-relate with the ones that would require. Today! I need money (smiles again).

 

Would you opt for P2P lending as a borrower?

Yes. I guess I answered this question above itself.

  • As an entrepreneur I am always in a cash crunch position and hence any source that would give me money is fine with me.
  • Also what I feel is LOANMEET can create a chain reaction as in if someone lends me money today, out of regard only I would want to lend the money to someone in future. Jab mujhe zaroorat thi toh mujhe kissi ne paisa diya toh kal jab kissi ko chahiye hoga mai zaroor dunga.

Do you think this concept would work in India?

  • A big yes. Reason being, India has a huge borrower and lender market. There are different class of people. People who have lots and lots of money and people who have fair bit and require money periodically/ frequently…. Maybe sometimes urgently. I see a good future for LOANMEET in the coming years. I would not be surprised if it turns out to be the next billion dollar startup.

And you know what people are in need of small amount of money which sometimes is difficult to get via banks. Getting money from banks is a pain in the butt trust me.