Administrator | September 26, 2016

Artoo

ARTOO

A technology platform for loan disbursement and management in the financial sector.

www.artoo.com

Incubated Since 2012 Headquarters Bangalore, Karnataka Sector Microfinance Sub-sector Technology
Senior advisor PR Ganapathy Portfolio Manager Aina Gaur

"Our vision is to improve quality of lives of poor borrowers by improving access to financial services through technology.

- -- Sameer Segal, Founder, Artoo.

The Entrepreneur

Sameer Segal holds a BTech from the National Institute of Technology, Karnataka and is a StartingBloc Fellow (MIT Sloan). It was while he was at Ujjivan Finance, that the idea of a tech platform began to germinate.

Kavita Nehemiah holds an undergraduate degree in Economics (Hons.) from St. Stephens College, New Delhi and an MBA from Cornell University. Prior to Artoo, Kavita worked with Ujjivan Financial Services, Rent-to-Own Africa and VisionSpring.

Indus Chadha earned her BA in the Study of Women & Gender and English Language & Literature from Smith College, and her MFA in Creative Writing from the School of the Arts at Columbia University.

The Challenge

Globally, 2.5 billion people do not have an account at a formal financial institution. Today only a few financial institutions are able to serve this population viably. There are still millions of people who are first time technology users at a time when all financial processes are mostly done online. There is a major gap.

The Innovation

Artoo's CRM solution offers a suite of modules, such as lead management, loan origination and credit underwriting, and is targeted at clients in microfinance, micro, small and medium enterprise lending, and mainstream banking. It has developed an Android and Cloud based platform that allows financial institutions to take all field processes online and track their business with real-time input.

The Impact

By removing error-prone, time consuming paper processing and by infusing analytics into field operations Artoo has improved productivity by 51%, and shown 43% reduction in loan processing times and a 45% reduction in customer acquisition costs. Their platform intends to make these institutions more viable and hence more accessible and affordable to the end customer. Through its partner organizations Artoo serves 7.2 million end customers pan-India. It is now exploring international expansion of its financial inclusion product to countries such as the Philippines and Indonesia.

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