A tech firm with an NBFC licence: how Apollo Finvest reinvented legacy in two years

Diksha Nangia, CFO and director, Apollo Finvest, and its CEO Mikhil Innani. Image credit: Apollo Finvest

Synopsis
Apollo Finvest, in its new avatar, is trying to change the fintech-lending landscape with its tech-first approach. But its high default-guarantee norm and fintech firms’ ambition to go it alone once they reach scale may come in the way. The company should also prepare in case the regulator raises data-privacy concerns around digital lending and asks other uncomfortable questions.

Mikhil Innani is a self-confessed tech geek. But the PharmEasy co-founder, despite his “obsession with technology”, never imagined himself stepping into the financial-services space even though it ran in the family. But blood is thicker than water. It was proved once again. In December 2017, Innani, who worked as a director-product at Hotstar after quitting PharmEasy, decided to join Apollo Finvest, a publicly listed NBFC his late father set up