ChitMonks: Giving India’s oldest form of banking a new look
This blog is a sequel to our previous blog on ChitMonks under the Financial Inclusion Lab accelerator program. Chit funds are an old and essential financial service in India, which remains mainly in the analog mode. ChitMonks are working to digitalize the industry. In this blog, we take you through ChitMonks’ journey, the startup’s progress since the second cohort of the FILab, its struggles and achievements, and its plans.
Gramcover, a digital insurance platform, works to provide affordable insurance solutions to the low- and middle-income segments in India. Their technology-led distribution and servicing model reduces the inefficiencies and transaction costs involved in purchasing insurance policies.