Interview with Mr. Subhash Acharya, Co-founder & Director of Seeds Fincap Pvt. Ltd., a Non-Banking Financial Company- Non-Deposit Company (“NBFC-ND)
Subhash Chandra Acharya is a Co-Founder and Director of Seeds Fincap Pvt. Ltd. with over 15 years of experience in the BFSI sector.
He is a passionate and enthusiastic professional with a proven track record of accomplishments in various financial services areas such as operations, microfinance, NPA management, planning and development, human resources, entrepreneurship, sales and marketing, insurance, client relationship management, training and development, and production.
Subhash has worked with several leading companies, including Jindal Stainless Ltd, Bharat Financial Inclusion Ltd (formerly SKS Microfinance), Satin Creditcare Network Ltd, SV Credit Line Pvt. Ltd, and Satya Microcapital Ltd.
Throughout his career, Subhash has held key responsibilities, including designing, building, operationalizing, and managing Satya Microcapital Limited as the Head of Operations.
Under his leadership, the company’s assets under management grew from scratch to Rs. 800 crores within just three years.
Subhash is an alumnus of the Institute of Rural Management Jaipur, where he earned a Post Graduate Diploma in business management, and Malviya National Institute of Technology Jaipur, where he earned a Bachelor’s degree in Technology in Metallurgical Engineering.
As a seasoned and result-oriented professional, Subhash has extensive experience in the financial services sector, entrepreneurship, sales and marketing, and insurance.
Before co-founding SEEDS, he worked as the Head of Operations at Satya Microcapital Limited. Prior to that, he served as Senior Vice President- Operations at SV Credit Line Pvt Ltd and held various roles at Satin Creditcare Network Limited, Kashvi Group, SKS Microfinance Limited, and Jindal Stainless Steel Limited.
Subhash has also contributed to projects undertaken by RICEM, DSP Merrill Lynch, Mahindra & Mahindra Ltd., and Hindalco Industry Ltd.
His expertise includes Operations, Microfinance, NPA Management, Planning & Development, Human Resources, Entrepreneurship, Sales and Marketing, Insurance, Client Relationship Management, Training and Development, Production, with specialization in launching and managing rural operations and Urban marketing.
Please tell us a little about your entrepreneurial journey
Subhash Acharya: Starting something new can be daunting, but it’s also necessary to push oneself beyond the comfort zone.
The first year of Seeds Fincap has been an incredible journey, marked by perseverance, creativity, and customer-centricity.
The company was founded on the principle of putting customers’ convenience first, with cutting-edge technology as the enabler.
The year began with a bang, as the company received its RBI license at the start of the fiscal year 2021-22. However, the second wave of Covid dealt a severe blow to the team’s morale, with many members getting infected.
Despite the setback, the team worked tirelessly to create a robust credit and risk mechanism, develop superior products, and build the necessary infrastructure.
The operational plans were delayed by three months, but the team remained undaunted, waiting for the pandemic to subside.
Seeds Fincap kicked off its operations in July and quickly established a presence in five states. The company opened 54 branches, with plans to expand to more states in the future.
With a highly motivated team of over 650 employees, the company disbursed over Rs. 260 Cr to 30,000 customers in just two years.
The journey has been challenging, but it has also been rewarding, with the team’s dedication and customer-centric approach bearing fruit. Seeds Fincap has set a strong foundation for growth in the years to come.
Kindly brief us about Seeds Fincap
Subhash Acharya: Seeds Fincap aims to provide financial service to the MSME entrepreneurs, and has disbursed over Rs. 260 Cr to date with over 30,000 active customers.
Industry professionals founded Seeds Fincap, backed by a robust technology platform and client-centric products, and driven by the rich experience of promoters and strong management capabilities.
Seeds Fincap has expanded to 54 branches with its presence across five states- Haryana, Rajasthan, UP, Bihar, and Uttarakhand.
What kind of financial products and services does your company offer, and who is your target customer base?
Subhash Acharya: Lending is the primary activity of Seeds, empowering workers, youngsters and small enterprises, focusing on enabling the underserved and unserved entrepreneurs across the country.
We provide flexible and progressive loan products as per the needs of our target market. Seeds emphasize providing satisfaction to the customers and maintaining transparency. We provide additional support to people living in Tier II, III and IV cities.
We offer loans to individuals engaged in Trading, Manufacturing, production, Services and the Dairy Industry on a micro or small scale with at least three years in the same line of business.
How did you come up with the idea to start a non-banking financial company?
Subhash Acharya: As a team, we recognized a market need for financial services that are specifically designed to cater to micro-entrepreneurs.
This realization led us to conceive the idea of creating a non-banking financial company that would offer sustainable financial support to this underserved segment.
Our vision is to provide multiple financial products that cater to the diverse financial requirements of micro-entrepreneurs and to leverage our business network to increase their margins and improve their standard of living.
By focusing on the needs of micro-entrepreneurs, we aim to make a positive impact on their lives and on the economy as a whole.
What makes your company different from other non-banking financial companies in the market?
Subhash Acharya: Seeds Fincap Pvt Ltd stands out from other NBFCs in several ways. Firstly, the company has a customer-centric approach, with a focus on offering tech-enabled, cost-efficient, and transparent financing to underserved micro-enterprises.
This is achieved through cutting-edge technology that streamlines operations and makes financing more accessible to those who need it most.
Another key differentiator for Seeds is its strengths in pre and post-disbursement operations, risk management, and effective governance.
The company places a significant emphasis on these areas to ensure that clients receive satisfaction from our service and outcomes.
Furthermore, Seeds maintains complete transparency in its operations through 100% cashless disbursement and collection.
Seeds’ core value of innovation is reflected in the company’s systems and products. This approach allows Seeds to remain ahead of the curve in a dynamic market.
What are some challenges your company has faced and how have you overcome them?
Subhash Acharya: At Seeds Fincap Pvt Ltd, we believe in taking every hurdle as an opportunity to grow and evolve. We have faced several challenges, but our team has always risen to the occasion and overcome them.
Our biggest challenge at present is acquiring the right talents for our branches. We believe in not compromising the quality of our products, services, or employees.
To address this challenge, we have adopted several strategies, including campus recruitment to engage with local talent and enhance their skills for our specific field.
We are also utilizing social media platforms and print media to spread awareness and attract enthusiastic and energetic candidates.
By focusing on building a talented and skilled team, we remain committed to delivering excellent financial services to our customers.
What was the inspiration behind turning into an entrepreneur?
Subhash Acharya: My inspiration to become an entrepreneur stemmed from my desire to empower underserved and unserved entrepreneurs across the country, with a particular focus on those living in Tier II, III & IV cities.
We recognized that rural populations have limited access to formal finance, and this leads to a high level of financial exclusion.
This challenge inspired us to offer easy loans without the need for collateral, to empower the dreams of workers, youngsters, and small entrepreneurs.
We believe that through our various flexible and progressive loan products suitable to their needs with utmost satisfaction and transparency, we can help bridge this gap and contribute to financial inclusion. Ultimately, our commitment to empowering underserved communities continues to drive us forward.
What are your success tips for young and aspiring entrepreneurs?
Subhash Acharya: My success tips for young and aspiring entrepreneurs are to stay focused, determined and persistent. Building a successful business takes time and effort, so be prepared to work hard and never give up on your goals.
Embrace a learning mindset, take calculated risks and surround yourself with a team of dedicated individuals who share your vision.
Understand that setbacks and failures are part of the journey and use them as opportunities to learn and grow.
Believe in yourself, stay true to your values, and keep pushing forward with passion and perseverance. With dedication and commitment, you can turn your entrepreneurial dreams into reality.
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