Disciplined Creditfor the Real Economy.
Pfundit is a Singapore-incorporated holding company building a regulated, technology-enabled lending platform for Asia.
US$1Tn+
Unaddressed credit demand across Asia
India · Southeast Asia · GCC†
60+ yrs
HSBC · J.P. Morgan · 3 exits
Three founders. Three exits.
25–30%*
Target cost-to-income
Projected within 24–36 months of India launch. Subject to regulatory approval and market conditions.
† Combined MSME and SME credit gap estimates: India ~$530Bn · Southeast Asia ~$300Bn · GCC / MENA ~$260Bn. Figures reflect TAM estimates from 3rd-party institutional research (e.g., EY 2024, ADB, IFC). Not a Pfundit forecast or commitment.
* Target cost-to-income of 25-30% is projected to be achievable within 24-36 months of launch in India. Subject to regulatory approvals and market conditions. Not a financial guarantee.
Mission & Vision
To expand access to regulated credit by financing productive real-economy activity across Asia — compliantly, efficiently and at scale.
India's MSME sector faces a credit gap of approximately $530 billion. Southeast Asia adds a further $300 billion shortfall. Across both regions, over 700 million adults remain outside the regulated credit system. The barrier is not demand — it is the cost and complexity of serving them. We are building the infrastructure that makes disciplined lending at this scale commercially viable.
To be Asia's most trusted technology-enabled credit platform by 2030 — regulated, scalable and built on infrastructure that compounds over time.
We are not building a fintech app. We are building a regulated financial institution that holds a licence, manages a loan book, stands behind every credit outcome and deepens its operating advantage with every loan made. Across India first, and across Asia by design — not by extension.
What We Are Building
India NBFC
Pfundit is establishing a regulated NBFC in India focused on shorter-tenor, asset-aware credit tied to real transaction flows — with every exposure underwritten and monitored at the asset level from day one.
The platform targets segments where structured, data-driven financing improves risk-adjusted returns: consumer and MSME working capital, advance against future rental income, supply-chain discounting and circular-economy supply chains where established off-takers anchor the transaction.
Bank-grade governance, explainable technology-driven underwriting and transparent portfolios — designed to meet institutional expectations on risk sharing, reporting and regulatory alignment from the outset.
SEA & GCC
Pfundit was incorporated in Singapore because the founders' operating experience is regional. Once the India platform is established and operational, the same model — transaction-backed credit, asset-level monitoring, institutional governance — is designed to extend into Southeast Asia and the GCC.
Southeast Asia carries an MSME financing shortfall exceeding $300 billion (ADB). The GCC and MENA region carries a further gap of approximately $260 billion (IFC), with SMEs securing just 12% of the credit they require. These are not parallel tracks. They are a deliberate second chapter — enabled by the same infrastructure, governance standards and team that builds India first.
Hub & Spoke Model
National reach without proportionate headcount or physical infrastructure.
Regulation-First Architecture
Mandatory human oversight at every decision gate. Compliance by design, not by retrofit.
API-First Integration
Partners connect through documented, stable interfaces. Integration is a founding design principle, not a future roadmap item.
Technology-Driven Underwriting
Credit workflows built on data and decisioning tools from the first loan originated.
Financing India's Circular Economy
India's waste and materials-recovery sector is scaling rapidly — and the working capital to build it out remains structurally scarce. Pfundit is designing asset-backed credit for the operators closing the loop: waste-to-energy converters, refurbishment and e-waste recovery businesses, and second-life battery operators. These are established businesses with observable off-take relationships and verifiable cash flows — exactly the transaction-anchored structures our credit model is designed to serve.
US$54B
India waste management market by 2030 — up from US$22B in 2023
Recycling Waste to Energy
Asset-backed financing for waste-to-energy and biomethanation operators converting municipal and industrial waste streams into energy.
US$218B
Projected annual value of India's circular economy by 2030
Repurposing Electronics & Appliances
Working capital for refurbishment and e-waste recovery operators extending the life of electronics and home appliances instead of landfill disposal.
500K tonnes
EV batteries requiring recycling or repurposing by 2030
Repurposing Batteries for Second Life
Receivables and inventory financing for operators redeploying retired EV and industrial batteries into second-life energy storage.
Market estimates: NextMSC India Waste Management Market (2024); IBEF / Kalaari Capital circular-economy projections. Figures reflect total addressable market opportunity from third-party research, not Pfundit's current loan book or AUM.
Why the Model is Built
to Compound Differently
A greenfield build means zero legacy cost. A technology-first credit stack means faster decisions at lower operating cost. A Hub & Spoke distribution model means national reach without proportionate headcount. These design choices produce unit economics that incumbents cannot replicate without replacing their entire operating stack — and that improve as the platform scales.
Cost-to-Income Ratio
The Advantage is Structural, Not Cyclical
* 25-30% cost-to-income target is projected to be achievable within 24-36 months of launch in India, based on technology-led cost architecture, Hub & Spoke design and digital-first origination. Subject to regulatory approvals and market conditions. Not a financial guarantee.
Three founders. Three exits.
60+ years across HSBC and J.P. Morgan.
Bankers who have built. Founders who have exited.
Sanath Shetty
Founder & Director
Sanath is the credit and operational architect of Pfundit. Twenty-five years across HSBC India, Singapore and J.P. Morgan Singapore — running retail lending portfolios, building collections frameworks and leading corporate payments origination across Asia-Pacific — give him direct, hands-on command of everything Pfundit's lending model requires.
Consumer Credit Risk & Payments · 25+ Years
Atin Bhutani
Co-Founder & Director
Atin brings the rare combination of institutional banker and proven entrepreneur. A decade at HSBC India and Singapore — culminating as Country Head of International Subsidiary Banking in Singapore — was followed by co-founding and scaling In.Corp Global to a private equity exit. At Pfundit he leads governance, capital strategy and investor relations.
Corporate Banker · Entrepreneur · Governance Expert
Madhujeet Chimni
Co-Founder & Director
Madhujeet has built, scaled and exited companies across Asia, Europe and Latin America over two decades — from Stone Apple (acquired by Hitachi Consulting) to In.Corp Global (PE exit) to Blue Planet Environmental Solutions, backed by IFU and Novo Holdings. At Pfundit he leads capital strategy, board governance and the regional platform build.
Serial Entrepreneur · Institutional Capital · Technology
One institution, built for the people who back it.
The Leadership
Founded by former HSBC and J.P. Morgan banking executives alongside serial entrepreneurs with a track record of Private Equity exits.
The Opportunity
A greenfield entry into Asia credit, pairing institutional-scale compliance with native artificial intelligence from day one.
The Discipline
Data-driven workflows and autonomous monitoring operate within a mandatory human oversight protocol — compounding efficiency without compounding risk. Every credit decision carries a named, accountable signatory.
Built on Regulated Rails
A Singapore-incorporated holding company operating to institutional standards from day one — designed for the scrutiny of regulators, investors and partners.
Institutional structure from day one
- Singapore HoldCo (Pte. Ltd.) — ACRA registered (UEN: 202544131H, 2025)
- Board of Directors with independent oversight (in formation)
- Single-purpose corporate structure — no legacy entities or prior business history
Risk & Compliance
- Regulatory compliant AI architecture as a founding constraint
- Mandatory human-in-the-loop at every decision gate
- Full explainability and audit trail on credit decisions
Data, Security & Audit
- API-first architecture with controlled data access
- Asset-level monitoring from the first loan
- Transparent, institutional-grade reporting
- Clean capital architecture from day one
2025
Singapore HoldCo incorporated (ACRA)
2026
India subsidiary formation & board structuring (underway)
2026
RBI NBFC-ND-ICC application (Pre-application stage)
Target: 2026–27
Regulatory approvals & first-loan operations
The right conversations shape the institution.
Pfundit is at the stage where early relationships define the platform. We welcome conversations with institutional investors, family offices, venture capital, debt providers, banking counterparties, technology partners and senior advisors who want to engage at the ground floor.