A founder pitch: fixing India's rental deposit trap

Transcript

I think the biggest thing in this would be trust that you're trying to get but then people have to trust you I'm gonna give you one lakh rupees What will you build for me? Anyone who has ever entered a house in India knows the deposit trap You pay large amount of security deposit subfront And when you move out, getting your own money back becomes a fight India's rental economy is growing rapidly But the infrastructure behind it is still broken Almost 60 to 70% of tenants faces this problem So I am building secured We hold the deposit in an escrow count and invest it into fixed zeal assets Our computer vision analyzes the property with 50 plus parameters such as wall damage and pain damage We also automate rent payment reminders and vacating notices We have built a structure where both the tenants and the landlords have a structured workflow We are aiming to build the trust infrastructure of the renting space Our financial model is based on SaaS piece and protected funds Why should people trust you? So what if you go out of business? We'll be partnering with the NVFC bank to secure our funds into their escrow count How do you make money? We make money on the yield generated by the protected money You keep all of the yield We'll be investing the money into fixed zeal assets So we'll be getting around 6% returns And we'll be giving almost 4% of that to the landlords Not the tenants as the landlords don't have any incentives And at the end of the tenure, we'll give the whole security amount back to the tenants And the spread that is 2% to 3% will keep Have you already started this or this is your plan? No, I've started building this I've started the market research I've been to a few coalitions I asked them what how many complaints do you get for this And I went to almost 3 to 4 coalitions in Gurga And they said at least 20 complaints every day they get for security deposits by the landlords Interesting idea but I think you're a little early You know, just get a partner that people can trust So for now it's enough

Transcribed automatically from the video, so small errors are possible.