Switch My Loan Private Limited

Business Overview

• Switch My Loan operates as a fintech ecosystem/loan marketplace under the brand SwitchMyLoan, offering digital-first financial services from short-term credit to high-value loans.
• It runs three sub-brands: Cready, all-in-one marketplace for loans, insurance, credit cards, RapidMoney, lending platform for underserved/gig-worker segments, and Qicky, premium lending for major life milestones.
• Company claims 5 years of operations, 1M+ customers served, and ₹5,000+ crore disbursed cumulatively, per official site, switchmyloan.in - self-reported, not independently verified.
• Founder & CEO Chintan Panchmatiya previously worked at Fullerton India, Karvy Financial, and Tata Capital
• Co-founder & COO is Hemali Bhatt.

Sector & Classification

Financial Services - Diversified/Fund Management Services; NIC K67110 (financial consultancy/advisory/brokerage); DPIIT-recognised startup (Falconebiz)

Directors & Key Management

GST Registrations

Not obtained. No individual GSTIN page could be located for this entity via knowyourgst (company-listing search returned HTTP 500, consistent with known blocked pattern) or mastersindia/findgst name search (404). PAN ABFCS7563M (single-source, Tofler) would be the basis for GSTIN(s) but no registration numbers, home state count, or status could be confirmed. Do not infer GSTINs.

Financials

• Partial.
• TheCompanyCheck: FY2025, year ended 31 Mar 2025, revenue ₹18.83 Cr, reported as 97% YoY growth, implying FY2024 revenue roughly ₹9.5-9.6 Cr, not independently stated.
• EBITDA and Net Profit for FY2025 are premium-locked on TheCompanyCheck.
• Tofler shows FY2021-FY2024 highlights only as YoY % deltas, e.g., EBITDA/PAT/net worth "down" sharply in FY2024, with actual INR figures behind a Tofler Pro paywall
• Tofler states operating revenue band "INR 1-100 Cr" for FY2024.
• Data is standalone (per Tofler).
• Auditor for FY2023: Karan Agarwal & Associates, TheCompanyCheck.
• No consolidated financials found, no subsidiaries identified.
• Net worth and borrowings absolute figures: not obtained.

Funding History

• No funding rounds found.
• Searched Entrackr and Inc42 (site search) for "Switch My Loan" - no articles returned.
• No Tracxn funding-round data accessible, page not found at attempted URL.
• Given the single small secured charge (see charges) and no reported equity round, the company appears to be bootstrapped/founder-funded and/or debt-financed rather than VC-funded, but this is inferred from absence of evidence, not confirmed.

Shareholding

• Partial.
• Tofler lists the four directors, Raj Satish Kariya, Hemali Yomesh Bhatt, Chintan Yogesh Panchmatiya, Himanshu Yogesh Panchmatiya, as shareholders but does not disclose individual share counts or percentage holding, locked behind Tofler Pro subscription.
• No external/institutional shareholders identified.
• No cap table or % breakdown obtained.

Loans & Charges

• Partial - sources conflict on details.
• One open charge of ₹1.5 Crore is confirmed by both Tofler and TheCompanyCheck.
• Tofler states: lender Union Bank of India, charge created/modified 31 October 2023, no satisfaction recorded (i.e., open).
• TheCompanyCheck states: lender listed generically as "Others", charge registration date 30 January 2023, satisfied charges ₹0.
• The amount (₹1.5 Cr) and open/unsatisfied status agree across both sources
• The exact lender name and date differ and could not be reconciled - flagging as a source conflict rather than picking one.

Related Parties

• Not obtained.
• No subsidiaries, holding company, or related-party transaction disclosures found, locked/unavailable on all fetched free sources.
• No group entity identified beyond the SwitchMyLoan brand family, Cready, RapidMoney, Qicky, which per the official site appear to be product brands of this same entity rather than separate legal group companies - not independently verified via MCA filings.

Credit Ratings

• None found.
• No CRISIL/ICRA/CARE rating located for Switch My Loan Private Limited in the sources checked.
• Consistent with a small, recently-incorporated fintech marketplace company that is not itself an NBFC and has minimal paid-up capital (₹1.11 Lakh) - unlikely to carry a public bond/loan rating at this scale.

Legal & Compliance

• Confirmed absence: searched Indian Kanoon for "Switch My Loan Private Limited" - "No matching results" returned, indicating no indexed court cases or judgments as of the search date.

Competitive Landscape

• Digital loan-marketplace / lending-fintech peers, named for category context, scale not verified against this company's own figures: (1) BankBazaar - large established loan/credit-card marketplace, bigger scale
• (2) Paisabazaar (PB Fintech) - large, listed-parent-backed marketplace, much bigger scale
• (3) MoneyView - lending app for underserved/salaried segment, similar-to-larger scale, VC-funded
• (4) KreditBee - consumer/gig lending app, larger scale, VC-funded
• (5) CASHe - short-term digital lending, comparable early-growth scale
• (6) Freo (, formerly MoneyTap, - neobank/lending app targeting similar underserved segment, comparable-to-larger scale.
• Switch My Loan, via Cready/RapidMoney/Qicky, appears to be an early-growth-stage player relative to these larger, more heavily VC-funded peers.

Frequently Asked Questions

Sources

Tofler (tofler.in/switch-my-loan-private-limited/company/U67110MH2021PTC357625) - identity, directors, capital, charges, shareholding, financials (band); TheCompanyCheck (thecompanycheck.com) - identity, directors, financials (FY25 revenue), charges, EPFO headcount; Falconebiz (falconebiz.com) - homepage only, no company-specific data retrieved despite attempt; official site switchmyloan.in (www.switchmyloan.in) - business overview, leadership, logo; Indian Kanoon (indiankanoon.org) - legal search, no results; Entrackr and Inc42 site searches - no funding articles found; mastersindia.co and knowyourgst.com GSTIN lookups attempted, both failed (404/500).