New challenger Klear emerges in India
A new prospective challenger bank has emerged in India in the form of Bengaluru-based Klear.
The fintech appears to have only recently launched its website. It promises to create a “one stop” destination for users to manage their personal finances.
“The traditional banking model was built to suit the needs of the bank, rather than put the customer first,” it writes.
“We aim to make understanding your financial health approachable and easy.”
Interested users can register on the website. No further details of products, services, partners or funding are available at the time of writing.
The founding team of Klear consists of Sidharth Rao and Ishwar Gogineni.
Rao has worked at technology firm Digital Aristotle, and engineering firm Dynamatics Technologies.
Gogineni spent time as an intern at Deloitte and EY in 2018 and 2019. He currently works as an investment analyst at a family firm.
Klear has not outlined whether it will act as a digital neobank, a payments bank, or as a small finance institution.
However, there’s already a lot of stiff competition building up in India, including: Amica, Cash+, Epifi, Funq, Juno, Payzello and more.