$1.2B fintech CEO says bank rejected his home loan despite 800 CIBIL score
Pravin Jadhav, the CEO of a $1.2 billion fintech company, was denied a home loan by a private bank despite having an 800 credit score and significant assets. The bank cited his status as a startup founder as a high-risk factor, sparking a debate about lending criteria for entrepreneurs.
Why it matters
The incident underscores the systemic friction between traditional banking risk-assessment models and the modern, non-linear financial profiles of startup founders.
A home loan rejection is something many borrowers fear, but for one of India's leading fintech founders, it came as an unexpected reality. Pravin Jadhav, founder of a fintech company valued at around $1.2 billion, recently shared on X that a leading private bank turned down his home loan application despite his long-standing relationship with the lender and a strong financial profile.In a candid post that quickly drew attention online, Jadhav wrote, "Founder's life is hard!" before listing the reasons why he believed the rejection was surprising. According to him, he has been a customer of the bank for more than 25 years, has a CIBIL score of around 800, and maintains assets with the bank worth nearly five to six times the value of the loan he had applied for.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in