OkCredit

The app lets shopkeepers record customer credit/payment transactions digitally instead of a handwritten ledger.

Homepage claims on faster recovery via automatic reminders.

Customers can pay directly from the reminder via GPay, PhonePe, BHIM or Paytm.

Entries are backed up online and recoverable on a new device; app also functions offline.

OkCredit's homepage lists kirana stores, mobile shops, electronics retailers, pharmacies, garment stores, jewellery shops, hardware stores and dairy businesses among the merchant types using the app.

Inc42's Series B coverage says most of OkCredit's customers transact in Hindi and are based in smaller towns.

OkCredit's official contact page directs merchants to reach the company through the app itself, via WhatsApp, or by email -- there is no publicly listed phone helpline.

The homepage advertises round-the-clock WhatsApp support while pitching the app as simple enough that merchants need no training and no accountant to use it.

OkCredit leans on social proof -- over 1 crore shopkeepers and a 4.6-star rating from 400,000+ Google Play reviews -- instead of named relationship managers or a referral program, neither of which the homepage mentions.

OkCredit's core product and distribution channel is its mobile app, listed on Google Play as 'OkCredit: Ledger, UPI, Billing'.

A core ongoing activity is running and scaling the app's backend, including migrating asynchronous messaging from RabbitMQ to Google Cloud Pub/Sub so it could handle delivery failures reliably as transaction volume grew.

OkCredit's data team builds software and models on merchant engagement data to underwrite creditworthiness, feeding the capital-provision decisions behind its OkLoan lending product.

The engineering team builds and open-sources Android performance-monitoring tools, such as an instrumentation library for measuring cold-startup time, reflecting an ongoing activity of profiling and optimizing app performance at scale.

OkCredit re-platformed off single-machine hosting onto Google Cloud -- using Google Kubernetes Engine for container orchestration, Cloud Pub/Sub for async messaging, Cloud SQL for managed databases, and Cloud Storage as a data lake -- to fix stability problems and cut infrastructure manpower needs.

The company holds two data types on its merchants -- direct ledger transaction entries and behavioral app-usage data -- stored in BigQuery; by the end of 2021 the platform had recorded $50 billion worth of transactions.

OkCredit's engineering org maintains 21 public repositories on GitHub, mostly in Kotlin and Java, including Android performance libraries such as OkLayoutInflater, an improved async layout inflater.

OkCredit does not lend on its own balance sheet for OkLoan; it partners with banks and non-banking financial institutions, which have together issued 65,000 loans worth about $46.35M through the product.

Core ledger app is free with unlimited use.

Paid tier adds ad-free usage, multi-device access, GST billing, unlimited SMS reminders and priority support.

OkCredit partners with banks/NBFCs to originate loans to merchants through its OkLoan product, after regulatory pressure forced it to halt its earlier P2P investment product OkNivesh.

OkCredit spent INR 25 Cr on employee benefits in FY25, a 7% decline from INR 26.9 Cr in FY24, as the company continued to manage headcount-related costs.

In FY23, employee benefit expenses were OkCredit's largest cost center at 45.7% of total expenses, after falling 47% to INR 26.14 Cr from INR 49.46 Cr in FY22 following a roughly 35% workforce reduction in February 2022.

Marketing costs fell 83% year-on-year to INR 83 lakh in FY25 from INR 4.8 Cr in FY24, continuing a multi-year pullback in customer-acquisition spend.

Support service fees, covering technology infrastructure and other third-party services, rose 28% year-on-year to INR 4.9 Cr in FY25 from INR 3.8 Cr in FY24.