A fintech entrepreneur has claimed that a leading private bank rejected his home loan application despite his strong financial profile, citing his status as a startup founder as the reason. The incident has sparked discussions on social media about how founders are assessed for credit eligibility.
Pravin Jadhav, Founder and CEO of Raise Financial Services, shared the experience in a post on X. According to him, the bank classified him as a “high-risk” customer even though he has been associated with the bank for more than 25 years.
Jadhav said he has a CIBIL score of around 800 and maintains assets with the bank worth 5 to 6 times the value of the loan he had applied for. He also claimed to be among the bank’s top 0.1% customers based on assets.
Highlighting what he described as an irony, Jadhav said the same bank had previously recognised him as a leading fintech innovator but still declined his home loan application.
“They can give loan to team members our company employs, but not me — because as founder I’m high-risk category,” he wrote.
Ending his post on a lighter note, he added, “Damn… lagta hai office mein hi rehna padega zindagi bhar…” (Looks like I’ll have to live in the office for the rest of my life).
The post quickly gained attention on social media, with users sharing different opinions. One user said loan approvals depend on several factors, including the loan amount, monthly income and expected returns. Another suggested that Jadhav should consider closing his accounts with the bank. A third user commented that founders are often viewed as high-risk because a major financial event could allow them to repay long-term loans much earlier, reducing the bank’s interest earnings.
Raise Financial Services is the parent company of Dhan, a stock trading and investment platform. The Mumbai-based fintech startup entered the unicorn club in October 2025 after raising $120 million in a Series B funding round led by Hornbill Capital, taking the company’s valuation to $1.2 billion.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream LinkedIn | The Mainstream Facebook | The Mainstream Youtube | The Mainstream Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.