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Kajal Ilmi Empowering Women Through Housing Finance

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Babita Sisodia, hailing from Dewas, Madhya Pradesh, found herself in a common yet challenging situation that many women in rural India face – invisibility within their own homes. Her tireless work in managing the household and caring for her family often went unnoticed, taken for granted. Financial dependence on her husband further limited her autonomy, leaving her with little to no money for personal expenses. However, Babita’s life took a transformative turn when she encountered AVIOM, a housing finance company founded by Kajal Ilmi.

AVIOM, which stands for Adhering to Vision of Inclusion of Masses, is on a mission to provide housing loans to women in rural and semi-urban areas, serving both salaried and self-employed individuals. Established in 2017 by Kajal Ilmi, who also serves as the CEO, AVIOM operates with the philosophy of being “run by women, for women, and lending to women.” The company offers loans ranging from ₹5,000 to ₹500,000, specifically for purposes such as home extensions, sanitation facilities, and renovations. With over 120 branches across 14 states, AVIOM has assembled a team of more than 55,000 women known as ‘Shaktis,’ who play a crucial role in sourcing loans for the company. To date, AVIOM has extended financial assistance to over 50,000 women.

Empowering Women Through Housing Finance:
AVIOM’s unique approach to housing finance has not only empowered women like Babita Sisodia but has also addressed critical issues such as sanitation. One of AVIOM’s distinctive features is providing loans for the construction of toilets, an aspect often overlooked by other financial lending companies. These loans have a ticket size of ₹270,000, with a loan tenure of up to 10 years and interest rates ranging from approximately 21 to 27 percent. Kajal Ilmi explains that AVIOM’s interest rate range is influenced by several factors. Since the company’s target segment primarily consists of individuals in the informal sector, assessing their income requires a surrogate evaluation, which involves home visits by AVIOM employees. This personalized approach incurs higher expenses, but it helps understand the borrowers’ income stability and repayment capacity in the absence of proper documentation.

Unlike major housing finance companies and public sector banks that offer housing loans at interest rates between 11 to 20 percent, AVIOM caters to a segment that is often overlooked by these institutions. As a result, AVIOM’s primary competitors are local moneylenders who charge exorbitant interest rates, often exceeding 60 percent on a compounded annual basis.
Fauzia Nazneen, General Manager – Credit at Svatantra Micro Housing Finance Corporation (MHFC), explains that companies like AVIOM, which offer lower ticket-size loans to customers mainly from rural areas, tend to charge higher interest rates. This is because accurately assessing the income of these borrowers is challenging due to the nature of their employment. The associated risks are much higher in such cases.

Svatantra MHFC, which operates in rural and semi-urban areas, offers interest rates between 13 and 18 percent for various housing-related purposes. Nazneen highlights that microfinance institutions have a strong presence in rural areas because they understand the needs of these customers better than institutions primarily focused on urban regions. AVIOM’s impact goes beyond providing housing loans. The company’s model encourages women to be co-owners of the properties for which they receive loans. This empowerment not only enhances their eligibility for higher loan amounts but also offers them a sense of security, particularly in regions where women may face domestic violence and threats of eviction.

Furthermore, AVIOM’s unique recruitment and training program, known as the Shakti movement, empowers women in rural areas to become financial literacy ambassadors and sourcing agents for the company. Babita Sisodia, along with many others, has become a branch manager through this initiative, mobilizing thousands of women in her community. Kajal Ilmi’s journey from the corporate world to entrepreneurship has led to the creation of AVIOM, a market leader in its niche segment. The company has raised multiple rounds of funding, attracted equity partners, and secured substantial debt from prominent lenders. It is currently profitable, with significant revenue generation in recent quarters. As AVIOM continues to expand its reach, the company has set ambitious goals. It aims to fund over a lakh toilets by the end of 2023 and increase the number of Shakti partners to over three lakh within the next few years. Kajal Ilmi envisions AVIOM becoming a listed company by 2026, aiming to become the largest rural women-centric employer in India.

In conclusion, AVIOM, under the leadership of Kajal Ilmi, has made a profound impact by providing housing loans to women in rural and semi-urban areas. The company’s commitment to empowerment, sanitation, and financial inclusion has transformed the lives of countless women like Babita Sisodia, offering them newfound independence and opportunities for growth.

BUSINESS

Empowering Women in Dubai’s Real Estate Market: The Vision and Journey of Leedwells Real Estate and Boon Stay

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In the dynamic and competitive real estate market of Dubai, where male dominance has traditionally been the norm, a new wave of female empowerment is making significant strides. Among the frontrunners of this movement is Leedwells Real Estate, a company established in 2021 with a mission to revolutionize the property market. Recently, in 2024, they expanded their vision with the launch of Boon Stay, a company dedicated to the holiday home concept. Together, these sister companies are committed to fostering a more inclusive and diverse industry.

Leedwells Real Estate: A Clear Vision for Real Estate

Founded in 2021, Leedwells Real Estate has consistently demonstrated excellence in the property market, leveraging over 12 years of industry experience. Led by CEO Aman Kaur and Managing Director Arshe Noor, Leedwells Real Estate has solidified its reputation as a reliable and innovative real estate agency in Dubai. Their dedication to client satisfaction and market expertise ensures that clients receive personalized services tailored to their unique needs.

Championing Women Empowerment

In an industry largely dominated by male professionals, Leedwells Real Estate stands out for its commitment to empowering women. Aman Kaur and Arshe Noor recognize the success and contributions of numerous female professionals in the real estate sector. By promoting diversity and inclusion, they aim to pave the way for more women to achieve remarkable milestones in their careers.

Expanding Horizons: Boon Stay

Building on the success of Leedwells Real Estate, Aman Kaur and Arshe Noor launched Boon Stay in 2024 to address the growing demand for holiday homes in Dubai. Recognizing the city as a global travel hub, Boon Stay offers a comprehensive platform where travelers can find luxurious accommodations and curated experiences. The company’s approach mirrors popular services like Airbnb, but with a distinctive focus on luxury and personalized service.

Boon Stay’s unique business model not only caters to holidaymakers but also serves investors looking to capitalize on Dubai’s lucrative real estate market. The company offers comprehensive investment opportunities, enabling clients to generate substantial revenue through strategic property investments. This dual approach of catering to both travelers and investors sets Boon Stay apart in the competitive landscape.

A Holistic Experience

For visitors to Dubai, Boon Stay promises a seamless and luxurious experience. From arranging premium accommodations to organizing bespoke luxury trips, the company ensures that every aspect of the client’s stay is meticulously handled. This all-encompassing service guarantees a memorable and stress-free holiday, allowing guests to fully immerse themselves in the vibrant culture and opulence of Dubai.

Future Prospects

As Leedwells Real Estate and Boon Stay continue to expand, their vision remains clear: to create a more diverse, inclusive, and successful real estate market in Dubai. By empowering women and providing unparalleled services to both travelers and investors, these companies are set to redefine industry standards and contribute to Dubai’s reputation as a premier destination for real estate and luxury living.

In conclusion, Leedwells Real Estate and Boon Stay exemplify the transformative power of diversity and innovation in Dubai’s real estate market. Through the unwavering commitment of Aman Kaur and Arshe Noor to excellence and empowerment, they are not only achieving remarkable growth but also inspiring a new generation of female leaders in the industry.

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The WittyFeed Triumph: Vinay Singhal, Parveen Singhal, and Shashank Vaishnav’s Journey to Content Dominance

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Vinay Singhal, Parveen Singhal, and Shashank Vaishnav have created a stunning success story with WittyFeed in the digital world, where content is king. Rising from the ashes of failed businesses, these computer experts changed course and built the second-largest content platform globally, only surpassed by BuzzFeed. This piece explores the story of these visionary founders and how WittyFeed rose to prominence in the content industry.

In 2013, faced with the setbacks of two unsuccessful ventures, Vinay, Parveen, and Shashank decided to stay the course. Ditching Evrystry.com and FollowMe247, they envisioned a content platform that catered to the needs of content creators, distributors, and consumers. This vision materialized in September 2014 with the launch of WittyFeed—a platform that rapidly ascended the ranks to become the third-most visited website in the Indian entertainment category.

For Vinay Singhal, WittyFeed is not just a content platform; it’s a technology play. Leveraging robust technology and analytics, WittyFeed ensures its content goes viral by intricately guiding content selection, creation, distribution, and monetization. Real-time data analysis and insights into user behavior empower thousands of influencers to disseminate content, making WittyFeed a formidable player in the global content arena.

WittyFeed’s strategic foresight extends to its strong network of influencers, positioning the platform years ahead of its competitors. Recognizing influencers as the distributors in the digital world, WittyFeed created Viral9.com—an influencer platform with around 15,000 influencers. These influencers, with millions of followers, redirect traffic to WittyFeed, creating a symbiotic relationship that propels the platform’s reach.

WittyFeed’s impact transcends borders, with a presence in Spain, the US, and the UK, while rapidly gaining traction in India. The platform boasts over 100 million sessions and 60 million unique visitors monthly, generating revenues of ₹30 crore in FY17. Programmatic advertising forms a significant revenue stream, complemented by sponsored content collaborations with around 70 brands, including Uber, Coca-Cola, and Zee Studios. By endearing itself to brands, WittyFeed aims to derive 40 percent of its revenues from brand partnerships.

While WittyFeed has thrived, the platform remains vigilant about potential challenges, especially as Facebook’s algorithms evolve. Vinay emphasizes the importance of steering clear of click-bait and focusing on quality content to maintain a symbiotic relationship with Facebook. Future strategies include the integration of video content, fostering collaborations with mobile apps, and seeking a series A funding round for expansion.

The success of WittyFeed lies in the synergy of its founders—Parveen Singhal, Vinay Singhal, and Shashank Vaishnav. Parveen, the Chief Content Officer, envisions video content as the next growth frontier. Vinay, with a knack for building solutions, steers the technology-driven aspects, while Shashank, the Chief Technology Officer, brings real-time data analytics to the forefront.

As WittyFeed charts a course toward greater heights, its founders remain attuned to the evolving nature of digital consumption. Vinay Singhal encapsulates the essence of their journey, emphasizing the imperative of staying at the forefront of change. The triumvirate’s journey from the brink of failure to commanding one of the world’s largest content platforms is not just a success story; it’s a testament to resilience, innovation, and the power of strategic vision. In an ever-evolving digital landscape, WittyFeed and its founders stand poised for continued impact and influence.

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Rahul Narang and Saurabh Arora: Architects of Healthcare Transformation at Lybrate

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Rahul Narang and Saurabh Arora‘s combined genius is evident in the rapidly changing field of healthcare innovation as they lead Lybrate, a ground-breaking online platform for medical consultations. The story takes place against the backdrop of Saurabh Arora, who attended Columbia Business School and IIT Delhi before purposefully changing his course. 2014 saw Arora leave his position as a data scientist at Facebook in Silicon Valley in order to pursue his homegrown business goals. This crucial choice launched Lybrate in 2015, a platform that has the potential to completely transform patient-doctor relations.

Arora’s vision for Lybrate germinated during a visit to India, where he keenly observed the challenges posed by self-medication in rural areas and the inconveniences faced by urban denizens. Fueled by a determination to bridge these gaps, Arora enlisted the expertise of his former colleague and friend, Rahul Narang, who assumed the role of co-founder and chief technology officer at Lybrate.

The platform, operating as an online out-patient department (OPD), strategically deploys technology to enhance the accessibility of quality healthcare across India. Arora’s mission was to seamlessly connect patients and doctors, transcending geographical constraints. In less than three years, Lybrate has garnered over 1 lakh registered doctors, facilitating upwards of 6 million interactions monthly. These interactions span doctor searches, health queries, and appointments for consultations and lab tests.

The triumph of Lybrate can be attributed to its innovative approach and meticulous planning. Arora underscores the critical importance of aligning the product with the workflow of doctors, fostering positive word-of-mouth recommendations. The nascent stages involved securing funding, with Gokul Rajaram, a luminary in developing Google’s AdSense network, playing a pivotal role. Lybrate secured a seed round of $1.23 million from Nexus Venture Partners, Rajaram, and independent investor Vispi Daver in August 2014. A subsequent funding round in July 2015 saw a commitment of $10.2 million from Tiger Global, Nexus Venture Partners, and Ratan Tata, propelling Lybrate’s mission to new heights.

The healthcare landscape in India presents a formidable challenge, marked by a concerning doctor-patient ratio of 1:1,700, as highlighted by a joint report from KPMG and Ficci. What sets Lybrate apart is its unwavering focus on alleviating the doctor shortage. The platform’s workflow begins with anonymous health-related queries from patients, evolving into online or offline consultations as comfort levels with the doctors on the platform grow.

Lybrate’s distinctive patient engagement model places the patient at the center, offering access to a comprehensive spectrum of healthcare services. This strategic differentiator positions Lybrate favorably against Practo, its major competitor, which primarily functions as a doctor discovery platform. While Practo concentrates on appointment scheduling, Lybrate is committed to transforming the patient-doctor interaction and propelling it into the digital realm.

Despite the myriad challenges, Lybrate has achieved a commendable turnover of over ₹22.45 crore in FY15-16, with aspirations to reach ₹25 crore in the current fiscal year. The platform boasts various revenue streams, including ‘Lybrate Consult,’ allowing users to consult preferred doctors for a fee. ‘Lybrate Lab+’ and ‘Lybrate Cube’ contribute significantly to the company’s revenue by facilitating lab tests and providing tools for doctors to enhance their online presence.

As the health tech industry witnesses an influx of competitors, Lybrate’s early entry into the fray positions it as a frontrunner. However, challenges persist, and success in this dynamic landscape hinges on delivering a substantial value proposition for both patients and doctors. The journey of Rahul Narang and Saurabh Arora with Lybrate symbolizes a commitment to quality and innovation, marking the advent of a new era in online healthcare solutions.

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