Want a Loan in an hour? This startup might HELP.


Founder – Piyush Jain, Sumit Jain, and Mohit Bansal

Website – Phocket


Recently we celebrated the holy festival of Diwali. Many people, including me, bought something expensive on the day of Dhanteras. For some, the definition of expensive is a watch worth 5k, and for others a car worth 500k. And somewhere between that 5k and 500k, many of us wished for something bigger/better but couldn’t due to less cash in hand.

Now, that is a problem for many due to the monthly pay cycle and an insignificant Diwali bonus. Actually, that used to be a problem in the past but not anymore. This digital worlds’ entrepreneurs have many solutions to that problem. And, one such solution comes from the startup we are going to discuss here.

May it be paying rents or paying bills, meeting EMIs or paying education loan, or just some extra cash for a trip before the next salary, this startup will undoubtedly be of your help. So, without further ado, let me help you from making embarrassing excuses to your landlord. Presenting to you our today’s startup: Phocket.



Phocket is your once and for all solution to meet our short-term money needs if you reside in Delhi, Gurgaon, Noida, Faridabad, Ghaziabad, Jaipur, or Kolkata.


But, what is Phocket precisely?

Phocket is a fintech startup company based out of Delhi. It is a salaried professional’s instant access to cash. Phocket, essentially, provides short-term loans(ranging from 5,000INR to 100,000INR) to those in need at an affordable daily interest rate. In short, Phocket is the answer to limited salaries and ever-increasing expenditures.


The story behind Phocket?

Piyush Jain, Sumit Jain, and Mohit Bansal went through the common man’s problem of cash crunch themselves and decided to develop an app which can help a common man pass through cash shortage period during the times of emergencies.


How it works? 

Firstly, if you are 20 years old or above Indian citizen with a monthly salary of 15,000 or more, then you are eligible to apply for a loan.

Once you meet the eligibility criteria, you have to register yourself via their Android app or website and provide a few documents while applying for the loan. The whole process of registering and applying will take no more than 5 minutes. As soon as you apply, your credit score will be checked, and the loan will be approved in a few hours.

And, that’s about it.


The successes of Phocket?

Phocket, despite being a young company, has had many milestones within months let alone a year. In the span of a few months, Phocket had their app downloaded for more than 50,000 (Remember: This app is of benefit only in some regions). A total of 1500+ loans are passed within a few months amounting a total of whooping 2.2+ crores. Additionally, more than 80% of the customers are repeating customers, which tells you about the services they provide and the accomplishments they had.


Final words:

As the Times of India said, Phocket is indeed “Helping people manage cash crunch in crisis”. This product developed by Piyush, Sumit, and Mohit is another example of “Solving a problem always leads to success.”

This startup and every other startup we discuss here on startupurban motivates many, and I intend to share many more success stories.

I hope you are inspired by this story. Will be sharing many such soon. So, stay connected.

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