Indian founder of ₹1.15 lakh crore startup says bank denied him home loan, classified him as 'high-risk' borrower
Pravin Jadhav, founder and CEO of Raise Financial Services, shared the experience on X, highlighting what he described as the irony of the decision.
The founder of an Indian fintech unicorn has claimed that a leading private bank turned down his home loan application because he was classified as a "high-risk" borrower due to his status as an entrepreneur.
Pravin Jadhav, founder and CEO of Raise Financial Services, shared the experience on X, highlighting what he described as the irony of the decision. According to Jadhav, the same bank had previously honoured him as a leading fintech innovator.
"Founder's life is hard! My home loan application got rejected by a top private bank - just because I am a founder," Jadhav wrote.
Unicorn founder points to long banking history and strong credit profile
Raise, the parent company of stock trading platform Dhan, entered the unicorn club after securing $120 million in a Series B funding round led by Hornbill Capital in October 2025. The investment valued the Mumbai-based company at $1.2 billion, approximately ₹11,551 crore.
Despite co-founding one of India's fastest-growing fintech firms, Jadhav said the bank still considered him too risky to lend to.
In his post, he listed several factors that he believed strengthened his application. Jadhav said he had been associated with the bank for over 25 years and estimated that he ranked among its top 0.1% customers by assets.
"5x-6x of loan value in relationship with this bank," he wrote, referring to the size of his banking relationship.
He added that even an excellent CIBIL score of over 800 did not change the bank's decision.
Drawing attention to what he saw as a contradiction, Jadhav remarked: "And irony is this bank felicitated me as top fintech innovator or something like that.."
Social media reacts with similar experiences
Ending his post with humour, Jadhav joked that while the bank was willing to finance homes for his employees, it refused to extend the same trust to him.
"They can give a loan to team members our company employs, but not me - because as founder I'm a high-risk category. Damn... lagta hai office mein hi rehna padega zindagi bhar…" he wrote.
How social media users reacted:
The post drew widespread attention on X, crossing 35,000 views within a day and prompting users to share similar experiences.
One commenter joked that the entrepreneur simply needed to provide "three months' payslips" to satisfy the bank.
Another user, Abhilasha Purwar, said she faced a comparable situation while trying to purchase a ₹1.65 crore home.
"Precisely why I’m back in a job. 4 yrs ago: Tried buying a 1.65 Cr house with 30% downpayment, solid credit & history. Loan rejected because I was a founder running a pre-profit company (despite raising 15x the loan amount for salaries)," she wrote.
Another commenter summed up the issue by saying: "Banks understand salary risk better than founder risk, even when the numbers disagree."
About the Author
Kanishka Singharia is a Senior Content Producer at Mint with a passion for news, trends, and the stories shaping the digital world. She specialises in spotting viral narratives by constantly tracking social media platforms and turning them into engaging, reader-friendly stories. Her work ranges from fast-paced breaking updates to sensitive human-interest features, blending speed with clarity. <br><br> With over four years of experience in news and trend reporting, Kanishka has worked with leading organisations such as Hindustan Times and Times Now. She moves seamlessly between profiling business leaders and telling the stories of everyday people, covering national developments just as effortlessly as the memes and conversations that dominate online culture. <br><br> She also reports on real estate developments and civic challenges in major urban hubs like Bengaluru, Delhi, and Gurugram. Her coverage frequently explores the struggles of startup founders, inspiring journeys of CEOs, and the experiences of candidates dealing with the complexities of visa processes. <br><br> Kanishka holds an undergraduate degree in Journalism from Delhi University and a diploma from the Indian Institute of Mass Communication. Rarely offline, she spends much of her time scrolling through X, LinkedIn, Reddit, Instagram, and Facebook in search of the next big story. When she finally logs off, she enjoys binge-watching shows and exploring cafes in pursuit of good food and better conversations.
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