“Even a Unicorn Founder Was Rejected”: Fintech CEO Shares His Struggle Getting a Home Loan
New Delhi: Building a billion-dollar company may seem like the ultimate mark of success, but fintech entrepreneur Pravin Jadhav recently revealed that even being the founder of a unicorn startup did not guarantee him a home loan approval.
Jadhav, the founder and CEO of Raise Financial Services, shared on social media that a leading private bank rejected his home loan application because entrepreneurs are often considered a high-risk category by lenders.
“Founder’s life is hard! My home loan application got rejected by a top private bank — just because I am a founder,” Jadhav wrote in a post on X, highlighting the irony of the situation.
The rejection surprised him further because the same bank had earlier recognised him as a leading fintech innovator.
Jadhav is the co-founder of Raise Financial Services, the parent company of stock trading platform Dhan. In October 2025, the company raised $120 million in a Series B funding round led by Hornbill Capital, taking its valuation to around $1.2 billion and making it part of India’s unicorn startup club.
Despite his strong entrepreneurial background, long banking relationship and financial record, Jadhav said his loan application was declined.
Sharing details, he pointed out that he had been a customer of the bank for more than 25 years and claimed that his assets and relationship with the bank were significantly higher than the loan amount he had requested. He also mentioned having a CIBIL score above 800, which is generally considered a strong credit profile.
Adding to the irony, Jadhav said the bank had previously honoured him for his contribution to the fintech industry but still viewed him as a risky borrower when he applied for a home loan.
With a touch of humour, he said that while employees of his company might get their loan applications approved, he may have to continue working from the office because of the challenges founders face.
The post quickly gained attention on social media, with many entrepreneurs sharing similar experiences. Several users said banks often find traditional salaried income easier to evaluate compared to startup founders, even when founders may have significant assets and successful businesses.
One user commented that banks usually prefer regular salary records and payslips, while another entrepreneur shared that their own home loan application was rejected despite having a strong credit history and running a well-funded startup.
The discussion has sparked a wider debate on whether financial institutions need to rethink their lending approach towards entrepreneurs, especially those leading successful businesses with proven track records.
News source: Information for this article was gathered from a variety of reliable news outlets.
