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‘Believe in Karma, Do Good to Get Good’ Vijay of

Vijay-Money-loeThis Entrepreneurial Story is about Vijay Khubchandani Who Founded ‘’ located in Mumbai, India.

 When Started: Commenced Development in December 2010, Launched the Website in November 2011

Vijay Khubchandani – Bachelor of Commerce from Mumbai University, Certified Software Engineer & Web Publisher from SilverTech Institute and a Certified Insurance Advisor from I.R.D.A. Vijay previously was an Independent Insurance Advisor at TATA AIG Life and then was Founder & Director at MVK Financial Services and MINDSPARX. Is Currently Founder & CEO at Money from 2009 onwards.

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What motivated you to start your Business?

Information Technology is this one field that has always enticed me.. I am a techno-savvy person and have always believed that better Technologies and E-services are the building blocks of future.. Hence it was my desire to do something in this space. And being born and brought-up in a Sindhi Business family, with nobody who had ever done a job anywhere, it came to me naturally to dream of becoming an Entrepreneur..

Now prior to MoneyLeo, I had founded a Financial Services company in Mumbai for providing loans to customers in the year 2005.. I had an Authorized Direct Sales Agency tie-up with Citibank N.A. for their range of Mortgage Loan products. The company did very well in its initial years of business, but by the time it was 2009, I had started to realize that the customer woes were ever increasing and that it could be addressed to by going Online.. The Industry had a huge untapped potential with very few online players really offering the true solution.. Moreover the Online medium also offered a door to expand operations..

The idea of developing an Online portal for Loan Comparison started brewing in my mind around November 2009, and it was at this time when I registered the moneyleo domain name.. I had a prior certification in Web Software Development & Application from my education.. The Software background coupled with my Industry Knowledge & Exposure gave birth to and I founded the company and started working on it from December 2010..

Tell us about your Business is an Online Loan Comparison Engine in India, which allows its customers to COMPARE Home Loan Offers of various private Banks & NBFCs in India, and subsequently APPLY with multiple providers of their choice, by using a single Application Form..

Unlike other service providers, we don’t sell the Application details of our Customers.. Instead, we route the applications directly to the Authorized Personnel of the banks applied by the customers.. No DSA’s and No Middlemen.. We respect the Privacy of the User.. We never give the Users’ details to the Banks / NBFCs which they have not applied for.. This ensures the security of the details of customers with Moneyleo.. We ensure that the User gets a call from the Banks / NBFCs within 30 minutes of applying on MoneyLeo.. This ensures optimum Customer satisfaction and benefit from the heightened Customer interest at that point of time..

And moreover, our Comparison Results Page provide exhaustive Information / Parameters of up to 9 private banks to compare with across 8 loan products.. With the help of our Advanced Eligibility tool one can narrow-down and shortlist only those banks that offer the best deals for a respective customer profile..

All this not only saves the Consumer a lot of precious time and money, but also makes the entire Loan experience Hassle free and Intuitive.. It also removes the risk of Guess-work from the entire process and gives the User a sense of Control and Confidence..

In due course, MoneyLeo plans to add other financial products like Gold Loan, Loan against Securities, Life Insurance and General Insurance into its fold.

What is a Day in a life of you like?

I begin my Day at 9am, with the first two hours dedicated to replying E-Mails, reading Newsletters & updating Social Networks..

The next four hours involve activities like checking Site Analytics, Visitor Behavior, Content Engagement, Goal Conversions, Campaign Performances and Social Media initiatives, followed by an half n hour Lunch break..

Post Lunch, the next three hours involve planning for Product Enhancement, improvising Services, facilitating Customer Support, Feedback & Follow-up.. Also, all the offline meetings with Bank representatives, Product Development agencies and Marketing companies are generally undertaken during this time..

Around 7pm, I take a break of two hours off work.. Then again, 9pm to 11pm involves casual Surfing, reading Technology Newsletters, checking Latest Industry Trends & updating Social Networks..

One particular skill you got right and gave you best results.

I guess that my Eye for Detail is this one skill that has rewarded me with great results in Life..

What have been your biggest challenges in running your Business so far?

Just like any new Startup, the biggest challenge that we faced initially was to spread awareness about the existence of MoneyLeo..

How did you overcome these challenges?

As we did not have huge spending budgets to market our website, we took various small steps like doing basic Search Engines Optimization, interacting on Social Handles, posting on relevant Groups and Forums and showcasing our services at Startup events etc..

What have you found the most effective way to get new clients?

The most effective way that we have found for getting new clients is that of word-of-mouth publicity.. A good strategy is to initially focus on providing the best of service to a relatively smaller group of people, instead of giving average service to a larger group..

What advice do you give to other business owners?

While there are a lot of good advices given by various Professionals that float around the Internet, one good piece of advice that I would give to my fellow Business Owners is that of refraining from Lying and Cheating, as the ensuing Success won’t be worth it..

How did you keep motivated through difficult times?

I am an Optimist and a firm believer of the Karma theory.. In difficult times, I focus on the act of Doing and believe that in due course the appropriate results will come..

What are your Marketing, Funding and Team Building Strategy?

For all our strategies including Marketing, Funding and Team building, we are in consultation with TheHatch for Startups and MoneyLeo is one of its Portfolio companies..

Your Achievements? has been lucky to recently achieve a white-label association with, whereby we will be powering Loans on the Rediff Money section..

What’s your favorite quote?

Because the People who are crazy enough to think they can change the world, are the ones who do.

Who inspires you?

Steve Jobs

Do you have a Business Philosophy?

– Keep Consumer Pain at the Core and place every other aspect encircling it, for assured Success..

– Don’t just do a venture for Name, Fame and Money.. Create value for People and Society.. Contribute towards a greater good..

Contact links

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StartupFreak Wishes the Best for Vijay and his Team!

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