Fintech Founder Says Private Bank Rejected His Home Loan Despite Strong Financial Profile

Home loan approvals often depend on factors, such as credit history, income and repayment capacity. Now, a recent post by a fintech founder has brought attention to the challenges entrepreneurs often face while applying for housing finance.

The discussion gained attention after Pravin Jadhav, founder and CEO of Raise Financial Services, shared on social media platform X that a leading private bank rejected his home loan application because he was categorised as a founder.

Founder Claims Rejection Despite Strong Financial Profile

Jadhav is the founder and CEO of Raise Financial Services, the parent company of investment platform Dhan, which was valued at around $1.20 billion after its Series B funding round in 2025.

Jadhav wrote in his post, “My home loan application got rejected by a top private bank – just because I am a founder.” He claimed the decision was not linked to his credit history or financial standing, but to the bank’s assessment of entrepreneurs as a high-risk category.

According to Jadhav, he has been a customer of the bank for more than 25 years and has maintained a CIBIL score of around 800. He further claimed that his assets and financial relationship with the bank were nearly 5-6 times higher than the value of the home loan he had applied for. Jadhav further said he could be among the bank's top 0.10 per cent customers in terms of assets, making the rejection even more surprising.

He described the decision as ironic, saying the same bank had previously recognised him as a top fintech innovator. Jadhav added, “They can give loans to the team members my company employs, but not me,” because he was classified as a founder.

Jadhav ended the post with a humorous remark, saying it seemed he would have to spend the rest of his life living in his office.

Social Media Users React To Founder’s Experience

The post also received significant attention on social media, gaining more than 135,000 views within a day. Many users shared their own experiences of the challenges faced by entrepreneurs while seeking loans. One user jokingly remarked that the entrepreneur simply needed to provide three months’ payslips to meet traditional lending requirements. Another user shared a similar experience, saying their home loan application was also rejected for the same reason, being an entrepreneur.