Whrrl is a B2B2C Blockchain PaaS startup working in the arena
of Warehouse Receipt Finance that helps Farmers, Traders & Producer Companies in raising
working capital to tide over lengthy crop cycles ranging from 6-12 Months.
Whrrl collects data
from warehouses with the help of IoT devices and puts that data on Blockchain creating an immutable
record of Collateral and its attributes like Ownership, Quality and Location. This helps lenders in
making informed decisions, cuts the role of intermediaries and reduces the risk of fraud.
Warehouse Receipt (WHR) Lending is one of the most
innovative and oldest lending product, been in vogue since Mesopotamian times. It's a
system of financing working capital to Farmers, Commodity Traders and Producer Companies
against their commodity stock deposited in warehouses and pledged with the lenders.
The uniqueness of Whrrl's products comes from combining benefits of IoT with Blockchain and Smart Contracts. Some of the unique features are:
Frauds like Multiple Lending & Fake Receipts have plagued this sector for long . By creating an immutable database of Collateral's ownership, Blockchain helps in eliminating instances of fraud.
Currently the lenders are dependent upon Collateral Management Agencies for reporting on continuous existence and monitoring of collateral quality which carries risk of collusion driven fraud. Our IoT led approach shall monitor Collateral for weight, movement, quality, etc. on a realtime basis thereby reducing dependence on manual inputs.
The Smart Contract enabled lending platform automatically executes certain transactions if certain conditions are met. Some examples can be Automated Approval, System Driven Margin Calls, Charge Creation/Vacation, Loan Transfer among others.
Whrrl has been co-founded by an experienced team of professionals from Banking, Finance and Technology domains having cumulative experience of 60+ man-years.
CEO
Ashish conceptualised the idea of Whrrl and handles Strategy, Finance & Partnerships for Whrrl. A serial entrepreneur, Ashish has worked in Debt Syndication for MSMEs for 15 years in India in addition to working as management consultant,
CFO-on-Demand and Risk Management Consultant. Ashish started his first tech startup in 2016 when he was creating an open API platform for MSME lending in India. He also co-founded Blockchain Advisory Council, a global platform of 100+ Blockchain professionals, techies, investment bankers and domain experts and been a blockchain consultant to startups and established businesses across the globe. Ashish sits on the advisory board of SocialPay, USA and is a member of Investment Advisory Committee of Bull Token, Norway.
CTO
Falguni has more than 18 years of experience in IT Industry having worked with global behemoths like Capgemini, iGate, 3i Infotech et al. A BFSI vertical expert in technology, Falguni has handled Fortune 500 clients like Abb, Chubb, J&J, ACE managing
multi-million contracts with team sizes of upto 100 people. Falguni has also been at the forefront of technology curve starting from microsoft technologies to data Mining, business intelligence and finally to Blockchain.
Product Head
Abhishek Bhattacharya is Whrrl’s Product Head.A 2x Entrepreneur (prior to Whrrl) and a 2x Author, Abhishek has worked with blockchain startups like Karachain, Zohem et. al. He was also Country Manager (India) for e-Sports token sale and is
co-author of a book on Blockchain and Cybersecurity to be published by Asia’s biggest publisher.