What happens when your startup loses 97% of its revenue overnight—and you still don’t shut down?

Bhavin Patel, Co-founder & CEO of LendenClub, returns to #DamaniTalks. But this time, it's not a victory lap. It’s a story of near-collapse and the bold reinvention that followed.

After scaling to ₹1,000+ Cr in monthly disbursements, LendenClub ran headfirst into regulatory reforms that wiped out most of its business. What followed? A ₹16 Cr quarterly loss, a brutal product reset, and a team that refused to give up.

Bhavin breaks down how they:

1. Navigated RBI’s toughest lending reforms

2. Rebuilt a high-trust, tech-first lending engine

3. Managed team morale in the middle of crisis

4. Turned every new product line into a breakeven playbook

5. Built one of India’s most disciplined fintech machines

This is the story of staying in the game without shortcuts, vanity metrics, or VC crutches. It’s about building real value when the world isn’t watching.

If you’re a fintech founder, investor, or someone riding the cycles of startup highs and lows; this episode is for you.

Timestamps:

00:00 - Introduction  

03:21 - Growing up, sports, and early influences   

05:16 – First venture in lending business   

09:09 - Starting LenDenClub: The origin story   

11:00 - Challenges in early fintech days   

15:11- Regulations impact on P2P business 

18:35 - Breaking through: profitability & scale   

25:17 - Building a strong team & shared vision   

28:01 - Shutting down the partnership model  

32:54- Break-even & crisis mangement 101  

35:07- Dancing your way to work- LenDen Club’s culture 

38:06 - The ₹16 Crore loss & recovery strategy   

 47:02- How LenDen Club stayed ahead of it’s game 

52:59- Hardik Pandya as brand ambassador 

55:11 - Using AI to revolutionize lending   

01:01:06- Bhavin's request to RBI 

01:06:25 - Rapid fire  

01:13:48 - Final reflections & vision for 2030   

About Our Guest:

Bhavin Patel, Co-founder & CEO – LendenClub

LinkedIn: https://www.linkedin.com/in/bhavinpatel2022/

X: https://x.com/ptl_bhavin?lang=en

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