Hi everyone,  

Welcome to the 151st edition of The Pattern, a weekly where we dive into the latest from the world of economy, technology and finance. Let’s get started!  

In the universe of lending, Andromeda, a loan distribution firm, is shining brighter—moving north toward sustained success. It has quietly shifted the gravitational pull of India's credit ecosystem. Doing so has taught us something profound about the future of financial access: the real disruptors need not always be the savvy apps and can be creative traditional actors too. Sometimes, the winners are the ones who keep showing up—with people, products, and purpose. 

Recently, in a statement, Andromeda made their numbers public, showing impressive growth distribution-wise. At a time when the distributors focused mainly on digital-first loan journeys and AI-powered underwriting, Andromeda has been busy doing some deeply impactful work on building their physical reach. It just didn't choose between going digital or staying physical—they did both. 

By launching the OneAndro app , they used tech to make the process faster and more seamless while continuing to build trust through their wide on-ground network. This balance helped them expand their reach and improve customer and partner experience, especially as they now focus on growing deeper into Tier 2 and Tier 3 cities. Andromeda has built a strong on-ground presence with 470+ branches and 25,000+ financial advisors across 100+ cities. 

The results:  

In FY25, it closed with ₹1.08 lakh crore in total loan disbursals—a 25% YoY jump. They grew from ₹38,872 crore in FY22 to ₹86,500 crore in FY24. The firm is now set to reach ₹1.20 lakh crore for FY26. 

So why is Andromeda's growth such a big deal? 

This is happening at a time when most people thought Direct Selling Agents (DSAs) were no longer relevant. With banks and NBFCs pushing their own apps and digital loan platforms trying to focus more seamless journeys for the borrowers. But, they missed out on a seemingly basic insight. 

Real India isn't fully digital yet. Especially in Tier 2 and Tier 3 towns, people still want to talk to someone they trust before taking a loan. The rural population still relies very well on DSAs. They want clarity, guidance, and a human voice. That's exactly where DSAs like Andromeda are thriving—not just staying relevant but addressing the pain point of the rural lending ecosystem. As the rural economy is slowly emerging as a significant driver of economic growth, it's important to tap that market.  

That's how Andromeda outpaced its competitors. But even other DSAs did quite well.  

Ruloans disbursed ₹37,500 crore in FY24. Paisabazaar , a fully digital platform, closed at ₹14,800 crore. Wishfin has cumulatively distributed ₹25,000 crores so far. In comparison, Andromeda crossed ₹86,500 crore in the same FY. 

What also sets it apart is its wide product range. While platforms like Paisabazaar and Wishfin mostly focus on personal loans and credit cards and operate only online. Ruloans offers more variety, including gold and education loans, but significantly smaller in volume.  

Andromeda, meanwhile, offers over 200 financial products from 125+ lenders. From home loans to business loans, as well as LAPs and credit cards, their range of products gives customers real choices and lenders real reach. 

So, what does all of this teach us? 

1. DSAs are far from dead. They're simply evolving. As banks go digital and lending becomes more automated, reaching the last-mile customer has become even more important. DSAs do more than just bring in leads; they can help build trust and improve relationships. They understand the borrower's real situation in ways algorithms can't necessarily read (yet!). 

2. Partnerships are the real stars of Andromeda. With its vast lender’s network, it doesn't just offer more options but offers better ones. That means faster approvals, more personalised loan choices, and competitive interest rates for every kind of borrower. 

3. When it comes to modern lending, tech is non-negotiable. But what matters is how you apply it. Andromeda's digital transformation reduced turnaround times, improved transparency, and enabled better DSA performance. The lesson? Good tech should boost reach and performance, not try to replace human effort. 

4. Growth in lending is no longer a Tier 1 game. Andromeda knows real growth lies in Tier 2 and Tier 3 cities as rural India is growing every minute. 

"The launch of our OneAndro app and continued focus on secured lending and tech enablement has allowed us to widen our footprint while enhancing customer and partner experience. We expect to sustain our growth in 2025-26 with a sharper digital focus and deeper penetration in Tier 2 and Tier 3 markets," said Raoul Kapoor , Co-CEO of Andromeda Sales and Distribution. 

Andromeda's rise isn't just a case study in distribution—it's a wake-up call for the entire credit industry. It shows that in India, financial inclusion is still personal and driven by trust. It is a good example of how hybrid models can be successful. 

That's what makes it India's one of the most promising credit galaxies. 

If you’d like to learn more about how partnership lending can be a gamechanger and want a hands-on guide for the same, click here ! 

Reading List:  

1. NBFC's credit growth to moderate to 13-15% in FY25 and FY26 from 17% witnessed in last two fiscals: ICRA  

2. US tariff moves to have limited impact on Indian banks: Report  

3. RBI's new liquidity norms expected to boost bank lending by ₹3 lakh crore  

4. RBI gets double the bids in Rs 40,000 crore open market operation auction  

5. Gold loan NBFCs expect RBI's 25 bps repo rate cut to lift gold loan demand, business sentiment  

Thank you for reading. If you liked this edition, forward it to your friends, peers, and colleagues. You can also connect with me on X here and follow FinBox on LinkedIn to always get all updates. 

Cheers, 

Mayank