India, June 15 -- Pune-based gig workers-focused fintech platform Bon Credit has decided to shift to a non-profit model. Bon Credit founder and CEO Bhasker Kode told Inc42 that he has bought out institutional investors and board members and is transitioning the company into an NGO or non-profit.

Kode said that the company has scaled down its operations as a result of which its lending operations and team size are just under 10 right now. "But once fully transitioned into an NGO the team will be running at a smaller sustainable scale purely for bringing social impact, hopefully for many years to come," he told Inc42.

Founded in 2016, Bon Credit empowers self-employed and gig economy workers in India such as taxi and rideshare drivers, go...