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Rang De

Rang De is India’s only peer-to-peer lending platform focused on providing timely and affordable credit to unbanked communities. The company pioneered social investing, enabling individuals to lend to unbanked farmers, artisans, and entrepreneurs and help kickstart, sustain, and grow their livelihoods.

I worked closely with the Co-Founder Ram NK and the cross-functional product team. Among multiple other projects I did as a part of my tenure at Rang De, I worked on a monetization model for the company to scale and earn profits. Along with Meeha Tiwari and Mayank Jain I conducted studies with stakeholders, designed the implementation, and tested it with the users (social investors). This case study highlights my main contribution: plan, ideation, and user experience considerations.

I set in motion the first phase of execution of this model before I left the company to pursue my master's.

Role: Associate Product Manager

Rang De follows a visionary approach to fostering positive change and driving sustainable growth, envisioning a future where financial empowerment goes hand in hand with social responsibility. We believed that a robust monetization plan is crucial to fuel the company's commitment to social impact while ensuring the platform's long-term viability. With a business development perspective firmly rooted in the principle of maintaining an exceptional user experience, we carefully curated income-generating strategies that align with company values. 


This Monetisation Manifesto includes innovative initiatives that enhance the investment experience for the primary user group of the platform - social investors. We made membership plans that grant exclusive privileges, waive transaction fees, and unlock advanced features, further strengthening the bond between the investors and the mission. Additionally, we present tax-saving options that enable investors to make a tangible difference in the lives of those in need while enjoying potential tax benefits. Through our proposed Dormant Account Policy, we promote continuous engagement and impact by reactivating idle accounts and channeling interest towards compliance costs, safeguarding the principal amount.

1. Per transaction fee

Introducing a per transaction fee for social investors who manually select their investees or funds. This fee will be applied to each investment made by users where they choose to invest in specific funds or individuals according to their preferences. The objective of this fee is to generate revenue for the company while maintaining a seamless user experience for the investors.


Transaction Fee Details:
  1. Fee Percentage: The per transaction fee will be set at 2% of the total investment amount made by the social investor.

  2. Capped Limit: The transaction fee will be capped at Rs 49. This means that regardless of the investment amount, the maximum fee a user can be charged for a single transaction is Rs 49.

  3. Payment Flexibility: During the checkout process, users will have the flexibility to use a combination of their available Rang De credit and fresh capital to make their investment. They can also choose to pay the transaction fee either through their Rang De credit or fresh capital.


User Experience Considerations:

The following considerations have to be made to ensure that the introduction of the per-transaction fee does not disrupt user satisfaction:


  1. Transparent Disclosure: Prior to the completion of any investment transaction, users will be provided with clear and transparent information regarding the 2% transaction fee and its maximum cap of Rs 49. This disclosure will help users make informed decisions during the investment process.

  2. Flexible Payment Options: Allowing users to use their available Rang De credit and fresh capital to pay for investments and the transaction fee provides flexibility and convenience. This ensures that users have the freedom to choose their preferred payment method without feeling constrained by the fee.

  3. Educational Communication: Rang De will communicate the reasons behind introducing the per transaction fee to its user base through educational materials, blog posts, and FAQs. This communication will highlight the impact of the fee on the organization's growth and its ability to support more deserving projects and individuals in the future.

  4. Seamless Integration: The fee collection process will be seamlessly integrated into the existing investment flow, minimizing any disruption to the user experience. The platform will be designed to calculate and display the transaction fee clearly to users during the checkout process.


The introduction of the per transaction fee for self-selected investments is a strategic step by Rang De to ensure the sustainable growth and impact of the platform. By charging a modest fee, they can continue to offer users a seamless and enriching investment experience while generating revenue to support the mission of promoting financial inclusion and empowering underprivileged communities. We were confident that this monetization approach would contribute to the long-term success and positive social impact of Rang De.

2. Chargeable Auto Reinvest and Rang De SIP

Introducing a 1% fee for the usage of two popular features - Auto Reinvest and Rang De Systematic Investment Plan (SIP). These features allow users to automate their investments, making it convenient and hassle-free for them to continue supporting projects and individuals they care about. The fee will contribute to the company's revenue while ensuring that users can enjoy the benefits of technology-driven automated investments.

Copy suggestion: Forgo one percent of your interest


Fee Details:
  1. Fee Percentage: The fee for utilizing the Auto Reinvest and Rang De SIP features will be set at 1% of the total investment amount made through these automated investment options. This will be charged when the users get back repayments, not when they are initially investing.

  2. Payment Flexibility: Users will have the flexibility to choose their preferred payment method for this fee. They can opt to pay it either through their available Rang De credit or fresh capital at the time of setting up or using the Auto Reinvest or SIP functionality.


User Experience Considerations:

The introduction of the 1% fee for Auto Reinvest and Rang De SIP has been carefully planned to ensure that users continue to benefit from automation while being aware of the nominal cost involved.


  1. Clarity and Transparency: Users will be presented with a clear and transparent explanation of the 1% fee when they opt to use the Auto Reinvest or Rang De SIP features. This information will be communicated at the time of activating these functionalities, ensuring that users are aware of the fee before they proceed.

  2. Value Proposition: Alongside the fee disclosure, Rang De will emphasize the value proposition of the Auto Reinvest and SIP features. We will highlight the convenience and benefits of automated investments, such as reduced manual effort, improved diversification, and the potential for higher returns over time.

  3. Educational Resources: Rang De will provide educational resources to help users understand the benefits and impact of automated investments. This will include blog posts, video tutorials, and user guides to facilitate a seamless onboarding process and optimize their investment experience.

  4. Seamless Automation: The technology behind Auto Reinvest and Rang De SIP will be continuously enhanced to ensure a smooth and efficient investment process for users. We will invest in optimizing the underlying technology to provide a seamless user experience.


The introduction of a 1% fee for Auto Reinvest and Rang De SIP represents a strategic move by Rang De to enhance its revenue streams while offering users advanced technology-driven investment solutions. By leveraging these features, users can automate their investments, making it easier for them to contribute to social causes and projects. The nominal fee is intended to cover the costs of providing and maintaining these valuable functionalities. Rang De remains committed to delivering exceptional user experiences and facilitating financial inclusion while ensuring the sustainable growth of the platform. With this approach, we are confident in the ability to drive positive change and impact the lives of countless underserved communities.


3. Membership Program

The new annual Membership Program is designed to enhance the investment experience for social investors. We are introducing two membership plans - Gold and Honours - each offering a host of exclusive benefits and privileges. By becoming a member, investors can enjoy a range of features, waived transaction fees, and free access to the popular Auto Reinvest and Rang De Systematic Investment Plan (SIP) functionalities.

Gold Membership

For just Rs 499 per annum, social investors can avail themselves of the Gold Membership, unlocking a world of benefits and exceptional investment opportunities.


Membership Benefits:
  1. Waived Transaction Fees: Gold members will enjoy the luxury of investing without any transaction fees. This means they can direct their entire investment amount to their chosen projects or individuals, maximizing their impact.

  2. Free Auto Reinvest and SIP: As part of the Gold Membership, users can utilize the Auto Reinvest and SIP features without any additional charges. The convenience of automated investments is now readily accessible to all Gold members.

  3. Access to Rang De Chapters: All Rang De members will get access to the chapters, where they can connect with like-minded Social Investors and become active community participants. Rang De will also organize chapter activities.

  4. Earn Rang De points: The gamification strategy was under development - another project that I was working on. Every action on the platform will be rewarded with points. Buying a membership will add significantly to the count.

Honours Membership

For a premium investment experience, the Honours Membership would be available at just Rs 999 per annum. Honours members will enjoy all the benefits of Gold Membership and an array of exclusive features.


Membership Benefits:
  1. All Gold Membership Benefits: Honours members receive all the advantages of the Gold Membership, including waived transaction fees and free access to Auto Reinvest and SIP.

  2. P2P Calls with Investees: Honours members will have the unique privilege of engaging in personal calls with the investees they support. This direct connection enables a deeper understanding of the impact their investments make and fosters a stronger sense of connection to the projects.

  3. Field Trip with Rang De Founders: As part of the Honours Membership, investors will be invited to join an exclusive field trip with Rang De founders. This immersive experience will offer a firsthand look at the on-ground impact of Rang De's initiatives and an opportunity to witness the positive change in action.

  4. Rang De Box Office: The upcoming feature, Rang De Box Office, will be exclusively accessible to Honours members. This exciting addition to the platform will provide exclusive access to impact stories in the Indian context.

  5. Gift 1 Gold Membership: A higher-level referral program.

User Experience Considerations:

With the introduction of the Membership Program, social investors can access additional benefits and features without compromising the user experience.


  1. Membership Clarity: Detailed information about the Gold and Honours Membership plans, along with their respective benefits, will be prominently displayed on the platform. Users will have a clear understanding of what each membership tier entails before making their decision.

  2. Enhanced Communication: Rang De will provide informative materials and a comprehensive FAQ section about the Membership Program. This will help users make informed choices and fully grasp the value they can gain from becoming a member.

  3. Personalized Onboarding: New members will receive a personalized onboarding process, guiding them through the features and benefits of their chosen membership level. This approach aims to ensure a smooth transition and immediate access to all the privileges.


The Rang De Membership Program is designed to elevate the investment experience. With Gold and Honours plans, users can opt for benefits that suit their preferences and investment goals. By offering waived transaction fees and free access to Auto Reinvest and SIP, we aim to make investing easier and more rewarding for the members. The Honours plan, with its exclusive features like P2P calls, field trips with founders, and access to Rang De Box Office, provides an unparalleled opportunity for investors to make a significant impact and be part of transformative change. We are confident that the Membership Program will empower the investors, strengthen the community, and further the mission of promoting financial inclusion and empowering underserved communities.

4. Waiving Interest

Introducing an innovative tax-saving option for socially conscious investors. By choosing to waive off the interest on loans they invest in, users can avail themselves of tax benefits while simultaneously creating a significant social impact. This option allows investors to redirect the interest earned from investees towards Rang De's operational costs, contributing to the sustainability and growth of the platform. This feature should be the last feature implemented and launched in the monetization drive.

How It Works:
  1. Interest Waiver Option: During the investment process, users will have the option to waive off the interest they would typically earn on their loans to investees. Instead, this interest will be directed to support Rang De's operational expenses.

  2. Tax Benefits: By choosing the interest waiver option, investors can claim a tax deduction on the amount of interest foregone. This deduction will reduce their taxable income, resulting in potential tax savings.

  3. Social Impact: The interest redirected to Rang De will contribute directly to supporting the initiatives and mission of empowering underprivileged communities. By choosing this option, investors can magnify their social impact beyond their initial investment.


User Experience Considerations:
  1. Clear Explanation: The interest waiver option will be clearly explained to users during the investment process, providing detailed information on the potential tax benefits and the impact of their decision on Rang De's operations.

  2. Transparent Reporting: Rang De will provide regular updates and reports to investors who choose the interest waiver option. These reports will demonstrate the tangible impact of their contribution, both in terms of social change and the operational costs covered by the redirected interest.

  3. Tax Guidance: To assist users in understanding the tax implications of their decision, Rang De will provide educational resources and links to relevant tax guidelines. Investors will have access to information to make informed decisions aligned with their financial goals and philanthropic interests.


The tax-saving option of waiving interest for social impact is a testament to Rang De's commitment to empowering the investors to make a meaningful difference in the lives of underserved communities. By choosing this option, users can leverage their investments to create social change while benefiting from potential tax savings. The redirected interest will directly support Rang De's operational costs, ensuring the sustainability and growth of the platform. This option will foster a sense of shared responsibility and further strengthen the bond between investors and the impactful work they do with Rang De.


5. Dormant Account Policy

To optimize the social impact of investments and maintain an active community of socially conscious investors, we propose a Dormant Account Policy. This policy is designed to encourage inactive social investors to re-engage with the platform while supporting Rang De's compliance costs. After six months of inactivity (no manual investment, no auto reinvest, no SIP, and no log-in), the auto reinvest feature will be automatically turned on for non-member social investors. By doing so, the principal amount in their available credit section remains secure, while the interest earned will be redirected to cover Rang De's compliance costs. The policy should go live in hand with membership options and both should go live in a parallel manner.


Policy Details:
  1. Inactivity Period: The Dormant Account Policy will apply to social investors who have not engaged with the platform for a continuous period of six months.

  2. Auto Reinvest Activation: Once the inactivity period reaches six months, the auto reinvest feature will be automatically activated for these investors. This measure aims to put their funds back into circulation, supporting new investments and furthering the social impact of the platform.

  3. Foregone Interest: While the auto reinvest feature is activated, the interest earned by these investors will be foregone. Instead, the interest amount will be directed towards Rang De's compliance costs, ensuring the platform's sustainability and adherence to regulatory requirements.

  4. Principal Amount Protection: The principal amount in the available credit section of the investor's account will remain untouched. This precautionary step is taken to safeguard their initial investment while allowing them to participate in the platform's activities once again.

  5. Risk Considerations: It is essential to inform investors that P2P lending carries inherent risks. While the principal amount in their account is protected, there is a possibility of non-repayment from the investees, and the expected returns may not be guaranteed.


The minute the dormant social investors are active on the platform again, the forced auto reinvest will be turned off and they’ll be able to choose how to use their account again.


User Experience Considerations:

The Dormant Account Policy is introduced with the following user-centric considerations:

  1. Communication Strategy: Before activating the auto reinvest feature, Rang De will send notifications and reminders (emails, SMS, and WhatsApp Messages) to the inactive investors, informing them about the upcoming change in their account status. These communications will be designed to encourage re-engagement and provide a clear understanding of the policy implications.

  2. Reactivation Assistance: Rang De will provide proactive support and assistance to investors who wish to reactivate their accounts. This includes helping them navigate the platform and explaining the benefits of being an active social investor.

  3. Educational Resources: Investors will have access to educational resources explaining the rationale behind the Dormant Account Policy, the importance of social impact, and the risks associated with P2P lending. These resources will enable informed decision-making and foster a sense of community responsibility.


The Dormant Account Policy is a strategic approach taken by Rang De to re-engage inactive social investors, revitalize their contributions, and maximize the social impact of investments. By activating the auto reinvest feature and directing the foregone interest towards compliance costs, the platform can continue to operate sustainably and comply with regulatory requirements. Rang De remains committed to transparent communication and user support, aiming to strengthen the social investment community and empower underserved communities with positive change.


Note that I have not included the following two in this manifesto:

  1. Changing loan products for the investees: While this is not a product-centric solution, this can act as a significant revenue generator, if partial interest paid by the investees contributes towards Rang De. If this is introduced, it needs to be reflected on individual investee profile pages.

  2. Charging High Networth Individuals: Details of charging them an extra/ special fee for account handling are yet to be discussed and decided.


The “Secret” Algorithm

To develop an effective monetization plan, we are introducing a carefully crafted algorithm designed to optimize the utilization of our various pricing options. Our primary goal is to provide a seamless and rewarding experience for social investors while generating sustainable revenue for the platform. With three distinct options available, including per-transaction fees, and exclusive membership plans called “Rang De Gold” and "Rang De Honours," we aim to cater to diverse user preferences and investment frequencies.


The algorithm takes into account critical engagement factors to strategically push the membership plans only to those who have experienced the true value of the platform. By analyzing users' levels of active participation, total transaction volume, average investment amounts, and the overall financial impact of their contributions, we can tailor our marketing efforts accordingly. This personalized approach ensures that we promote membership plans to individuals who are more likely to embrace the added benefits and features offered.


Through this data-driven algorithm, we aspire to strike a harmonious balance between user satisfaction and business growth, thereby fostering sustainable social impact for the betterment of communities.

For the first three months (tentatively, till the user has experienced the value of the product), they’ll only be introduced to the compliance fee - post which the secret algorithm will come into the picture and start running.


Part 1

Calculate a user engagement score for each user based on the collected data. This score will help determine the likelihood of a user being interested in the membership plan. Assign a higher score to users who have a higher level of engagement and activity within the platform.

Engagement Score = (w1 * N) + (w2 * T) + (w3 * A) + (w4 * V)

In this equation, we consider four factors:

  • N: Number of investments made by the social investor. This factor represents the level of active participation in the platform.

  • T: Total transaction volume of the social investor. It indicates the extent of financial activity within Rang De.

  • A: Average investment amount of the social investor. This factor reflects the level of commitment and financial contribution.

  • V: Total amount invested by the social investor. This factor considers the overall financial impact of the investor's contributions.

The weights w1, w2, w3, and w4 represent the relative importance assigned to each factor. We can adjust these weights based on our specific priorities and observations.

For instance, if we believe that the total amount invested (V) is a critical indicator of engagement, we can assign a higher weight to w4 compared to w1, w2, and w3. Similarly, adjust the weights based on the significance of each factor in our context.


Example 1:

Let's assume we consider the number of investments (N) to be the most important factor, followed by the total transaction volume (T), average investment amount (A), and the total amount invested (V). We can assign the following weights:

w1 = 0.4, w2 = 0.3, w3 = 0.2, w4 = 0.1


Example 2:

If we believe that the average investment amount (A) has the highest impact on engagement, followed by the total transaction volume (T), the total amount invested (V), and the number of investments (N), we can assign the following weights:

w1 = 0.1, w2 = 0.3, w3 = 0.4, w4 = 0.2


Example 3:

In this example, let's assume we consider all factors to be equally important. Each factor receives an equal weight:

w1 = 0.25, w2 = 0.25, w3 = 0.25, w4 = 0.25


As mentioned before, it's important to normalise the values of each factor before calculating the engagement score to ensure fair comparison and accurate assessment. Remember to periodically review and refine the weights and factors as we gather more insights and refine our understanding of user engagement patterns in relation to the desired outcomes.


Part 2

After calculating the engagement score:

  1. Set a threshold engagement score determining the minimum engagement level required to be eligible for the membership plan. This threshold will be subjective and can be adjusted based on your specific requirements and observations. Identify users whose engagement score exceeds the threshold.

  2. Determine if a user has already purchased the membership plan or paid the upfront annual fee. Exclude these users from the list of eligible users, as they have already committed to a monetization option.

  3. Communicate the benefits and details of the membership plan to the eligible users who haven't yet committed to any monetization option. This communication can be done through personalized messages, targeted marketing campaigns, or notifications within the Rang De platform.

  4. Track the response and conversion rate of eligible users who have been informed about the membership plan. Evaluate the effectiveness of the communication strategy and make adjustments as needed.

  5. Monitor the user's behavior and engagement after being informed about the membership plan. Analyze whether the communication positively impacts their likelihood of purchasing the membership plan.

  6. Iterate and refine the algorithm based on user feedback, behavior, and conversion rates to optimize the push for the membership plan.

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