One of the main problems U.S. immigrants face is getting loans from banking institutions because of the lack of credit scores. However, today, many gamers in the fintech business are engaged in reimagining and enhancing established organizations. One such company is Stilt, which offers loans to immigrants and undeserving individuals without a good credit score or social safety. It’s no surprise that Rohit Mittal, the CEO of Stilt, has received a lot of limelight. So, what do you know about Rohit? Here is a look at 10 things you didn’t know about Rohit Mittal.
1. Rohit Originates from India
The fact that Rohit is currently based in the U.S. might see most people confused about his origin. Rohit Mittal comes from India, where he grew up during his childhood years. Rohit’s parents are Indian and raised him with his other siblings with a solid educational background. Like other children, Rohit attended his lower grade and high school education before proceeding to college.
2. Rohit Has a Bachelor’s Degree from Delhi College of Engineering
After high school, Rohit started his undergraduate education at Delhi College of engineering. Here he studied a degree in Production and Industrial from 2005 to 2009. During this time, Rohit served as an intern in several companies, including; Ruhr-Universität Bochum in 2008, Bharat Electronics in 2009, ThyssenKrupp, and Rodmatic Ltd, where he worked as a supply chain analyst in 2010.
3. He Has a Master’s Degree from Columbia University
Rohit moved from India to the USA as a graduate student at Columbia University in 2010. He moved to the USA as an immigrant and experienced the pain of getting credit without any. It is here where he attained a Masters’s of Science (M.S.) in operations research. Through the master’s degree, he learned skills such as mathematical programming, supply chain management, financial engineering, entrepreneurship, risk management, etc.
4. He Unable to Rent an Apartment In New York
When Rohit moved to the U.S., he could not rent an apartment in New York for lack of credit score. He was even forced to sleep on a Columbia alum’s couch for numerous weeks. Later, another student offered Mittal a room because he had experienced a similar issue in the past. It was also exceedingly difficult to try and get a student loan without a credit score. Years later, Rohit talked with the roommate and future co-founder Priyank about a side project that made moving to the U.S. easier financially. It is this side project that later became Stilt.
5. He Worked as A Volunteer at The Rockefeller Foundation
After his master’s degree, Rohit served as a volunteer at The Rockefeller Foundation. The mission of the Rockefeller Foundation is to promote the well-being of humanity worldwide. The team and staff consist of a wide range of backgrounds and talents from scientific, scholarly, private, and nonprofit fields to help come up with global solutions. Rohit was involved in economic empowerment for events in New York from 2011 to 2012.
6. Rohit Started His Career at Verisk Analytics
Before founding Stilt, Rohit began his career at Verisk Analytics from 20112 to 2013. At Verisk Analytics, he was using big data to optimize credit risk. In the credit risk industry, he consulted for the company on its credit risk portfolio. Other responsibilities included performing statistical analysis and developing risk models, and developing Python scripts for a project.
7. He Was a Founding Member of The Data Science Team at PopSugar
After working at Verisk Analytics, Rohit Mittal went on to be a founding member of the data science team at PopSugar. POPSUGAR mainly deals with Women’s Lifestyle in the U.S. aims to reach young women via its purpose-driven and positive content across various platforms, spanning beauty, fashion, entertainment, parenting, fitness, and more. Here, he helped the company build its analytics framework for the data science efforts.
8. Rohit Keeps an Ideas Book
Rohit Mittal has a book where he writes down his favorite ideas for companies. When going through this book, he found a fascinating idea from the past about increasing the number of students moving to the USA for education through a nonprofit fund. The fund would be contributed by the immigrants who have already settled in the U.S. This idea has evolved into developing a credit risk model for immigrants.
9. Rohit Is the Co-Founder and Current CEO Of Stilt
Rohit was the co-founder and CEO of Stilt in 2015, along with Priyank Singh, the other co-founder. Rohit Mittal has tremendous experience in credit risk analytics and data science. Stilt is a banking institution in the U.S. that is distinct from others by offering loans to undeserved immigrants and other people who might be without excellent credit scores or social security numbers. According to Pew Research, about 44.4 million immigrants live in the U.S. hence the need for enhanced financial services. In his current role as the CEO, Rohit defines the overall business strategy, leads product development, leads capital and debt fundraising efforts, and leads other customer-related company aspects. The company has been backed by Y Combinator and has raised more than $275M in equity and debt funding to date.
10. Rohit Is 34 Years Old
Now that you know a lot about Rohit and his career journey, you probably want to know the age of the Stilt CEO. At what age has he been able to accomplish all these to become the CEO of one of the trending banking institutions. Surprisingly, Rohit Mittal is 34 years old, while his counterpart, Priyank Singh, is 35 years old. Having established Stilt in 2015 means that Rohit became a CEO and co-founder at around 28 years. Impressive, right?
That’s it! You know some of the details you didn’t know about Rohit Mittal. Currently serving as the CEO of Stilt, Mittal’s career journey is very inspiring. Having experienced the hardship as an immigrant in the USA, Rohit has helped many immigrants get finances without a credit history through Stilt. If you have another fact that we have not included or any questions, please comment below.
Written by Allen Lee
Read more posts by Allen Lee