Tag: Indifi Technologies

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Business World

Tech-enabled lending platforms to watch out for in 2021

Dec 16, 2020 by Neel Achary 0 Comments #Capital Float, #FlexiLoans, #Indifi Technologies

As 2020 drew to a close, it was an opportune time to pause and reflect. Today, fintech is so ubiquitous and that many solutions are an intrinsic part of our life. Even traditional laggards like the functioning of lending and borrowing have been swept by technology innovation. While new ways of lending and borrowing have become popular, even traditional lenders are leaning on technology to help decipher the plethora of data available today and help in making decisions.

Hereby enclosing 5 tech-enabled lending platforms to watch out for in 2021

1. Indifi Technologies: Indifi Technologies is a Gurgaon-based lending platform, enabling debt-financing for small businesses. It aims to substantially improve the experience for borrowers regarding credit access as well as speed and convenience of the loan process. Driven by the idea of expanding access to MSME financing in India, Indifi has emerged as an enabler for start-ups and small businesses seeking seamless access to funding. Indifi expands the envelope of formal lending by designing the right-fit credit products for MSMEs, improving the standard of risk assessment, and leveraging the supply chain linkages of MSMEs.

It is one of India’s leading online lending platforms, which has deployed a proprietary machine learning model to drive greater differentiation in its lending operations and optimising functions such as underwriting, risk assessment, and borrower profiling. The machine learning model also strengthens the underwriting process, as the final credit decision is based on more informed insights. Doing so also reduces the dissonance between the final inquiry status for customers to improve the customer experience on the Indifi platform.

2. Capital Float: Capital Float is a fintech lender to digital India. From financing the dynamic growth of SMEs to offering innovative point-of-sale financing for consumers, Capital Float offers flexible, short-term loans that can be used to purchase inventory, service new orders, or optimise cash cycles. Borrowers can apply online in minutes, select desired repayment terms, and receive funds in their bank accounts in three days with minimum hassle.

3. LendingKart: LENDINGKART Technologies is a fin-tech startup in the working capital space. The company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s creditworthiness and provides other related services. The company aims to transform small business lending by making it convenient for SMEs to access credit easily. The company uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses across different sectors including e-commerce rapidly and accurately.

4. Flexiloans: FlexiLoans is an online lending platform started with an endeavor to solve the problem that SMEs face in accessing Quick, Flexible & Adequate funds for growing their Businesses. Over 80% of Loan proposals from SMEs currently are rejected by institutional channels on account of inadequate financial history or collaterals. The platform wish to make the ‘social & alternative scoring of SMEs & Individuals a big opportunity for the economy that will far out place the limited insights that the financial bureau provides. Their technology-powered online marketplace is the best model to meet the financial requirements of SME’s in the e-commerce sector, who do not have a credit history & hence cannot avail of loans from traditional banking channels.

Alok Mittal, CEO & Co-founder, Indifi
Business World

Indifi Technologies and PayU address weekend working capital woes faced by merchants with its one-of-a-kind product “Early Credit”

Nov 26, 2020 by Gouri Achary 0 Comments #Alok Mittal, #COVID-19, #Indifi Technologies, #Noopur Chaturvedi, #PayU India, #SMB Businesses

Festivals are the peak time when businesses experience a tremendous spike in sales. However, not every player has access to sufficient funds essential for addressing numerous challenges associated with the efficient management of working capital. This is where the latest innovation developed by Indifi and promoted through their partnership with PayU, India’s leading online payments solutions provider, comes into the picture.

Businesses witness high growth in sales, especially over the weekends. But due to the fact that payment settlements don’t occur during this period, most merchants remain out of cash for 3-4 days (mainly Friday-Monday), making it difficult for them to make payments to concerned people – suppliers, manufacturers, or staff – and meet other fixed expenses, too. But not anymore!

The early credit product is a short-term credit solution designed to address this particular need. It is a short-term fund that small merchants can avail and is credited to their account every Friday based on the anticipation of the previous weekend sales. PayU’s 4.5 lakh merchants can avail credit amount starting from Rs. 25k up till Rs 50Lacs. Once credited, these merchants can ensure that all their weekend operations are managed without any hassle. PayU will process and facilitate transactions for this 100% contactless and digital solution.

Indifi is the first player who has come out with such a breakthrough solution when businesses have merely started seeing signs of revival but haven’t gotten back to normalcy like pre-COVID times. According to a recent survey by Indifi in the last few months, 34% of retailers and 38% of e-commerce players found accessibility to credit a challenge in August compared to 58% of retailers and 30% of e-commerce players in June. Although businesses have recovered a bit, it is a clear indication that it will take more time to revive completely compared to pre-COVID days.

Apart from managing operations during the weekend, the latest early credit product can also be used during bank holidays when businesses don’t get paid, causing further delay in their operations. Not only is it providing a fillip to them during these pressing times, but it is also helping them maximize sales by improving their cash flows. The innovative product has gained significant traction since its recent launch, with 20% of merchants already leveraging it for running their businesses seamlessly.

Alok Mittal, CEO, and Co-founder, Indifi Technologies, said, “The core objective behind this product is to accelerate the revival process of small and medium businesses while also boosting their sales during weekends, without worrying about payment delays, even during holidays. The disruptive solution will further act as a robust support system for merchants to ensure smooth sailing to their sluggish operations without any shortage of credit. The new development is already working as a game-changer for businesses and we are sure that it will help them drive more sales in the coming months.”

Noopur Chaturvedi, Country Head – SMB Businesses, PayU India, said, “Working capital and credit has traditionally been a constraint for small and medium businesses as they are often unable to access formal channels for loans. The pandemic has only exacerbated the issue. Working with Indifi, we will offer our merchants seamless digital credit solutions to tackle a major issue in their day to day operations and to help stimulate growth.”

COVID-19 has significantly affected retail and e-commerce businesses, mainly in the form of extensive lockdowns, ceasing operations of shops and companies across India. This has also resulted in the growing reluctance of formal lenders against weak and slowly-reviving players. However, with Indifi’s unique early credit solution, every business – be it small, medium, or large – can ensure operational continuity and continue to serve customers seamlessly, even during a crisis like this.

loan
Business World

Fintech platforms transforming SME Lending in ecommerce space

Oct 27, 2020 by Gouri Achary 0 Comments #Capital Float, #Fintech, #FlexiLoans, #Indifi Technologies, #Lendingkart

Access to traditional funding is still a challenge for many SMEs. In 2018, loan approvals from big banks were the highest they’ve been in 7 years. But, at 25.9%, that’s not especially high. It means big banks still decline by 74.1% of applications. As it happens, this massive gap is big banks’ loss and fintech’s gain. By combining financial know-how with technology, fintech is reshaping SME lending, approving loans to more businesses more quickly, and giving more SMEs access to the funds they need to expand.

At a time when retailers are facing a liquidity crunch and struggling to operate due to frequent lockdowns, here comes the Fintechs platforms that are transforming SME lending in the E-commerce space and helping them in maintaining working capital.

Indifi Technologies: Indifi Technologies is a Gurgaon-based NBFC licensed for a debt-financing platform for small businesses. With credit underwriting, technology and partners being the strong pillars, they have launched new products- early and weekend settlement to ensure timely credit to the merchants in the e-commerce sector especially in the festive season. To improve the cashflows of merchants during the crisis.

It aims to substantially improve the experience for borrowers regarding credit access as well as speed and convenience of the loan process. Driven by the idea of expanding access to MSME financing in India, Indifi has emerged as an enabler for start-ups and small businesses seeking seamless access to funding. Indifi expands the envelope of formal lending by designing the right-fit credit products for MSMEs, improving the standard of risk assessment, and leveraging the supply chain linkages of MSMEs.

Lendingkart: LENDINGKART Technologies is a fin-tech startup in the working capital space. The company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s creditworthiness and provides other related services. The company aims to transform small business lending by making it convenient for SMEs to access credit easily. The company uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses across different sectors including e-commerce rapidly and accurately.

Flexiloans: FlexiLoans is an online lending platform started with an endeavour to solve the problem that SMEs face in accessing Quick, Flexible & Adequate funds for growing their Businesses. Over 80% of Loan proposals from SMEs currently are rejected by institutional channels on account of inadequate financial history or collaterals. The platform wishes to make the ‘social & alternative scoring of SMEs & Individuals a big opportunity for the economy that will far out place the limited insights that the financial bureau provides. Their technology-powered online marketplace is the best model to meet the financial requirements of SME’s in the e-commerce sector, who do not have credit history & hence cannot avail loans from traditional banking channels.

Capital Float: Capital Float is the leading Fintech lender to digital India. From financing the dynamic growth of the SMEs to offering innovative point-of-sale financing for consumers, we are leading the charge in addressing the country’s enormous credit problem. They offer flexible, short-term loans that can be used to purchase inventory, service new orders or optimize cash cycles. Borrowers can apply online in minutes, select desired repayment terms, and receive funds in their bank accounts in 3 days with minimal hassle.