Indifi Technologies, an enabler for SME funding in India, has partnered with Suvidhaa Infoserve, a service commerce platform, in a bid to assist retailers to get easy and seamless access to their working capital requirements. The first phase of this partnership will greatly benefit Suvidhaa’s 90,000+ channel partner base to manage operations better and enhance efficiency. These channel partners include general merchants, domestic remittance distributors, small kirana shops, mom-and-pop mobile recharge shops and tours & travel agents.
Commenting on the alliance, Alok Mittal, Co-founder and CEO, Indifi Technologies said, “Indifi is dedicated to bring financial inclusion with the aim to solve credit issues faced by small businesses across sectors in the country. By availing easy financing through Indifi platform, retailers enjoy ready access to debt financing.”
Small and Micro retailers face a huge challenge in terms of meeting working capital requirement to scale up their businesses and service more clients. Indifi Technologies will expand formal credit facility to these small enterprises. The loan size range from Rs. 50,000 to Rs. 7,00,000 with the average being Rs.1,50,000. The primary determinant of loan amount eligibility will be the channel partner’s transaction history with Suvidhaa. Indifi will then proceed with necessary credit checks to sanction the eligible loan amount. The loan request is seamlessly processed on the Suvidhaa platform itself.
On the tie-up, Paresh Rajde, Founder, Suvidhaa Infoserve, said: “We are excited about our association with Indifi Technologies as it opens up a new area of SME financing to Suvidhaa’s product offering. This data driven solution has the potential of connecting millions of SMEs, MSMEs and retailers to potential lenders across India for their working capital requirement and expand their business.”
Indifi is live in 6 different segments viz. retail, travel, transportation, hotels, e-commerce and manufacturing. Association with brands such as Ola, Travel Boutique Online, ShopClues in some of these segments have been very successful in addressing the financing needs of their small business partners.
Indifi is a Gurgaon based platform for enabling debt-financing for small businesses. It further aims to substantially improve the experience for borrowers in terms of speed of approval and disbursement, convenience of the loan process, relevance of the loan product to their business needs, and finding the best rates in the market. Driven by the idea of establishing or automating SMB financing in India, Indifi has emerged as an enabler for start-ups and small businesses to seek seamless access to funding.
About Suvidhaa Infoserve:
Suvidhaa Infoserve is a leading payments company that offers financial services such as remittances, interoperable open loop prepaid cards besides a large suite of value added services such as Ticketing (Rail/Air/Bus), Utility Bill Payments, Mobile/DTH/Data Recharges, Insurance Premium Payments, Corporate Cash Collection and mobile-based Merchant Acquiring Services. These Services are offered thru’ Suvidhaa’s over 90,000 small retail touchpoints in over 9500 PIN Code locations across India. Over 300 Service Providers ride on Suvidhaa’s robust S-Commerce® platform to reach their last mile. Suvidhaa has now forayed into micro credit with its unique & first-of-its-kind Nano Credit Program targeted towards its 35mn unique Customers.
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