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| More crosses Rs. 500 Crores Business Loans disbursal

Posted On: 2019-09-18 17:16:32, the fastest growing Fintech lender for MSMEs in India, today announced they're significant milestone of disbursing over Rs 500 Crores of unsecured business loans across the country with its unique digital-only model. The company has disbursed cumulatively over 16000 loans in over 1000+ cities and towns in the country catering primarily to micro, small and medium-sized businesses.

The company launched in 2016, has seen 200% growth in disbursals, 10 X growths in customer acquisition since Mar'18. The company also boasts of 45% repeat lending from the existing customer base. In last financial year, launched services in over 500+ new cities like Baroda, Jaipur, Jodhpur, Bhopal across 10+ new states in the last 18 months and now caters Pan India in over 1500+ Tier 2, 3 and 4 cities and towns.

Steadily moving towards its goal of tapping the untouched segments of our country, is today the go- to channel for a MSME that wants to access Quick and Hassle-Free Loans for plugging the working capital gap in business expansion. Each month over 1,20,000+ MSMEs apply from over 1500 towns and cities to the Fintech lender via its website, mobile web and mobile app, social media and other partner channels like E-commerce players, POS players, etc. The major clientele includes the e-commerce vendors, small retailers, dealers, and suppliers, manufacturers across 15+ Industry clusters and over 100 Sub-sectors like FMCG (Kirana stores), E-commerce sellers, Fashion and Apparels, Electronics and Services sectors.

The company offers a wide range of financing solutions to the MSME businesses under working capital loans, vendor financing and line of credit.

Speaking on the achievement, Mr. Ritesh Jain - Co-Founder, FlexiLoans said "In the last 18 months, we have taken our Digital sourcing and servicing capabilities to the next level that can cater to high volumes @click. Disbursing Rs. 500 Crores is a benchmark that we cherish and we will keep innovating to cater to the deserving yet unserved businessmen in a seamless manner."

The start-ups that caters to over 1500 cities and towns currently and has 100+ Ecosystem partners in the E-commerce, Supply chain, and POS businesses get access to over 5 Million SMEs in the country. It has plans to disburse at a run rate of Rs. 100 crores/ month in the next 10-12 months.

Deepak Jain, Co-Founder, FlexiLoans said "More than 90% of the loans are under Rs. 10 Lacs and we are happy that we are creating an impact to service these growing businessmen. We are elated to have disbursed loans to over 16,000 MSMEs and intend to disburse over 1 Lakh loans in the next 2-3 quarters as we understand our target segment and are the first choice of MSMEs across the country. "Over 50 % of the loans have been disbursed to first-time borrowers, 25% women borrowers and that we already created a niche market for ourselves when compared to other players in the market." He also added that "There are over 6 Crore MSMEs in India that are under-served and times like the ones that the country is facing today in liquidity tightness was the one that motivated us to start FlexiLoans."

FlexiLoans, a fintech leader in the unsecured loan segment to the MSME segments raised the largest ever seed fund round of Rs. 100 Crores in Oct' 16 from veteran bankers like Sanjay Nayar, Anil Jaggia, Vikram Sud, etc. FlexiLoans' proprietary technology and data science capabilities are unparalleled in the Industry and give them an edge to serve their mission of "Loans @ click to MSMEs across the Country."

Source: Equity Bulls

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