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 and travel agents.
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.
“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,” said Co-founder and CEO Indifi Technologies, Alok Mittal.
“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,” said Founder Suvidhaa Infoserve, Paresh Rajde.
Indifi is live in six different segments like 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.