“RBI as a central bank should be targeting inflation through monetary policy. As there is an increase in inflation expectation, we think it is the right decision to not be changing key rates in monetary policy. RBI needs to address other structural issues in banking sector to help the SME sector as SMEs are important as a growth and employment-generating engine for the economy. Overall NBFCs lending to SMEs is not growing on expected lines. Credit Flow to NBFCs has reduced and cost has increased, which has made things difficult for SMEs” – RBI Monetary Policy – Quote from Mr. Ritesh Jain – Co-Founder at FlexiLoans.com.
Brief about FlexiLoans.com
FlexiLoans.com is one of the Leading Digital Lending Platforms started with a vision is to provide “Loans at a click” to SMEs while solving their problem of accessing quick, flexible and adequate funds. They use proprietary technology and risk models that focus on surrogate methods for scoring customers. It has disbursed loans worth over Rs.500+ Crores to about 10,000 MSMEs across 1,000+ cities without having a single branch within a span of 3 years of their operations, with a team size of 250+ employees. FlexiLoans.com has completed disbursals of over 16,000 Loans in over 1,000+ cities and towns in the country. FlexiLoans.com receives over 1, 20,000+ MSMEs applications each month from over 1,500 cities/towns for Business loans. The Average Ticket Size at which the loans are given – 3 to 5 Lakhs.
Having over 100 partnerships with known players such as Flipkart, Amazon, PayTM, PineLabs, MSwipe, etc., it has access to over 2mn businesses. It has been founded by 4 ISB/IIT alumni with combined financial services experience of 45+ years.
Its investors are banking veterans like Sanjay Nayar (Ex- CEO, Citibank, and Currently CEO- KKR India), Vikram Sud (Ex- COO, Kotak Mahindra Bank), and Anil Jaggia (Ex- CIO, HDFC Bank) among others. It raised the largest ever seed round by an Indian Start-up of Rs. 100 Crs in Oct’ 16 and today has debt relationships with about 10 Banks/ Financial institutions and have drawn multiple borrowing line.
Few key details about FlexiLoans.com
1. What is the Credit growth (Total amount of combined funds that FlexiLoans.com have provided to individuals as business loans) in the last three years? The company launched in 2016, has seen 200% growth in disbursals, 10 X growth in customer acquisition since Mar’18
2. CAGR till 2019 (Growth rate in percentage or value): 73%
3. Which sectors do they cater to? : 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
4. Geographical presence? : 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 town
5. How many clients do they have? : Disbursed loans to over 16,000 MSMEs
Awards FlexiLoans.com has received in the year 2019
1. Certified as a ‘Great Place to Work’ for 2018-19
2. Featured among ‘Emerging 50 Global Start-ups’ in Fintech100 2019 list by KPMG & H2 VenturesCertified as a ‘Great Place to Work’ for 2018-19
3. DLAI 2019 ‘Diversity at Workplace’ Award
4. SuperStartups Asia 2019 – Gold Category Winner
5. Governance Now BFSI Award 2019 – Fastest-Growing Fintech
6. Governance Now BFSI Award 2019 – Digital Lending – Corporate
7. India NBFC Excellence Awards 2019 – Fastest-Growing NBFC of the Year
8. India NBFC Excellence Awards 2019 – Digital Lending NBFC of the Year