IMPORTANT Announcement: FlexiLoans.com crosses Rs. 500 Crores Business Loans disbursal – 18th September 2019 (Send to Fintech / Finance / Start up Media)
FlexiLoans.com crosses Rs. 500 Crores Business Loans disbursal
- Completed disbursals of over 16000 Loans in over 1000+ cities and towns in the country
- Focused to cater to MSMEs with unique digital-only Model
- Each month over 1,20,000+ MSMEs apply from over 1500 cities/towns for Business loans
Mumbai, Sep 18, 2019: FlexiLoans.com, the fastest growing Fintech lender for MSMEs in India, today announced their 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 an d towns in the country catering primarily to micro, small and medium size businesses.
The company launched in 2016, has seen 200% growth in disbursals, 10 X gro wth in customer aquisition since M ar’18. Company also boasts of 45% repeat lending from existing customer base. In last financial year, FlexiLoa ns.com 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, FlexiLoans.com is today the go- to channel for a MSME that wants to access Quick and Hassle Free Loans for plugging the working capital ga p in business expansion. Each month over 1,20,000+ MSMEs apply from over 1500 towns and cities to the Fint ec h lender via its website, mobile web and mobile app, social media and other partner channels like E-commerce pl ayers, POS players etc. The major clientele includes the e-commerce vendors, small retailers, dealers and sup pliers, manufactures across 15+ Industry clusters and over 100 Sub-sectors like FMCG (Kirana stores), E-comm erce sellers, Fashion and Apparels, Electronics and Services sectors.The company offers a wide range of financ ing 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 tak en our Digital sourcing and Servicing capabilities to the next level that can cater to high volumes @click. Disbur sing Rs. 500 Crores is a benchmark that we cherish and we will keep innovating to cater to the deserving yet uns erved businessmen in a seamless manner”The start-ups that caters to over 1500 cities and towns currently and ha s 100+ Ecosystem partners in the E-commerce, Supply chain and POS businesses gets an access to over 5 Mill ions 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 targ et 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 co mpared to other players in the market.” He also added that “There are over 6 Crore MSMEs in India that are un der-served and times like the ones that the country is facing today in liquidty tightness was the one that mot ivated 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. Flex iLoans’ proprietary technology and data science capabilities are un-paralleled in the Industry and gives them an edge to serve their mission of “Loans @ click to MSMEs across the Country”
FlexiLoans.com is one of the Leading Digital Lending Platforms started with a vision is to provide “Loans at a cl ick” to SMEs while solving their problem of accessing quick, flexible and adequate funds. They use a proprie tary 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 1000+ cities without having a single branch within a span of 3 years of their operations, with a team size of 250+ employees. Having over 100 partnerships with known playe rs such as Flipkart, Amazon, PayTM, PineLabs, MSwipe, etc., it has access to over 2mn businesses. It has been fo unded by 4 ISB/ IIT alumni with combined financial services experience of 45+ years.