FlexiLoans.com, India’s leading MSME-focused digital lending platform has been named a winner of the 2021 Inclusive Fintech 50 (IF50) for helping micro-enterprises grow by providing small business loans at the click of a button. 48% of its loans are to customers in Tier-II and Tier-III towns with 53% of the customers taking a business loan for the first time.
The 2021 IF50 awards recognize the top 50 inclusive fintech startups across the globe that are helping low-income customers and micro and small enterprises not just respond to the pandemic, but rebound, rebuild and recover after the past year’s devastation. IF50 is sponsored by Visa, MetLife Foundation, and Jersey Overseas Aid & Comic Relief, with support from Accion and IFC.
FlexiLoans, India’s fastest-growing MSME-focused Fintech NBFC, was selected among a pool of 300 plus applications received across the globe. With this, FlexiLoans joins a marquee group of 50 transformational FinTechs globally.
In its efforts to fuel “Atmanirbhar Bharat “growth, FlexiLoans has emerged amongst India’s top SME-focused digital NBFCs growing at a CAGR of 500% with more than 1200 crores + of disbursements to over 40,000 loans across 1600+ locations through 100% digital origination and zero branches. The firm raised INR 150 crore in an equity and debt funding round led by the Sanjay and Falguni Nayar Family Office in Oct 2020. The firm has raised a total of INR 500 crore in equity and debt funding so far.
In the last five years of its inception, FlexiLoans.com has solved the MSME growth capital problem with its unique end-to-end digital sourcing, underwriting, and servicing technology. The company receives over 100,000 applications per month, largely from Tier III and Tier IV cities in India, and is currently disbursing at a run rate over INR 850 crores. Its business is powered by a large loan origination system making it one of the largest embedded ﬁnance players in India with more than 120 partners like Amazon, PayPal, PineLabs, Flipkart, Mswipe, Xiaomi, etc. using their lending services. Its Co-lending platform ‘Bi-frost’ now has over 7 co-lending banks and NBFCs that seamlessly participate in funding the MSME customers originated and assessed by FlexiLoans.
Manish Lunia, Co-Founder of FLexiLoans.com, said, “We are overwhelmed and delighted to be recognized as an ‘Inclusive Fintech’ amongst so many strong contenders globally. The award recognizes our mission and efforts to deliver accessible credit to MSMEs even in the most challenging of times such as the pandemic. This award will fuel the fire in our team to deliver on our mission of helping India’s MSMEs grow, prosper, and drive our country forward. Our approach puts the customer at the center and creates products around them by understanding their needs, hopes, and aspirations. We’re working hard on developing our products and growing our company to make a positive impact, so we’re very happy to receive this recognition for what we’re doing.”