India’s fastest growing digital fintech platform Indipaisa has partnered with Signzy, a global digital banking infrastructure provider and a leader in digital onboarding, to offer a Social Network-powered Fintech platform offering integrated digital banking services to India’s under-serviced and under-banked micro SMEs (micro businesses). The partnership aims to target over 59 Million Micro SMEs in India through Indipaisa’s mobile application.
As a part of this partnership, Indipaisa will leverage Signzy’s market leading DIY low-code merchant onboarding solution. Using Signzy’s technology, Indipaisa will offer a seamless and quick onboarding to these micro businesses in order to provide them with tailormade financial and business solutions for their business and their employees. These financial solutions are designed to help micro SME owners secure their businesses, comply with government tax laws, and secure a better future for themselves, their families and their employees at all times.
Aizaz Tahsildar, CEO, Indipaisa, said, “In partnership with Signzy, we are delighted to provide value added services to MSME by introducing simple, fast and easy access to digital marketplace via our mobile app to find best insurer, micro-lender as per their need and requirements to protect their business, employees and family. Micro SMEs contribute to a largest portion of total 59 million MSME and are well known to be the engine of India’s economic growth; and are also key drivers for creating and sustaining millions of jobs. Having successfully spearheading profitable business in MENA region by providing end to end digital financial banking solutions to MSME and to our advantage of that total profitable portfolio, majority of owners and operators were from India.”
Ankit Ratan, cofounder and CEO of Signzy said, “We are excited to have partnered with Indipaisa and support them in their mission to empower the Indian Micro SMEs ecosystem. Our industry leading solution is designed to cut down time and costs for onboarding new customers while simultaneously delivering much superior customer experience. It also meets the strictest information security regulations and data security requirements. Together with Indipaisa, we look forward to supporting and encouraging Micro SMEs to take advantage of Indipaisa’s digital banking financial services marketplace in the most seamless way possible.”
Nebil Ben Aissa, Founder and Chairman of Indipaisa said, “We are very excited to invest in India and offer our financial services to empower Indian small business owners and operators and help them build a better future for their businesses and their families. Our experience in servicing Indian small business owners and operators in the Middle East and other markets gives us confidence that our solutions will deliver value and gain traction in India.”
Highlighting the importance of the need for insurance, Naren Kannan, CIO, Indipaisa, said, “Indipaisa offers instant services focused at Indian Micro SMEs through Indipaisa mobile application. Every Micro SME owner can download the free app and start using it immediately and avail the business benefits. Currently only 5% of India’s MSMEs are covered with either insurance or micro lending. This is a minuscule amount keeping in mind that there are over 59 million Micro SMEs in the country. Our partnership in providing a digital marketplace for all the Micro SMEs to benefit from value-added services. Given the progressive and technology-oriented approach of both partners, this collaboration is an ideal synergy between Indipaisa and Signzy that would make a meaningful difference to millions of Micro SME owners in the country.”