Fintech platform, FlexiLoans.com has partnered with Vivriti Capital to provide working capital financing of over Rs 300 crores to Micro, Small & Medium Enterprises (MSMEs) across India.
The MSMEs will be able to apply for these loans online and receive in-principal approval within 24- 48 hours digitally without any manual intervention.
“FlexiLoans has been scaling its Co-lending platform since the IL&FS crisis a couple of years ago to service the wide range of ecosystem and digital sourcing partners and boost AUM growth,” Deepak Jain, Co-Founder, FlexiLoans.com said in a statement.
”Vivriti has been our long-standing lending partner and its digital-first approach, deep lending expertise syncs perfectly well with our co-lending ideology of providing quick, hassle-free and adequate financing to the deserving small merchants across India,” he added.
This partnership is aimed at reaching out to 10,000 plus MSMEs in the next 12-18 months and leverages the strong origination, credit, and technology platform of FlexiLoans.com and the digital workflows, deep lending expertise, and capital strength of Vivriti Capital.
“With its strong business lending franchisee and comprehensive risk identification vintage, FlexiLoans.com is a great partnership for us in expanding its lending presence across the country. The partnership is built on the combination of a deep technology integration via APIs and a substantial capital base and we expect to unlock immense market potential and scale with it in the near future,” said Gaurav Kumar, Co-Founder, Vivriti Capital, and CEO CredAvenue.
”CredAvenue’s co-lending platform has been specifically designed to enable scale-up of such partnerships for Banks, NBFCs and Fintech players vis automated discovery, underwriting, operations and reporting modules on one single portal,” he added.