FlexiLoans

lendingsme financing

FOUNDING YEAR: 2016
LOCATION: India
Last Update: 08/09/2020

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About

FlexiLoans is an online lending platform started with an endeavour to solve the problem that SMEs face in accessing Quick, Flexible and Adequate funds for growing their Businesses. Over 80% of Loan proposals from SMEs currently are rejected by institutional channels on account of inadequate financial history or collaterals. With the fast and ubiquitous digital adoption in India and increased avenues to leverage data analytics, we are standing on the verge of Banking transformation in this country which will help us efficiently cater to the large untapped and unserved demand. We wish to make the social and alternative scoring of SMEs and Individuals a big opportunity for the economy that will far out place the limited insights that financial bureau provide. We believe our technology-powered online marketplace is the best model to meet the financial requirements of SMEs who do not have credit history and hence cannot avail loans from traditional banking channels.

MEDICI Analysis

Focus

PRODUCTS & SERVICES

Lending platform for SME.

REVENUE MODEL

Interest payment on loan amounts

PRIMARY PROBLEM SOLVED

Over 80% of Loan proposals from SMEs currently are rejected by institutional channels on account of inadequate financial history or collaterals. With the fast and ubiquitous digital adoption in India and increased avenues to leverage data analytics, we are standing on the verge of Banking transformation in this country which will help us efficiently cater to the large untapped and underserved demand. The problem we solve is: - Accessing customers digitally through a trusted partner network - Assessing borrowers using state of the art learning techniques - Bringing ultra high efficiency by effective use of technology

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

NUMBER OF TRANSACTIONS:

1 K

TRANSACTIONS VALUE:

2.5 M

ACTIVE USERS:

2000

People

FOUNDERS

ABHISHEK KOTHARI

Ritesh Jain

Manish Lunia

Deepak Jain

BOARD MEMBERS AND ADVISORS

Bhagwan Choudhary

Abhishek Kothari

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Anil Jaggia

Financial Institutions

Narayan Seshadri

Sanjay Nayar

Vikram Sud

Momentum

FUNDED

NO

TOTAL FUNDING

$30 M

DATE OF LAST FUNDING

Dec 2017

TOTAL FUNDING COMMENT

An undisclosed round of $15 M raised in Oct 2016.

SEED & PRIOR FUNDING

$15 M

SEED CLOSED ON

Sep 2016

SEED PRIOR FUNDING COMMENT

Investor funding in their personal capacity, the funding will be used for FlexiLoans' expansion and for further investment in its technology and marketing platform

DEBT FUNDING

$7 M

LISTED

NO

COMMENT

Debt funding: $7 M(Dec 2017)

Innovation Programs

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FlexiLoans Technologies Pvt Ltd

About

FlexiLoans is a digital lending platform started with an endeavour to solve the problem that SMEs face in accessing Quick, Flexible and Adequate funds for growing their Businesses.

Focus

PRODUCTS & SERVICES

Term Loans Invoice Discounting Merchant Cash Advance (POS)

REVENUE MODEL

Interest payment on loan amounts

TOP PROBLEM SOLVED

Over 80% of Loan proposals from SMEs currently are rejected by institutional channels on account of inadequate financial history or collaterals. With the fast and ubiquitous digital adoption in India and increased avenues to leverage data analytics, we are standing on the verge of Banking transformation in this country which will help us efficiently cater to the large untapped and underserved demand. The problem we solve is: - Accessing customers digitally through a trusted partner network - Assessing borrowers using state of the art learning techniques - Bringing ultra high efficiency by effective use of technology

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

KEY DIFFERENTIATORS

Hydrid lending - Balance sheet through own NBFC + platform lending Experienced team - with domain expertise in finance, AI and machine learning Execution capabilities - with partnerships with key platforms to scale business, team in place

PRIMARY CUSTOMER TYPE

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

Small And Medium Business - Other

STRATEGIC CLIENTS AND PARTNERSHIP

Amazon : Infrastructure partner

Rockmetric : Analytics partner

FintechLabs : Partner

Traction

NUMBER OF TRANSACTIONS:

1 K

TRANSACTIONS VALUE:

2.5 M

ACTIVE USERS/ACCOUNTS:

2000 Million

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

Partnership and direct to borrower

CHANNEL STATUS

MULTIPLE CHANNELS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

1000

People

NUMBER OF EMPLOYEES

11-50

TEAM COMMENT:

FlexiLoans is the passion of a professional team of CAs, ISB,IIT Alumni with strong Finance,Technology domain experience. FlexiLoans is also supported by an excellent advisory team of senior Risk,Credit Professionals from leading Banks,NBFCs, Finance Professors from M.I.T, UCLA,ISB who share their strong research based insights in Social,Mobile Analytics,Credit Scoring for SME Financing.

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed
Sep 2016
USD15 M
Comment on Seed
Investor funding in their personal capacity, the funding will be used for FlexiLoans' expansion and for further investment in its technology and marketing platform Vikram Sud