FlexiLoans
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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.
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
Traction
NUMBER OF TRANSACTIONS:
1 K
TRANSACTIONS VALUE:
2.5 M
ACTIVE USERS:
2000
People
FOUNDERS
Ritesh Jain
Deepak Jain
BOARD MEMBERS AND ADVISORS
Bhagwan Choudhary
Abhishek Kothari
NUMBER OF EMPLOYEES
51-200
INVESTORS:
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)
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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