SMECorner

lendingsme financing

FOUNDING YEAR: 2014
LOCATION: India
Last Update: 10/07/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

SMEcorner's mission is to fill India's SME lending gap with the use of a proprietary online platform that combines machine learning, data science and artificial intelligence in a safe environment. Like any good business, we want to bring in ease and agility into the business lending ecosystem and are committed to help small businesses grow.

MEDICI Analysis

SMEcorner is an online platform that enables SMEs to access loans easily from Banks and NBFCs. It aims to minimize intermediary risk and extend transparency to the borrowing process, while assisting businesses in fulfilling their financial requirements.

Focus

PRODUCTS & SERVICES

Working capital loans, Loan against property, Unsecured business loans, Loan for medical equipments. Empowers SMEs to access multiple financial institutions with single loan request.

REVENUE MODEL

The company charges interest rates between 18% to 24% from its customers. Loans are funded by partner banks are much lower rates thereby leaving a good spread for the company

MAIN CLIENTS

Small and Medium Entreprises

EXISTING PARTNERSHIPS

Axis bank

Aditya Birla Finance

Bajaj Finserv

Flipkart

RBL Bank

Religare

Reliance Capital

IIFL

ICICI Bank and many more - To process loan applications.

PRIMARY PROBLEM SOLVED

High use of technology, Machine learning and scorecards to underwrite loans to Small businesses. Loans are disbursed fast and with very little paper.

COMMENT

Since SMEcorner has tieups with all leading financial institutions, it is able to provide competitive rates and the process is also transparent allowing users to track the status anytime.

People

FOUNDERS

Samir Bhatia

Sneha Shah

BOARD MEMBERS AND ADVISORS

Bharat Shah

Neela Bhatia

NUMBER OF EMPLOYEES

201-500

INVESTORS:

Accion Venture Lab

Capital First

Dutch government fund

Northern Arc

Quona Capital

Vivriti Capital

KEY EMPLOYEES:

Sanket Shah

Sarita Arora

Samir Bhatia(CEO); Sonal Patni(CTO)

Momentum

FUNDED

YES

TOTAL FUNDING

$39.73 M

DATE OF LAST FUNDING

Mar 2020

TOTAL FUNDING COMMENT

The company is planning to use the fund to scale its loan book by expanding on its offline branches and honing technology platform. (June 2018)

SEED & PRIOR FUNDING

$3.31 M

SEED CLOSED ON

Jun 2018

FUNDING SERIES

SERIES A  · $6.42 M  · Mar 2019

SERIES B  · $30 M  · Mar 2020

DEBT FUNDING

$3.67 M

LISTED

NO

BASICS

FOUNDING YEAR:

2014

LOCATION:

India

Views:

130 VISITORS | 256 VIEWS
LATEST FUNDING ROUND

$39.7 M

TOTAL EMPLOYEES
201-500

About

SMEcorner's mission is to fill India's SME lending gap with the use of a proprietary online platform that combines machine learning, data science and artificial intelligence in a safe environment. Like any good business, we want to bring in ease and agility into the business lending ecosystem and are committed to help small businesses grow.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

SMEcorner is an online platform that enables SMEs to access loans easily from Banks and NBFCs. It aims to minimize intermediary risk and extend transparency to the borrowing process, while assisting businesses in fulfilling their financial requirements.

Focus+
Momentum+
People+
Other+

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

SMECorner

About

SMEcorner's mission is to fill India's SME lending gap with the use of a proprietary online platform that combines machine learning, data science and artificial intelligence in a safe environment. Like any good business, we want to bring in ease and agility into the business lending ecosystem and are committed to help small businesses grow.

Focus

PRODUCTS & SERVICES

Digital Platform using proprietary scorecards, data science and machine learning to give Unsecured Business Loans to Small and Medium Enterprises.

REVENUE MODEL

The company charges interest rates between 18% to 24% from its customers. Loans are funded by partner banks are much lower rates thereby leaving a good spread for the company

TOP PROBLEM SOLVED

High use of technology, Machine learning and scorecards to underwrite loans to Small businesses. Loans are disbursed fast and with very little paper.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

KEY DIFFERENTIATORS

Speed Technology

PRIMARY CUSTOMER TYPE

Small and Medium Business - Physical Retail

PRODUCT ATTRIBUTES

Customer facing

STRATEGIC CLIENTS AND PARTNERSHIP

Clix Capital : Balance sheet partner

DMI Finance : Balance sheet partner

Volition Finance : Balance sheet partner

People

FOUNDERS

Samir Bhatia

Sneha Shah

NUMBER OF EMPLOYEES

51-200

KEY EMPLOYEES:

CEO, FOUNDER: Samir Bhatia

CTO: Sonal Patni

CRO: Amit Garg

CRO: Sanket Shah

Chief Analytics Officer: Sarita Arora

employee: Samir Bhatia(CEO); Sonal Patni(CTO)

FOUNDER: Sneha Shah

BOARD MEMBERS AND ADVISORS:

Bharat Shah, Neela Bhatia

INVESTORS:

Accion Venture Lab

Accion Venture Lab

Accion Venture Lab

Accion Venture Lab

Accion Venture Lab

Accion Venture Lab

Capital First

Capital First

Capital First

Capital First

Capital First

Capital First

Dutch government fund

Northern Arc

Northern Arc

Northern Arc

Northern Arc

Northern Arc

Quona Capital

Quona Capital

Quona Capital

Quona Capital

Quona Capital

Vivriti Capital

Vivriti Capital

Vivriti Capital

Vivriti Capital

Vivriti Capital

Momentum

FUNDED

NO

LISTED

NO

FUNDING SERIES