We run a platform that works with SME'S , MSME's (can't disclose more on what kind, but like any transaction have buyers and sellers), have active 3 lakh users.
The amount transacted is above 150+ crore every month.
We realised that these SME'S and the sellers have a lending cycle with the seller every 7-14 days.
Got some queries for lending (Because these businesses run of cash flow), after in-depth research, we just realised the immense potential we have if we start lending to them (both the buyers & sellers - by lending + invoice discounting).
We already have all the data points since these users have been with us for a very long time.
What does the fintech community think, should we add the fintech-lending to our business?
(P.s.: Initial Projections show we start making 12-15 Crore net profit, after launch at 50% utilisation)
KredX is already doing this + plus invoice discounting is not that easy have to build whole infra around that, let's say you get infra from Razorpay then what about compliances?
Plus many of these sellers underwrite their invoices are of lesser amount then the actual amount
The invoices are tracked to the value of order placed by buyer through the platform to the seller, which is verified through established levels. They won't be able to do that here, several checks already in place that tracks that all orders are correct and actual. Same infra can be used for this. Glad that you pointed it out. Appreciate it. Anything else?
@StartupStealth We offer 7-14 day short term cycle loans to smes. Happy to partner and launch this product for your users. Let’s connect?
Can you DM please and share the company name and details
Everyone wants to get into lending business nowdays, i understand why. But how are you planning on to collect the money from defaulters.
@UnpaidIntern Mind boosting the post a bit. Appreciate it
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Zerodha guys, please don’t talk 🙅♂️
