5 companies that have helped MSMEs/SMEs to thrive in the year 2020
India’s Micro, Small, and Medium Enterprises (MSMEs) is the second largest in the world and are considered as the backbone of the Indian economy. The pandemic hit the economy and caused liquidity crunch in the market. MSME sector faced the most challenging time due to lack of funds and labour as a result of which a lot of MSMEs had to pause or discontinue their business. The government had taken necessary decisions and addressed these solvency issues by announcing stimulus package and loan moratorium, which has helped the MSMEs to stay afloat in the otherwise difficult times. Apart from this, there are companies that are also lending a helping hand to support the MSMEs and bridging the market gaps.
Crediwatch is a ‘Data Insights-as-a-service’ company that provides lenders, businesses with actionable credit intelligence on private entities they need to improve trust and increase their lending and trading activity. Crediwatch does this with no human intervention by deploying the latest practical AI and technology tools that provide the most reliable comprehensive real-time inputs.A bank only looks up 200 of data points while considering decision for a loan. On the other hand, Crediwatch picks up data from 25,000 different points which is the highest in the industry from already existing information in the regulatory framework. The intelligence can further be deployed for risk management and analysis, due diligence and in future can be used for providing ‘TrustScore’ for MSMEs who are new to credit.
SmartCoin Financials is India’s first fully-automated next-gen Fintech company aiming to address the credit requirements of self-employed micro-entrepreneurs, micro-merchants and middle/lower-income salaried individuals by leveraging advanced data science and Machine Language algorithms. The platform intends to serve the hitherto under-served customers through a comprehensive digital interface across India. SmartCoin aspires to bridge the gap of financial inclusion of ‘Bharat’ by optimizing its state-of-the-art tech-platform and enable credit access for emerging India by arranging “digital collateral” on the basis of user-generated phone data that can effectively reflect user behavior. Its proprietary digital platform adeptly harnesses this alternate source of data to provide instant credit possibilities to the underserved segments of the nation. This newly-found access to formal credit will benefit over 300 million people from the lower end of the socio-economic spectrum by providing them with a slew of empowering prospects that can enhance their lives via financial inclusion.
LENDINGKART is a fin-tech startup in the working capital space. The Company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s credit worthiness and provides other related services.LENDINGKART Finance Limited (formerly Aadri Infin Limited), is a non-deposit taking NBFC, providing SME lending in India. The Company aims to transform small business lending by making it convenient for SMEs to access credit easily. The Company uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately.
Tradeindia is India’s largest online B2B marketplace, connecting buyers and suppliers. Their mission is to help SMEs go Digital. Now more than ever, company is committed to provide SMEs with the resources they need to take their businesses online. As the shift from offline to online accelerates, during these times companies are being asked to do more with less. Tradeindia client Relations team helps SMEs with tools to digitize their business operations and make your business future-ready.
Udaan is a Business-to-Business (B2B) ecommerce platform, designed to solve core trade problems for small, medium and large businesses across India. It is the largest such national distribution platform of its kind enabling retailers and businesses to source merchandise from manufacturers, brands, white labels, importers etc. on a single platform. udaan brings to users the power of technology to grow their business.The easy-to-use app gives them the power to BUY & SELL on their terms with secure payments and hassle-free logistics,GROW their network through access to new regions and customers for brands,manufacturers and marketing & sales support for retailers and businesses,DISCOVER customers, suppliers and products across multiple categories,CONNECT directly with sellers and interested buyers to discuss trade.