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 has been taking necessary decisions and is addressing these solvency issues, which will help the MSMEs to stay afloat. Apart from this, there are companies that are also lending a helping hand to support the MSMEs and bridging the market gaps.
5 Companies empowering the MSMEs
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 the 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.
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
Tradeindia is India’s largest online B2B marketplace, connecting buyers and suppliers. Their mission is to help SMEs and MSMEs to 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.
Signzy offers a digital on-boarding solution for banks, NBFCs and other financial institutions. Most banking services are going digital but one key process that is still offline and hampers consumer experience is regulatory compliance. There is a pressure to dilute digital KYC however digital has higher risk. We at Signzy believe that through a combination of Artificial Intelligence and blockchain we can ensure that digital compliance is convenient but yet secure.
LENDINGKART Technologies Private Limited 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 creditworthiness 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.