Fintech
Latest Fintech news, photos, press releases, etc available at Sourcing Hardware, the leading news channel for the Indian building products and home improvement (BPHI) industry.
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Budget 2020: These Measures Will Boost Infra, Startups, says Prest Loans CEO Ashok Mittal
As the Union Budget 2020-21 round the corner, Ashok Mittal, CEO of New Delhi-based Fintech Prest Loans shares his Budget wishlist with SH. Here is Mittal’s first-person account: By Mrinmoy Bhattacharjee Reintroduce Infrastructure Bonds The government had provided a deduction of up to Rs 20,000 in respect of subscription to notified long-term infrastructure bonds in the
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Fintech to be Shot in the Arm for Retailers
Alternative financing platforms, fintech, are emerging as enablers for kitchen retailers who are eyeing big-ticket sales Siddharth Mahanot With better spending capacity, a shift towards nuclear families, and the same being facilitated by various affordable housing projects, the need for big-ticket purchases is on the rise in the Indian retail market. This trend, which is
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Budget 2019: Govt Has Taken Steps to Bring Back Confidence in NBFCs, Prest Loans CEO Mittal Says
“We expect that all the steps and Budget 2019 announcements shall start showing results in the next couple of quarters and we shall see a rebound in the financial sector led by NBFCs, especially focused on MSME funding.” New Delhi-based Fintech Non-Banking Financial Company (NBFC) Prest Loans has termed the maiden Budget of Modi 2.0
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Budget 2019: Proposed MSME Payments Platform is a Step in the Right Direction, Loans4SME CEO Simmi Sareen Says
Sareen also says the Budget 2019 recognises the role NBFCs played in providing credit to MSMEs Mumbai-based fintech (Financial Technology) firm Loan4SME has hailed the Budget 2019, which its Co-founder & CEO Simmi Sareen, says acknowledges the significance of the MSMEs in the domestic economy as well as the challenges these players face in accessing
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Alternate Lenders are Cosying Up to Small Business
MSME-lending fintechs Loans4SME, Prest Loans, Rubique, and Vayana Network share their status updates with Sourcing Hardware, on how they will bridge the financing gap for businesses in 2019 By Mrinmoy Bhattacharjee Loans4SME Mumbai-based Loans4SME offers “greater” choice of cash flow-based loans relevant for MSMEs and high growth businesses. It provides six products viz unsecured business
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An Age-old Practice, Bill Discounting is the Best Way to Finance Working Capital: KredX CEO Manish Kumar
Delayed payments and the resultant shortfall in working capital is something that probably every SME has to grapple with in India. According to Manish Kumar, CEO and founder of bill discounting marketplace KredX, nearly 97% of SMEs do not receive payments for their invoices within the agreed time. In an exclusive interaction with Sourcing Hardware
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GST: Registration & Return Filing are Signs of a Good Borrower
GST compliance by MSMEs has resulted in faster loan approval and disbursement, says Ashok Mittal, CEO, Prest Loans What has been the impact of GST on the Indian economy, and fintechs operating in the MSME lending space? GST is the biggest tax reform in India on the concept of one tax instead of multiple taxes
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Competitive Edge of Fintech is Intact
GST was expected to be challenging in the short-term, says Sanjay Phadke, EVP-platform & FI business head – Vayana Network GST has been a mega step in formalising the Indian economy. The transformation from a cash-based disconnected one to a digital, data-rich ecosystem has accelerated with the unveiling of GST. Overall, the financial services sector, including the
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Loans4SME: Growth Ally for Small, Medium Businesses
The Mumbai-based fintech firm is helping MSMEs with collateral-free and cash flow-based loans for their varied financing needs. By Mrinmoy Bhattacharjee Loans4SME is catering to the cash-strapped fast-growing small and medium enterprises (SMEs) and early-stage startups. The fintech marketplace connects businesses with lenders to offer collateral-free and cash flow-based loans. The company’s core competency lies
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Fintech NBFC Prest Loans Comes to the Rescue of Underbanked Traders
The New Delhi-based Fintech NBFC converts non-financial data of small businesses into credit score to be able to offer them loans By Mrinmoy Bhattacharjee Balvir Singh, a small but long time and reputed building materials trader from Noida, could not avail a loan from the bank as the financial institution does not lend monies against
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Seizing the Space
As office space races towards unprecedented growth across all major cities of the country, suppliers of materials and solutions are making this market segment the focus of their growth strategies By Mrinmoy Bhattacharjee There is growing acceptance of the fact that workspaces are the primary incubators of ideas and nerve centres of business execution. Managements
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Budget 2018: Promotes EODB for MSMEs
R. Narayan, CEO, Power2SME The government’s intent of promoting ‘ease of doing business’ among MSME players was evident in the announcements made by FM Arun Jaitley for MSMEs. With major focus on improving lending in the MSME sector, the government has announced a number of measures to ease the lending process and has also addressed to
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‘We Plan to Disburse Over 20,000 Loans to SMBs, Launched Invoice Discounting Platform’
Bengaluru-based fintech startup Billionloans Financial Services Pvt Ltd specialises in offering affordable financing options to small and medium businesses (SMBs) in working capital-intensive sectors such as FMCG, retail, kitchen utensil manufacturing, and apparel. It focuses on tier-I and II cities of Tamil Nadu, Karnataka, Andhra Pradesh and Telangana, besides the industrial hubs of Bengaluru and
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Fintechs: Bridging the Financing Gap
Cash-strapped small and medium businesses can bank upon swift and stress-free services of Fintech firms By Mrinmoy Bhattacharjee Fintech, a portmanteau of Financial Technology, has emerged as the best lending buddy for small and medium businesses (SMBs). This new breed of lenders has come to be seen as agile, innovative and precise in dealing with
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‘We Bridge the Access Gap for MSMEs’
Through an online platform that connects small enterprise with organised lenders, Gurugram-based fintech (financial technology) startup Indifi Technologies Pvt Ltd is easing the pain of securing credit from traditional banking and non-banking institutions. “Small businesses have entrepreneurial zeal to succeed but often lack access to financing. They are largely unorganised, which makes it difficult for