Fintech companies target MSMEs amid push for paperless transactions

Fintech companies target MSMEs amid push for paperless transactions

  • 35-year-old unknown creates the world’s most valuable startup Quest for easy capital to scale ops makes new-age firms cede control to foreign investors From a small segment a few years ago, India has now about 338 lending startups, according to the India Fintech Report 2019 by global fintech insights platform Medici and Zone Startups.
  • However, with access to more data for credit scoring such as transaction behaviour, app-based data, location information, social data and others, these new lending models are aiming to increase this threshold by additional 10–15 per cent which is a huge market opportunity, the study said.
  • Manav Jeet, founder of online lending firm Rubique, said, “Few years ago, the concept of ‘online loan’ in India was confined to information search only.
  • Most of the new age lenders are offering online loan in personal loan category,” Jeet said.


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