SME | Pixr8 News

25Sep By PriyankaNo Comments

BUSINESS

Fast Loan Options For Your Small Business

Cash flow problems are a common and dangerous threat for many small business owners. But even if they’re able to maintain a reliable cash flow, it is still not always sufficient enough to put all their plans into action. In most cases, they would need some form of financing to cover unexpected expenses or help expand their business. Banks are the traditional provider of business loans. But while they’re a good option to keep loan costs down, it can take months to get your money, plus they usually won’t lend to small businesses. If your small business is in a financial shortfall and needs financing as soon as possible, here are some fast loan options that are worth considering. Business Cash Advance Loans Business cash advance loans are an advance on your busine...

Facebook offers Loans to Small businesses in India

20Aug By AnkitaNo Comments

News

Facebook offers Loans to Small businesses in India

New Delhi, 20 Aug 2021: Facebook India announced an initiative known as the ''Small Business Loans Initiative'' in partnership with Indifi to help small and medium businesses (SMBs) get quick access to credit through independent lending partners. India is the first country for Facebook where this program is getting rolled out. The program is open to businesses registered across 200 towns and cities of India. Through Facebook's partnership with Indifi, small businesses that advertise with Facebook can get loans between Rs 5 lakh ($6,720) to 50 lakh ($67,200) at a predefined interest rate of 17-20 percent per annum, and applicants will not be charged a processing fee. Indifi will also disburse the loan amount within five working days of the borrower completing all documentation for...

Demonetisation was Executed Poorly, Introduction of 2000 Notes was a bad idea: Uday Kotak

10Dec By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Demonetisation was Executed Poorly, Introduction of 2000 Notes was a bad idea: Uday Kotak

Mumbai: Speaking at former chief economic advisor Arvind Subramanian's book launch, the MD of Kotak Mahindra Bank said that the outcome of the controversial demonetisation would have been "significantly better" if "simple things" like cancelling the introduction of higher denomination Rs 2,000 notes. The executive vice chairman and managing director of the fourth largest private sector lender Kotak Mahindra Bank has also said small businesses are in a difficult situation at present and has welcomed the government focus to revive the sector. On demonetisation, he said the outcomes would have been different if it was planned well. "I think we would have had significantly better outcomes, if we had just thought about simple things. If you are taking out Rs 500 and Rs 1,000 notes, why ...

31May By AdityaNo Comments

FUNDING

CredRight Raises Rs 9 Crore Pre-Series A Funding

Hyderabad-based fintech startup CredRight raises 9 Crore from Accion Venture Lab, YourNest, an early stage venture capital fund along with other individual investors. Lending platform CredRight provides a loan to unserved and underserved micro, small, and medium enterprises (MSMEs). The company partners with chit funds, which are similar to Rotating Savings and Credit Association (ROSCAs) in the United States but use a reverse auction to distribute pooled funds across India to acquire customers and use previously untapped chit data, along with other data points, to underwrite a loan for a customer. "CredRight plans to further invest in technology, grow its team, and continue its expansion plans to reach even more unserved and underserved customers," said Neeraj Bansal, co-founder an...

23May By Lavina TolaniNo Comments

Market

Food Marketplace SaleBhai Files for IPO on BSE

SaleBhai Internet Pvt Ltd, an online marketplace for specialty foods has filed a draft prospectus with the BSE's SME platform to launch initial public offering intending to raise about Rs. 24 crore. The Ahmedabad based company that offers a varied marketplace for specialty food such as snacks, sweets, bakery items, dried syrups, chocolates and confectionery has confirmed to issue 22,59,600 equity shares, offering 26.58 percent of the company's equity in the market while listing on Bombay Stock Exchange. The IPO has been assigned a fixed price of Rs. 105 per share that will result in stake dilution of 26.58%. Interestingly, the company claims to be the very first B2C e-commerce startup firm to have filed for an SME IPO. The e-commerce firm intends to use the funds raised through I...

Paymate Acquires Lending Platform to Help SMEs

15May By NitishNo Comments

ACQUISITION

Paymate Acquires Lending Platform to Help SMEs

Mumbai- India’s payment startup PayMate announced the acquisition of Z2P (Zaitech Technology Pvt. Ltd.), a digital lending platform which provides hassle-free and real-time credit using social and banking data along with proprietary analytics and AI. The acquisition is expected to be completed by May 2018 and it follows the announcement in February of this year by PayMate of its B2B partnership agreement with Visa. As a result of the acquisition, PayMate acquires an innovative and proven lending solution in Z2P, which when combined with PayMate’s proprietary B2B payments platform will revolutionize the way businesses manage their payment operations, cash flow, and access to growth capital. PayMate plans to partner with banks and NBFCs to improve the flow of credit to SMEs. According to ...

15May By NitishNo Comments

FUNDING

Lending Firm Raises 30 Crore Debt Funding From SBI

Gurugram based fintech platform Aye Finance raises another Rs. 30 crores debt funding from India's leading public sector bank State Bank of India (SBI). Earlier Aye Finance raises Rs 30 crores as debt financing from BlueOrchard Finance Ltd. Also, this is the second time that the SBI has extended a debt facility to Aye to lend more money to micro and small-scale enterprise financing in India. Aye finance is equity funded by three marque investors Accion, SAIF Partners, and LGT. The lending firm is looking to raise additional USD 20-25million by the end of the current quarter. Aye presently provides its service to over 10 states and boasts 72 branches in India so far. In the FY 17-18, it provided over 40,000 loans which were largely thanks to the customization of their pro...

5 Ways in Which Small Businesses can Survive amidst Technological Revolution

8May By Lavina TolaniNo Comments

ANALYSIS

5 Ways in Which Small Businesses can Survive amidst Technological Revolution

Are you a small business owner facing a crisis on the economic front? Has your business fallen on hard times and things seem unresolvable? Running a business is never a cakewalk, but sometimes it gets tough to make both ends meet. In the dynamic age of technology that is driven by gadgets and everything going "smart", one can never be sure of smooth sustenance. A business that is at the zenith of success might find itself struggling in the wake of inevitable competition and rising customer expectations. While its never too late to begin, it's the right time for business owners to begin evaluating future before it gets overtaken by constantly changing technology. Entrepreneurs need to have a clear picture of how they see themselves in future instead of getting overwhelmed by evolving ...

2Apr By Sheldan RungasamyNo Comments

FUNDING

Veritas Finance Receives 23 crore funding from Belgium Firm

Veritas Finance, a Non-Banking Financial Company (NBFC) based in Chennai received Rs 23 Crore as in debt financing from Incofin Investment Management which is a fund manager company based in Belgium. The NBFC first allotted 230 Non-Convertible Debentures (NCDs) worth Rs 10 lakhs each on March 26, 2018. So far, Veritas Finance raised over Rs 268.8 Crore from a group of investors that include CDC Group, Swiss Fund, AAV Sarl and Lok Capital in equity and debt financing. Incofin Investment Management is a company that manages funds and investments in developing countries motivated in promoting inclusive progress. The company relies on investors that include leading development funds, banks, insurance companies, pension funds, high net worth and retail investors. The firm is famous for in...

27Mar By AdityaNo Comments

FUNDING

Fintech Startup CashSuvidha Raises $1 Million Funding

Indian Fintech startup Cash Suvidha raises $1 million pre-Series A funding from the set of investors including Initia Holdings Ltd, Vipin Agarwal, Partner in India Industrial Growth Fund and others. The new funding round will use to facilitate further lending to SMEs, MSME, individuals and improve the technology infrastructure. Cashsuvidha is targeting users from Delhi NCR, Bangalore, Pune, Hyderabad, Mumbai, and Rajasthan locations to maximize borrowers. According to the company, which registered as a Usha Financial Services receives around 15,000 loan applications per month and disburses loans within two working days. The Delhi based company has raised total $5.2 million debt funding and distributed Rs 152 crore. As per the data, Cashsuvidha 80% loan goes to SME sector. ...

Hyderabad based Fintech Firm BASIX Sub-K raises 35 Crore

21Mar By NitishNo Comments

FUNDING

Hyderabad based Fintech Firm BASIX Sub-K raises 35 Crore

Hyderabad-based financial company BASIX Sub-K iTransactions Ltd has raised Rs. 350 million funding to deepen their efforts towards greater financial inclusion in India. The funds were raised from global nonprofit and financial inclusion pioneer Accion, and Nordic Microfinance Initiative (NMI), a public-private partnership, owned by among others, the Norwegian and Danish governmental funds for developing countries (Norfund and IFU). The company will use this large funding amount for business growth in small cities and rural area by investing in the expansion of its agent banking network and credit facilitation for micro and small businesses. Also, the amount will use to make the platform tech enable. The company position itself as a preferred FinTech as well as distribution partner...

20Mar By NitishNo Comments

FUNDING

Nowfloats Raises 14 Crore Additional Funding From Existing Investors

Hyderabad based Nowfloats which helps small businesses to build an online presence has raised ?14.36 Cr funding. The funding round appears to be a bridge round from existing investors, Omidyar Network, Iron Pillar Capital & others. As per the regulatory filing, Nowfloats had also secured 10 crore loan from Blacksoil Capital and its received the first part of the amount, which is 5 crores. The funding will use to run the current operation. The funding is based on debt funding, where Nowfloats Technologies Private Limited allotted 14,35,594 debentures at ?100/- each on March 7, 2018. Founded by Neeraj Sabharwal, Nitin Jain, Ronak Samantray, and Jasminder Gulati, NowFloats has so far raised ?83.8 Cr from investors including Omidyar Network, IIFL, Faktory Ventures, Blume Ven...