Flexiloans has partnered with Google Pay to offer loans to small merchants and entrepreneurs across India who are unable to access formal credit and aims to disburse over to more than 50,000 businesses in next 12 months.
The digital lender is first to go live on the Google Pay platform and systems have been designed for a better customer experience. So far the lender has disbursed unsecured business loans worth over Rs 1000 crore in 1400 cities across India and has 100 ecosystem partners.
The platform has an annualised run rate of Rs 1000 crore in a single year.
Abhishek Kothari, Co-Founder, FlexiLoans.com said, “We are delighted to partner with Google in our mission to empower small business owners with affordable and fast credit. The timing is also right given the hardships that this sector has faced during the pandemic.”
“Access to reliable credit is key to accelerating the growth of MSMEs, especially in this post-pandemic environment. With the help of technology, we can now make credit available in just a few taps to the millions of merchants using Google Pay for Business across India to receive digital payments,” said Sharath Bulusu, Director, Google Pay.