StrideOne, a platform for tech-driven financial services for startups, reported that it had disbursed more than INR 500 crore after only six months of operation.
MSMEs, a sector key to India’s social and economic goals yet credit-starved, have received 85% of StrideOne’s disbursals.
“The unprecedented growth momentum we have achieved in our maiden year at StrideOne is a testament to the potential of tech-led credit distribution models. We are extremely bullish on doubling down this growth and are working towards diversifying our offerings to continue to enable India’s MSME success story,” said Abhinav Suri, Co-Founder, StrideOne.
The distribution model of StrideOne uses data to determine the efficiency of credit and promotes financial inclusion for MSMEs and startup supplier chains. Zero customer acquisition costs are another benefit of the anchor-led distribution model. In addition, StrideOne provides both partners and borrowers with a fully digital experience.
“With the advancements in tech & AI, immense possibilities across industries have emerged giving tailwinds to Indian micro-entrepreneurs and MSMEs. We at StrideOne are tapping into these advancements to democratize access to credit for these micro-entrepreneurs through fully digital, smartly designed, tailored credit offerings.” said Sameer Mahajan, Chief Business Officer, StrideOne.
StrideOne is seeking to develop new products to close credit and non-credit need gaps in MSMEs and startup supply chains, with plans to make more tech-focused acquisitions in 2022.
