Rupifi, Muthoot Finance Tie up to Offer Instant Credit to SMEs

Rupifi, SME lender and fintech has associated with non-banking financial company Muthoot Finance aim to power 15 million small and medium-sized enterprises with access to instant credit in the next few years.

Anubhav Jain, co-founder and CEO, Rupifi says, “We have been at the forefront of enabling frictionless and cash-flow linked credit to MSMEs for the past 12 months. We are currently working with B2B marketplaces across FMCG, pharma, fashion, agriculture and food domains, providing the SMEs transacting on these platforms with instant credit for their purchases. We have SME customers in more than 230 small towns and cities across the country, and we have analyzed more than a million data points over the past few months in building a robust cash-flow based underwriting framework. Muthoot Finance, with its pan-India presence and decades of experience, is the perfect partner for us to build a large portfolio over the next few years.”

The companies started this partnership earlier this year and are now looking to scale this across different industry verticals in the country.

Jayachandran B, chief operating officer – business loans, Muthoot Finance says, "Indian SMEs are going through a difficult phase especially post Covid. At Muthoot Finance, we are building products and driving various initiatives to provide them working capital support. Rupifi has built strong B2B embedded infrastructure and ‘Buy Now Pay Later’ (BNPL) is the need of the hour product for Indian SMEs, especially driven by increasing digitisation post Covid-19. Our partnership with Rupifi strengthens our offerings and helps us drive growth in the fast-evolving B2B space.”

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