FLEXILOANS.COM, AN ONLINE PLATFORM OFFERING SMALL BUSINESS LOANS, ACQUIRES CREDITPERIOD.COM
Mar 24, 2017
We have added another feather in our cap. We have acquired CreditPeriod.com, a Mumbai-based supply chain financial platform. This news has been featured on the TOI website also.
This acquisition will enable us to strengthen our supply chain financing vertical in the SME ecosystem. Creditperiod.com platform helps SME buyers to procure goods & services on credit while ensuring that the sellers get their money upfront, thereby enabling instant liquidity.
FlexiLoans.com is a digital platform for underserved SMEs to avail loans without collateral, and believe that this acquisition will also be instrumental in underwriting loans using ERP integrations with SMEs. Currently, our technology-enabled platform offers unsecured business loans for business expansion, working loan, seasonal inventory, PO based financing, invoice based financing and equipment purchases. We have disbursed loans in more than 70 cities and have partnerships with over 50+ leading supply chain corporates and e-commerce players. In the light of our growth, CreditPeriod.com will be a good fit into our current business and technology model.
FlexiLoans.com was started by Deepak Jain, Ritesh Jain, Manish Lunia and Abhishek Kothari in 2015. Venkatesh Viswanathan, the co-founder at CreditPeriod.com and a former financial forensics professional, will join our team to drive the supply chain finance initiatives.