Agel provides Sharia-compliant, digital, and cashless merchandise credit limits to MSMEs within its network. This platform aims to empower MSME growth and accelerate financial inclusion by offering industry-agnostic credit.
Funding
Funding not disclosed
Founders
Product
Problem
Micro, small, and medium-sized enterprises (MSMEs) often face challenges in accessing timely and affordable credit to procure inventory, hindering their growth potential. Traditional financing options may involve complex procedures, collateral requirements, and delays, making it difficult for MSMEs to manage their working capital effectively.
Solution
Agel provides a Sharia-compliant digital platform that facilitates merchandise credit limits for MSMEs within its network, enabling them to purchase goods from wholesalers and suppliers on credit. The platform streamlines the transaction process between retailers and wholesalers by providing a seamless and efficient way for retailers to access credit and manage payments. Agel also offers wholesalers a solution to receive payments promptly, typically within 24 hours, while allowing retailers flexible repayment terms. By leveraging a digital platform and adhering to Islamic finance principles, Agel aims to empower MSME growth by improving access to credit and facilitating smoother transactions within the supply chain.
Target Audience
Agel primarily targets MSMEs, including retailers and wholesalers, particularly those dealing in sectors like clothing and accessories, who seek Sharia-compliant financing solutions to manage their inventory and working capital.
Features
- Digital platform providing Sharia-compliant merchandise credit limits to MSMEs.
- Facilitates transactions between retailers and wholesalers, offering credit to retailers and prompt payments to wholesalers.
- Mobile application for managing transactions, tracking sales, and monitoring credit limits.
- Flexible repayment options for retailers, enabling them to manage their cash flow effectively.
- Credit scoring and risk assessment models to determine appropriate credit limits for MSMEs.
- Integration with point-of-sale (POS) systems for seamless transaction processing.
- Customer support via phone and on-site visits to resolve technical issues.