FinAGG provides an invoice-based financing solution for MSMEs in India, enabling quick access to working capital through a digital credit card that facilitates cash flow in the supply chain. This platform addresses the challenge of delayed payments by allowing businesses to manage credit, invoice payments, and repayments all in one app, enhancing financial inclusion and operational efficiency.
Funding
$14.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
MSMEs in India face challenges in accessing timely working capital due to delayed invoice payments, hindering their operational efficiency and growth potential. Traditional financing options often involve lengthy processes and stringent requirements, leaving many businesses underserved.
Solution
FinAGG provides a digital platform that facilitates invoice-based financing for MSMEs, enabling quick access to working capital. The platform offers a digital credit card and a "Stock Now Pay Later" solution, allowing businesses to manage credit, invoice payments, and repayments through a single application. By streamlining the financing process and providing flexible repayment options, FinAGG enhances financial inclusion and empowers MSMEs to optimize their cash flow. The platform's robust underwriting engine and collection efficiency ensure low delinquency rates, while its digitized journey reduces loan disbursement times.
Target Audience
The primary target audience includes MSMEs in India, particularly retailers and distributors, seeking quick and convenient access to working capital to manage their cash flow and grow their businesses.
Features
- Digital credit card for easy access to working capital
- "Stock Now Pay Later" solution for managing inventory and payments
- End-to-end digitized loan disbursement process, reducing turnaround time
- Robust underwriting engine and collection efficiency for low delinquency rates
- Mobile app for managing credit, invoice payments, and repayments
- Integration with FAME (FinAGG AI for MSME Evaluation) for credit risk assessment
- White-label solutions available for banks, NBFCs, and brands
- Phygital presence with Fleet-on-Street (FOS) covering over 6200 pin codes in India