Manish Lunia, Co-founder, Flexiloans.com
Manish Lunia, Co-founder, Flexiloans.com

A click moment for us was raising ₹100 crore in seed round to chase our dreams: Manish Lunia

Flexiloans's co-founder Manish Lunia says our first aha moment was witnessed when we developed an in-house technology to facilitate data-led lending at a click

Flexiloans.com was born out of the need to support growth of companies, which faced liquidity crunch at various intervals of business cycles. MSMEs in India are unable to access institutional funding even today due to their presence in tier 2/3 locations, their young vintage or just the lack of collaterals. Our first aha moment was witnessed when we developed an in-house technology to facilitate data-led lending at a click, wherein we could lend to businesses within 30 minutes of receiving the application.

Today, Flexiloans’ rule engines can onboard a seemingly ‘thin’ credit file with very limited information and enhance it with thousands of publicly available and proprietary data-points, analyse them on the basis of their preference to make the right risk-weighted offers within 48 hours. It is creating a ‘new market’ that’s spoiling customers who are used to suffer due to the banking czardom where a customer is made to wait for weeks and months for a decision, besides several branch visits and yet not get a funding that suits his requirements. After meeting several investors in early 2016 and hearing their views on how the business model looked promising but was crowded and uncertain, our resolve became stronger to create the market. Subsequently, we met our mentor, Sanjay Nayar, and showcased our product proposition. Then we got the backing of marque and seasoned bankers, including Vikram Sud and Anil Jaggia, to get the largest ever seed funding of 100 crore to chase our dream. It was, and will remain, the ‘click moment’ for Flexiloans.

We believe a small business needs multiple lending products across its growth life cycle and, thus, we have ensured a bouquet of products such as line of credit, term loans, loans on basis of PoS (point of sale) transactions, invoice and supply chain financing are available to them for growth.

There was one moment when fate turned their way, a moment that they can look back upon and say, that was when it started. Capturing click moments

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