Inception of FinnUp

Finn-Up. We’re here. We’ve been here for some time now and while some of you may know or recognise us, we’re a new name to most.?

So, what does FinnUp mean? To keep it simplified, it means Financial Upliftment. We are a debt marketplace, helping businesses and enterprises in India to raise capital for their business needs.

We offer a wide range of debt marketplace products on our platform. Some of the products we offer include:

• Term Loans
• Bill Discounting
• PO Financing
• Loan Against Property
• Lease Rent Discounting
• Cash Credit/ Working Capital

Basically, we’re your one-stop shop for raising debt.?

Recognising the problem

According to research, there are currently 7.9 million registered MSMEs in India and this number is rapidly growing. Over the last two decades, businesses have grown across various industries such as food, transport, logistics, e-commerce, social platforms, Saas based firms, and of course financial institutions, to name a few. There are also a large number of traditional businesses and enterprises that have revamped their operations to cater to the newer generations.?

While businesses specialise in their niches, each company, regardless of its size, revenue or industry, requires capital. It is what drives the business to keep running its operations or to even expand. Furthermore, this is an ongoing process, and not just a one-time demand model - Businesses may deem it necessary to raise capital for:

• Maintaining a steady cash flow?
• Improving or building credibility
• Executing a Project
• Day-to-Day operations of the business

No matter what the business model, every enterprise requires capital.

This is where FinnUp comes in.?

How we started

We started with a vision to make the lending ecosystem more convenient and to ensure the availability of debt capital to each and every deserving SMEs and mid-market corporates in India.

The journey at first seemed to be significantly tough as the idea is to improve the lending and borrowing ecosystem in the country. The idea is not to rebuild the lending system but to improvise and expand the horizon of the borrowers and also that of lenders. The concept is to discover, underwrite, execute and manage the existing set of counterparties, making the entire journey seamless and cohesive.

The task was challenging - we identified many gaps and problems that needed to be addressed to build a more refined ecosystem:

1. There is a lack of information about products available in the marketplace.?
2. The engagement is more transactional than holistic in nature.
3. Lack of options for the borrower
4. Lack of detailed reports available to lenders for quicker decision making

The goal was ascertaining the correct product mix in the journey of the enterprise.?

Understanding the need for a refined ecosystem

One of the major pillars of any enterprise is Finance. When it comes to debt raising, many enterprises experience difficulty in opting for the right type of loan. Here are some of the challenges that they face:

1. Lack of awareness: There is a lot of uncertainty and knowledge for enterprises to (a) identify the type of loan, and (b) understand the right set of lenders in the company lifecycle.
2. Lack of options: While there are many NBFCs', Banks, and other forms of lenders, the eligibility and criteria differ for lenders. This results in very few options at the time of choosing. FinnUp's matchmaking algorithm will help you find the right lenders based on your eligibility.
3. Lack of Information: Many startups or businesses do not maintain data in a structured format making them ineligible for a loan.
4. Higher Interest Rates: Factors like credit score, abrupt presentations and unstructured reporting may result in a higher interest rate on the business loan which makes it difficult for the enterprise to raise debt.

Problems faced by lenders are no different:

1. Lack of transparency
2. Lack of documentation

Thus, FinnUp was built to bridge the gaps between borrowers and lenders in the debt marketplace.?

What do we offer?

A debt-raising platform that offers multiple products and services available in the debt marketplace.?

For Borrowers:

• Easy onboarding?
• One-time effort in the data upload
• Data Security and Transparency
• Access to multiple products in the debt marketplace such as Loan Against Property, Term Loans, PO Financing, Supply Chain Financing, Bill Discounting, etc.

For Lenders:

• Complete transparency
• Structured Data Reports
• Portfolio Monitoring

We have touched more than 250 SME, and mid-market customers with more than 70 active customers and we’re only getting started. Get started with us and experience your growth journey with FinnUp, it’s so simple!

1. Log on to our website
2. Enter your email address and phone number
3. Fill out your company details
4. Upload the necessary documents
5. Find your match!

What’s more, is that we strive to ensure synergy between our clients and lenders. We also provide honest and transparent feedback and take great pride in our integrity to serve our clients.?

Overcome those challenges by connecting with us today. Learn more about how FinnUp will help you get easy access to the best lenders in the country and help scale your business.

#DebtSimplified