New Delhi, Sep 1: Moneyboxx Finance Limited, a listed NBFC focused on financing small and micro entrepreneurs, today announced a strategic partnership with Trusave Fintech Private Limited (“Bachatt”) to launch its Digital Lending Platform, with the product SmartBiz Loan, marking an important milestone in the Company’s digital transformation and its journey towards building a scalable, technology-led lending franchise.
The platform is designed to expand Moneyboxx‘s reach to nano and micro enterprises and self-employed individuals seeking smaller-ticket business loans, a segment that has traditionally been difficult and relatively expensive to serve through conventional branch-led and phygital lending models.
Through digital sourcing, onboarding, underwriting and servicing, the platform is expected to enable Moneyboxx to significantly improve the economics and scalability of small-ticket lending, while providing customers with a faster and more seamless borrowing experience. The platform is targeting to achieve an approval turnaround time of under 5 minutes, subject to applicable credit and underwriting processes.
The digital channel will also enable Moneyboxx to address short-term and seasonal working-capital requirements, including inventory purchases, business expansion and increased demand during festive and seasonal periods.
Strategic Partnership with Bachatt
Bachatt is a fintech platform focused on empowering India’s large, middle-income population through savings and access to financial services. Bachatt is backed by marquee investors including Accel, Lightspeed and Info Edge Ventures, among others.
Under the partnership, Bachatt will act as a Lending Service Provider (LSP) and leverage API-based integrations to facilitate customer acquisition, digital onboarding, operations and servicing. Moneyboxx will remain the lender and will independently evaluate and underwrite all loan applications in accordance with its credit policies and applicable regulatory requirements.
The partnership combines Bachatt‘s technology and digital distribution capabilities with Moneyboxx‘s credit underwriting, lending and servicing capabilities, creating a platform to expand access to formal credit for underserved small businesses.
A New Growth Avenue for Moneyboxx
The launch marks the beginning of Moneyboxx‘s digital lending journey and represents an important step in the Company’s strategy to complement its established branch-led model with technology-enabled distribution.
By combining its existing physical presence and underwriting capabilities with digital sourcing and servicing, Moneyboxx intends to build a more scalable and diversified lending platform, with the potential to progressively expand its addressable customer base and strengthen operating leverage as the digital portfolio scales.