(Eds: Disclaimer: The following press release has been sent to you under an agreement with Business Wire India. PTI assumes no editorial responsibility in this regard.)
Bangalore, Karnataka, India – Business Wire India
• Extends its xlr8 platform and Zero Touch technology to its business partners and suppliers, enabling automated invoice generation, real-time approval and instant payment for their services.
• The xlr8 platform provides a single point of access to view, track, analyze and download service status, pending / updates and payment statements
Lendingkart Technologies Private Limited, India’s leading fintech company, announced the extension of its Zero Touch technology to DSAs and partners on the xlr8 platform. Launched in December 2020, the platform allows online partners to track the status of their loan journey and the SaaS platform offers offline partners a single solution to serve, create and complete their requests without any manager. . The platform is accessible to Lendingkart’s proprietary Zero Touch technology which helps make the process fast with minimal document requirements.
Committed to strengthening the relationship with its partners more than ever, Lendingkart has launched an improved version of xlr8 which allows instant invoicing and payment without any manual intervention or dependence on any team. This improvement was planned after extensive research by the team to identify key weaknesses and areas where Lendingkart can really propel the growth of its partners. Setting a new benchmark for the industry which has a 45-60 day payment cycle, Lendingkart aims to support partners with real-time payments. These partners can focus on their competence to reach MSMEs through their relationship and not worry about submitting invoices, reconciling and waiting for payments. Partners can view, track, analyze and download their payments and related information from the platform.
Commenting on the expansion of its Zero touch technology platform, Manish Bhatia, President of Technology, Analytics and New Capabilities, Lendingkart said, “In an effort to empower and support MSMEs, Lendingkart has committed to developing technological solutions that support and grow their business. with minimal resources. In these unprecedented times, a large segment of MSMEs are in need of financial support and assistance. Through our Channel Partner and Improved Platform, the Zero Touch Platform will help all SMBs and MSMEs to make the lending process transparent and get financial help in time to recover and bounce back stronger.
SD Associates, a leading offline partner, has been associated with Lendingkart for over four years. Speaking on their partnership, Manoj Vijay, SD Associates, said: “I am delighted to partner with Lendingkart for this unique solution enabling instant payment after disbursement of the working capital loan. With the Xlr8 platform, we can generate, verify and approve details in real time, eliminating delays due to manual interventions around invoicing and payment. Amid the uncertain business environment, this is a critical solution, we look forward to other NBFCs and banks adopting a similar instant payment model soon. “
Speaking about their partnership, Satya Gumandi, “By working closely with the origination team, this solution was essential for instant payment for services. I used to borrow funds to make payments or limit my trades to selected connectors and locations. With Lendingkart’s improved platform, payments are now possible on the same day, allowing for faster geographic expansion and increased origin. I am grateful to Lendingkart for pioneering this change for offline partners, which is sure to have huge benefits. “
Lendingkart provides short term unsecured working capital loans to MSMEs with minimal paperwork within 72 hours. These include companies that have little or no credit history available. The size of the loan notes ranges from 50,000 rupees to 2 crore for a period of 1 to 36 months. The company analyzes more than 5,000 data points from a variety of sources and relies on robust in-house technology tools based on big data analysis and machine learning algorithms to assess creditworthiness. Lendingkart also offers several customized financial products to meet the diverse business needs of today in competitive environments.
About the Lendingkart group
Founded in 2014 by Harshvardhan Lunia, Lendingkart has offices in Ahmedabad, Bangalore, Mumbai, Delhi NCR and has a service reach across India. The group is funded by reputable international investors such as Fullerton Financial Holding (FFH) (100% subsidiary of Singapore Sovereign Fund Temasek Holdings), Bertelsmann, Mayfield India, Saama Capital, Sistema Asia, India Quotient and others and has raised around 1000 crore INR of equity till date.
Lendingkart Technologies Private Limited is a working capital finance technology startup. The Company has developed technological tools based on big data analysis that allow lenders to assess borrower creditworthiness and provide other related services.
Lendingkart Finance Limited, is a no deposit NBFC, mainly lending to SMEs in India. The Company aims to transform lending to small businesses by enabling SMEs to easily access credit. Since its inception, Lendingkart Finance has assessed nearly half a million applications, disbursing over 1,000,000 loans to over 91,000 MSMEs in over 1,300 cities in the country’s 29 states and union territories. , making it the NBFC with the largest geographic footprint in the country.
Web page address: https://www.lendingkart.com/
Disclaimer: – This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI