Fintech platform StrideOne partners digital lender ZipLoan to lend to MSMEs | The Financial Express

Fintech platform StrideOne partners digital lender ZipLoan to lend to MSMEs

Ease of Doing Business for MSMEs: The partnership will enable the fintech platform StrideOne to access the digital lender ZipLoan’s customer base.

Fintech platform StrideOne partners digital lender ZipLoan to lend to MSMEs
Ishpreet Gandhi, co-founder of StrideOne, believes the partnership with ZipLoan will help them dive deeper into the MSME ecosystem.

Ease of Doing Business for MSMEs: Fintech platform StrideOne and digital lender to MSMEs ZipLoan today announced their partnership to dive deeper into the MSME credit space, said StrideOne in a statement. The tech-led financial services provider has also picked up a minority stake in ZipLoan, it said.

StrideOne is building a digital banking platform for startups and their ecosystem. The partnership will enable them to cater to the MSMEs too with access to ZipLoan’s customer base. ZipLoan, providing working capital solutions to over 8 million MSMEs in India, has more than 11,000 customers with an asset base of Rs 150 crore.

Also Read: IndusInd Bank, Asian Development Bank partner to offer supply chain financing for MSMEs

Founder of StrideOne, Ishpreet Gandhi, said MSMEs remain “credit starved” and struggle to get working capital loans. The partnership with ZipLoan will help augment financial inclusivity for MSMEs, he asserted.

Kshitij Puri, co-founder and chief executive officer of ZipLoan, said the collaboration will help them scale their operations. “Combining StrideOne’s startup acumen and deep understanding of the entrepreneurial ecosystem in India with our experience of having served over 11,000 MSMEs across five key markets will help us expand both our reach and product suite.”

In the statement released, the company said they were looking forward to bridge technological and financing gaps of MSMEs by leveraging the startups’ ecosystem of vendors and suppliers most of which are MSMEs. Alternative data from such startups (such as ecommerce players or logistics companies) can help in credit modelling to meet the credit demands of their ecosystem partners.

Also Read: Nearly Rs 15,000 crore goods purchased by govt from micro, small enterprises in FY23 so far: Govt data

To assess the creditworthiness of prospective customers, Ziploan uses an automated credit engine or a risk assessment algorithm, ZipScore. It has disbursed Rs 650 crores in the last 5 year through line of credit, equipment finance and term loans to manufacturers and distributors.

On the other hand, StrideOne has also disbursed Rs 650 crores in the last eight months, having launched supply chain finance solutions for startups.


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