Credit and Finance for MSMEs: Digital lending platform Biz2X has partnered with business-to-business (B2B) marketplace TradeIndia to provide financing solutions to MSMEs, the company said in a statement. The collaboration has been done through Biz2X’s digital platform Maadhyam, a middleware platform under the umbrella of fintech company Biz2Credit to bring lenders, industry aggregators, and SMEs on a single platform.
Infocom Network Private Limited’s B2B portal TradeIndia will assist SMEs in its ecosystem, digitally, through the partnership. The associated SMEs will benefit from facilities such as line of credit and invoice-based financing through Biz2X’s Maadhyam, the company noted. Additionally, TradeIndia will be able to undertake credit monitoring, repayment and collection management of the financial products digitally.
TradeIndia CEO Sandip Chhettri observed that MSMEs could not take an ‘entrepreneurial plunge’ due to unavailability of capital and as partners, Biz2Credit and TradeIndia understand the needs of small businesses. “We strongly believe embedded finance and future products like Buy Now Pay Later (BNPL) need a robust technology platform and we are proud to partner with Biz2Credit for deploying Biz2X Maadhyam for all our financial needs for our network.”
Vineet Tyagi, Chief Technology Officer, Biz2X said, “Maadhyam is designed to make the Indian SMEs Aatmanirbhar. We are extremely excited to partner with TradeIndia to deploy the Biz2X Maadhyam to enable lending services swiftly to their entire B2B Platform.”
The partnership will lead TradeIndia to become an omnichannel multi-lender digital lending platform, the statement said. Moreover, the collaboration will help them manage complex product portfolios and improve turn-around time for underwriting, disbursement and collections with TradeIndia’s products on Biz2X’s platform, the statement added.