Fintech lender HAPPY strives to facilitate INR 1,800 crore wealth creation for micro-MSMEs “Invisible Credit” in India


Bombay (Maharashtra) [India], September 29 (ANI / BusinessWire India): HAPPY, the MSME digital lender, established in 2017 by industry veteran and serial entrepreneur Manish Khera, today announced that it has so far catalyzed a huge wealth creation of over INR 1,800 crore for its 3.5 lakh unique clients in India borrowing through its platform and institutional lending partners. HAPPY facilitated the disbursement of credit worth over 500 crore INR through 18,400 PIN codes nationwide. This has uniquely benefited 3.5 lakh nano, micro and small businesses in over 80 categories including grocery stores, clothing, restaurants, business correspondents and others.

The ability of HAPPY to take out and grant loans to companies that were the first to credit and to develop them to develop their activities in multiple ways has proven to be a win-win situation. The timely availability of credit to these companies has catalyzed an exponential growth in their wealth. HAPPY, API-based digital lending platform, aims to reach 1 million customers by 2023, of which at least 40% are new to lending, moving closer to its vision of bringing invisible micro-MSMEs of credit in the formal credit ecosystem and accelerate the country’s inclusive growth agenda.

Manish Khera, Founder and CEO of HAPPY, said: “Although there are many players accompanying the digital lending boom in India, the micro-MSME segment is still excluded from flexible and fast access to credit. Beyond a simple approach, we pioneered the bagging of credit in the form of immediate working capital credit adapted to the professional cycles of micro-MSMEs. Our strong product technology platform is ideal for partners and lenders to expand into the MSME segment. The milestones that we have reached while remaining the start-up are a testament to the solvency of our clients, valuable partnerships and a strong and committed team. As an Indian entrepreneur, I see HAPPY as supporting the hard work of hundreds of thousands of micro-entrepreneurs by providing them with venture capital. ”The evolution of HAPPY’s business model was based on addressing barriers to digital credit Affordable for micro-enterprises on a large scale and easily The deep learning and insight has helped the lending platform to be nimble and suitable for multiple micro-MSME sectors.

HAPPY’s fully digital platform integrates seamlessly with lending institutions and aggregator networks, including point-of-sale, payments, wallet, food, agriculture and other technologies, with the potential to expand ‘access to credit to tens of millions of micro-enterprises. HAPPY, through its paperless, human-less, and app-less digital lending model, makes unsecured short-term working capital credit available to underserved microenterprises. The company has integrated its lending APIs and machine learning decision models with many of the largest payments, food tech and other aggregator networks in India, reaching over 3.5 million potential borrowers. HAPPY’s proprietary data-driven alternative credit model is capable of multisectoral underwriting and has shown one of the best results in the industry to date.

In the years to come, HAPPY aims to become a partner of choice for lenders and aggregator networks to serve, engage and retain millions of micro-MSMEs through its scalable, fully digital and flexible lending platform. This story is provided by BusinessWire India. ANI will not be responsible for the content of this article in any way. (ANI / BusinessWire India)

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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