Tech-led financial services platform StrideOne and MSME lender ZipLoan have entered into a strategic partnership for driving deeper penetration in the MSME credit space. ZipLoan is a fintech focused on providing working capital solutions for the 8 million MSMEs in India. Currently, ZipLoan has 11,000 customers across five key markets with an asset base of Rs 150 crore. StrideOne is building a digital banking suite for startups and their ecosystem. This partnership will double down on the synergi.
"Combining StrideOne’s acumen and understanding of the entrepreneurial ecosystem in India with our experience of having served 11000 MSMEs across key markets will help us expand both our reach and product suite,” stated Kshitij Puri, Co-Founder & CEO, ZipLoan.
In a statement, Ishpreet Gandhi, Founder, StrideOne, said, “With the evolving Indian startup landscape and the rise of multiple unicorns, many opportunities have been unlocked for MSMEs as well. Despite their promise however, MSMEs remain credit starved and struggle with access to working capital. Aligned with our larger goal of fueling India’s entrepreneurial ambitions, our partnership with ZipLoan is a strategic step towards enhancing financial inclusivity for MSMEs”
StrideOne has already launched supply chain finance solutions for startups. Through their anchor-led approach to lending StrideOne brings in a nuanced understanding for the startup and MSME ecosystem needed to create smartly designed tailored credit structures that align to the diverse capital needs of Indian MSMEs. It has disbursed Rs 650 crore in the last 8 months with an AUM of Rs 300 crore. It has raised equity from Elevar Equity in the past.
