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Flexiloans ties up with Google Pay, bceomes first lender to go live on platform

The collaboration will also address the existing credit gap by offering instant loans to small merchants and entrepreneurs across India that are unable to access formal credit.

July 06, 2021 / 04:29 PM IST

MSME focused digital lending platform Flexiloans has said it will be partnering with payments service Google Pay to serve its merchant base.

Through this collaboration, Flexiloans will look to give out loans to over 50,000 small businesses in the next 12 months, it said in a press release.

This collaboration also makes the MSME lender the first of its kind on the Google Pay platform.

"We are delighted to partner with Google in our mission to empower small business owners with affordable and fast credit," said Abhishek Kothari, Co-Founder of Flexiloans.

Speaking on the development, Sharath Bulusu, Director, Google Pay, said that access to reliable credit is key to accelerating the growth of MSMEs, especially in this post-pandemic environment.

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The collaboration will also address the existing credit gap by offering instant loans to small merchants and entrepreneurs across India that are unable to access formal credit.

"We are committed to partnering with the lending ecosystem to enable this process and our collaboration with FlexiLoans is a step in this direction," Bulusu added.

This isn't the first collaboration Flexiloans has had with a payments service. Earlier on March 6, 2021,  PayPal said that it had entered into a partnership with FlexiLoans.com, to give freelancers, women entrepreneurs, sole proprietors, and MSMEs collateral-free business loans.

Currently, Flexiloans has given out unsecured business loans worth over Rs. 1000+ crore in over 1400 cities across India. It also has over 100 ecosystem partners to get access to over 5 million MSMEs in the country.
Moneycontrol News
first published: Jul 6, 2021 04:29 pm

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