April 07, 2017 | Access to finance is the most important factor for the growth of any SME and Bank loans is the most common source of finance. While bank financing will continue to be crucial for the SME sector, new options like equity financing is slowly but surely finding its way amongst SMEs. …
Tag: IDFC Bank
Banks extend help to start-ups in need of credit
Mumbai: Private sector lenders HDFC Bank, Axis, IDFC, Kotak Mahindra and Yes Bank have started extending short term credit to meet working capital needs for Ola, Power2SME, Flipkart, OYO, Zinka, Capital Float, investment banker-turned-entrepreneur Fulguni Nayar-owned Nykaa and many others, throwi…
IDFC ties up with Capital Float to lend to SMEs online
IDFC Bank, which was set up last year, has tied up with Capital Float to extend loans to the small and medium enterprise (SME) businessmen online. Given the inadequate data on the creditworthiness of small businessmen and their numerous defaults, few banks lend to the SME sector now. With branche…
B2B online marketplace Udaan.com raises $10 mn from Lightspeed
Udaan.com, a business-to-business online marketplace, on November 22 said it has raised $10 million in series A funding from venture capital firm Lightspeed Venture Partners India and Lightspeed US. Udaan was launched earlier this year by Sujeet Kumar, Vaibhav Gupta and Amod Malviya, former senio…
IDFC Bank & SME MaXX come together to boost Indian SMEs in e-Commerce
SME MaXX, India’s leading SME success services company, announced collaboration with IDFC bank to enable Indian SMEs set up an effective e-Commerce channel for their business. As a part of the collaboration IDFC bank will sponsor a series of e-Commerce workshops in major Indian cities. E-Co…
Microfinance firm Suryoday to turn into small bank by Jan
Navi Mumbai-headquartered Microfinance Institution (MFI) Suryoday is set to convert itself into a small finance bank by the end of this month or early next month. The company has been able to migrate its MFI operations to a banking platform using a cloud-based core banking platform provided by FI…
Alibaba ramps up B2B commerce play in India to aid SMEs
Amid talk of Alibaba’s foray into the consumer-facing e-commerce space in India, the Jack Ma-led Chinese internet behemoth has gone ahead and struck a string of partnerships to prop up its existing business-to-business marketplace venture here in India. Alibaba is partnering with DHL and De…
By March 2020, 60% of our loan book should be in retail & SME: IDFC Bank MD Rajiv Lall
It’s almost a year since IDFC Bank began its operations. Rajiv Lall, Managing Director, talks to Nupur Anand on the journey till date. Edited excerpts: Q: You’d set ambitious targets at the start on the retail (small depositor) front. Where do you stand? A: We are acquiring around 20,000 customer…
Kalaari Capital leads $2 million Series A funding round in Creditvidya
Early-to-mid-stage venture capital firm Kalaari Capital has led a $2 million (Rs 13.3 crore) funding round in financial technology startup Infocredit Services, which operates credit score advisory platform CreditVidya . Additionally, the three year-old, Mumbai-based startup has received Rs 1 cror…