Mumbai: Happy Loans, a digital lending platform focusing on micro-credit for the MSME sector has entered a partnership with rural digitisation and commerce optimisation platform called Storeking.
Focusing on providing Happy Loans' innovative and data-driven credit products to Storeking's substantial merchant network, the partnership has achieved the stunning milestone of disbursing Rs. 4 crores of credit in three months.
The synergy between the two companies emerges from the similarities in their targets - greater economic productivity and well-being for MSMEs in the country.
Happy Loans helps MSMEs receive credit conveniently through the application of smart technologies; Storeking looks to help rural MSMEs access the benefits of digitisation and e-commerce.
On the other hand, Storeking has used its considerable on-ground presence and outreach to connect over a million villagers to the benefits of e-commerce, and now Happy Loans is able to tap into their extensive merchant network and offer them credit.
Happy Loans has achieved full data integration with Storeking, allowing it to use its proprietary Artificial Intelligence (AI) driven systems to determine the best leads for credit and match them with the perfect kind of product.
The data enables Happy Loans to offer timely loans to help these merchants stock inventory or expand operations at the perfect time, helping them achieve greater commercial success.