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Google Pay, FlexiLoans Partner to provide Instant Loans to MSMEs


India’s MSME focused digital lending platform FlexiLoans has announced its collaboration with Google Pay to offer fast and flexible loans to their merchant base.

The collaboration will address the credit gap by offering instant loans to small merchants and entrepreneurs across India that are unable to access formal credit. FlexiLoans is aiming at disbursing loans to over 50,000 small businesses in the next 12 months from this collaboration.

FlexiLoans.com is the first lender to go live on the Google Pay platform. The systems have been co-created and designed for a superior customer experience. FlexiLoans’ proprietary technology platform has been deployed across many ecosystems in the country and are designed for embedded credit capabilities. Over the last 4 years, the firm has disbursed unsecured business loans worth over Rs. 1000+ Crs in 1400+ cities across India and has 100+ Ecosystem partners to get access to over 5 million MSMEs in the country.

Flexiloans platform gets more than 10000 applications per month, largely from Tier III and Tier IV cities in India. By the end of this year, it aims to hit an annualized disbursal run-rate of Rs 1000+ Crs in a single year.

Abhishek Kothari, Co-Founder, FlexiLoans.com said, “We are delighted to partner with Google in our mission to empower small business owners with affordable and fast credit. The timing is also right given the hardships that this sector has faced during the pandemic. Google Pay has been at the forefront of merchant payments and we hope to offer every Google Pay merchant a secure and digital borrowing experience.”

”Access to reliable credit is key to accelerating the growth of MSMEs, especially in this post-pandemic environment. With the help of technology, we can now make credit available in just a few taps to the millions of merchants using Google Pay for Business across India to receive digital payments. We are committed to partnering with the lending ecosystem to enable this process and our collaboration with FlexiLoans is a step in this direction,” said Sharath Bulusu, Director, Google Pay.

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