Home Finance & Fintech Revolutionizing Receivables Financing for MSMEs

Revolutionizing Receivables Financing for MSMEs

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Northern Light Ventures Pvt. Ltd. (NLVPL) is taking the financial technology sector by storm with its innovative online receivables Fintech platform, Finworks360. 

Since its inception in September 2019, NLVPL recognized the critical need for timely working capital access for micro, small, and medium enterprises (MSMEs), often hindering their growth potential. To address this challenge, NLVPL combined finance and technology to create Finworks360, a groundbreaking platform that provides investment and collection solutions for MSMEs seeking working capital.

The platform, https://www.finworks360.com/, went live in February 2021 after around 1 ½ years of rigorous market and product research, along with extensive software development. Its primary goal is to bridge the gap between eligible MSMEs seeking short-term funding and investors eager to deploy liquid funds for above-average returns and portfolio diversification. 

Notably, Finworks360 aims to democratize the invoice discounting investment segment, making it accessible to a broad range of investors, including individuals, HUF, HNIs, and not just institutions.
Finworks360 offers its facilitation service platform to eligible sellers against invoices raised on high-quality debtors, including blue-chip companies with a minimum credit rating of A. 

The platform places significant emphasis on credit quality and transaction structuring, prioritizing the safety of investments. To further safeguard investors’ interests, Finworks360 appointed a SEBI registered Trustee in February 2023, adding an extra layer of transparency.

Leading the charge at Finworks360 are co-founders Jeewan Kumar, Rohit Kumar Nath, and Mayank S Thareja. Jeewan Kumar, the Managing Director and CEO, boasts over 25 years of experience in strategy, credit, IT project implementation, and business restructuring. Rohit Kumar Nath, the Director, and CTO, is a PMP-certified professional with extensive experience in engineering, software development, and B2B business models. Mayank S Thareja, the Director, brings 18 years of expertise in channel financing, working capital, and structured finance.

The co-founders’ journey has been marked by impressive achievements, including conducting business worth over 300 crores since the successful launch of Finworks360. Jeewan Kumar’s proven track record in supply chain finance includes appraising and funding projects totaling 15,000 crores with minimal delinquency. 

Rohit Kumar Nath’s international experience in project management and software development has been instrumental in driving Finworks360’s technological advancements. Mayank S Thareja’s deep understanding of receivable financing and extensive industry relationships have been invaluable in implementing robust risk management policies.

As a leading fintech platform, Finworks360 remains committed to innovation and addressing the evolving needs of MSMEs and investors. Its user-friendly website, www.finworks360.com, provides access to a comprehensive suite of services. The platform enables MSMEs to unlock the value of their outstanding invoices through invoice discounting, providing them with much-needed liquidity to fuel their growth.

Finworks360’s success lies in its commitment to “matching liquidity, returns, and safety.” By connecting eligible MSMEs with investors, the platform fosters a mutually beneficial partnership. MSMEs gain access to timely working capital financing, while investors can deploy their short-term liquid funds to earn attractive returns and diversify their investment portfolios.

Currently, Finworks360 employs 25 people and indirectly supports the employment of over 10,000 people, demonstrating its dedication to building a talented team to support its operations and growth. The platform offers a range of services, including invoice discounting, BG-backed purchase bill discounting, and advisory services in the alternative market space, focusing on asset acquisition and resolution.

The projected growth figures for Finworks360 are remarkable. With a strong focus on technology and distribution channels, the platform anticipates achieving an outstanding 60x revenue growth over four years. 

The projected income from operations is expected to grow from 10.71 crores in the first year to a staggering 598.99 crores by the fifth year. These figures underscore the platform’s potential to transform the receivables financing landscape.
Driven by pioneers of supply chain finance, 

Finworks360 aims to revolutionize the receivables market for MSMEs. Its robust growth strategy includes significant expansion and impact in the coming years. 

The platform aims to achieve AUM of Rs. 15,038 crores, facilitating a turnover of 75,189 crores. 
To achieve these ambitious goals, Finworks360 plans to attract 25,000 investors and forge partnerships with 600 channel partners, while simultaneously onboarding 2,000+ MSMEs and collaborating with 350+ “A” and above rated/blue-chip companies as debtors. 

These strategic collaborations will strengthen distribution channels and enhance reach, ensuring both MSMEs and investors can benefit from its innovative solutions.

In conclusion, powered by Northern Light Ventures Pvt. Ltd., Finworks360 is revolutionizing receivables financing for MSMEs in India
Through its finance and technology fusion, the platform offers a secure and accessible marketplace for MSMEs to obtain working capital financing while providing investors with attractive investment opportunities and portfolio diversification. With visionary leadership and unwavering commitment to growth, Finworks360 is poised to play a pivotal role in driving the financial success of MSMEs and investors alike.

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