We will help put the power back in the hearts, minds and wallets of people from the MSME sector. Traditionally, lenders have underserved MSMEs despite their manageable credit risk, lower delinquencies, and sustainable profit. We will endeavour to fix this lacuna by providing MSMEs access to business funding through innovative, transparent, and straight-through processes.
We are embarking on a quest to empower our MSME customers who aren’t served well by traditional banks and/or are trapped in a vicious circle of high-cost debt at the hands of informal and predatory moneylenders.
Despite having a strong appetite for business growth, these borrowers lack recourse to formal financing channels like traditional banks or large NBFCs, because a substantial portion of their income remains undocumented.
So, we have a substantial untapped market of low-risk entrepreneurs earning sustainable profit for us to service. Our services will enable these MSMEs to access credit easily, and we will acquire a loyal customer base—an assured win-win!
Digitally enabling the entrepreneurial needs of unserved and underserved businesses in the micro and small-medium enterprise segments.
Our founding team at Purple Finance is led by Amitabh Chaturvedi, who has close to three decades of relevant experience in the BFSI domain. Rajeev Deoras is the other senior member of the founding team with more than 30 years of experience in organisation building.
We want to establish ourselves first as a “Secured Fintech NBFC”, eventually converting into a “Digital Bank.” We commit to providing an easy and transparent customer journey, responsible credit, and faster decisions, backed by cutting edge technology.
Our ethos is shaped by the UN’s Environmental, Social and Corporate Governance (ESG) and Sustainable Development Goals (SDG). Our operation will be environment friendly and enable a positive social impact in our neighbourhoods.