Company Research Report: Namaste Credit

Company Overview

• Name: Namaste Credit

• Mission: The mission of Namaste Credit is to democratize SME (Small and Medium Enterprises) lending in India by providing equitable access to credit.

• Founded: The company was founded in 2014.

• Founders: The co-founders are Gaurav Anand and Lucas Bianchi. They were joined by Krishnan Parameswaran as Co-founder and CTO in 2015.

• Key People: Gaurav Anand, Lucas Bianchi, Krishnan Parameswaran.

• Headquarters: The company is headquartered in Bengaluru, India.

• Number of Employees: No information is available.

• Revenue: No specific revenue figure is provided, but the company is on course to clock a $2.5 million Monthly Recurring Revenue (MRR) by FY23.

• What is the company known for: Namaste Credit is known for its innovative approach in the fintech sector, combining a B2B loan marketplace with an AI-based credit underwriting engine to improve credit access for SMEs.

Products

iCAM (Intelligent Credit Assessment Model)

• Description: A proprietary AI and ML-based credit assessment model designed to assess the creditworthiness of SME borrowers, minimize fraud, and reduce the turnaround time.

• Key Features:

• Processes unstructured data via an OCR engine without manual intervention.

• Analyzes 100,000 alternative data points for better underwriting.

• Used by top lenders like HDFC Bank, ICICI Bank, Axis Bank, and others.

Namaste Biz Loan Hub

• Description: A neobank-led B2B loan marketplace that connects SMEs with over 80 lenders, including banks and NBFCs.

• Key Features:

• Easier onboarding process for SMEs.

• Claims to enhance credit access 6X for SMEs.

• Significant reduction in decision-making-to-disbursement time.

Recent Developments

• Recent Loans and Disbursements: As of mid-2019, Namaste Credit disbursed loans worth Rs 1,700 crore, which nearly doubled to Rs 3,000 crore by 2021, with monthly disbursals between Rs 150 to Rs 200 crore.

• Funding:

• Raised a Pre-Series B round led by Amicus Capital in May (undisclosed amount, total funding of about $10 million to date).

• Previously raised $3.8 million in Series A in 2018 led by Nexus Venture Partners.

• New Product Innovations:

• Predictive analytics tools in development for demand forecasting.

• Automated risk monitoring for banks.

• Growth Projections: Targeting Rs 500 crore in monthly loan disbursals by March 2022.

• Future Plans:

• Planning to raise a “full-fledged” Series B round up to $20 million.

• Intend to become the leading player in the SME lending segment within 24 months.

Partnerships

• Lending Partners: Collaborates with over 80 lenders, including major banks and new-age fintech companies.

• New Collaborations: In talks with various lenders to implement new features like predictive analytics and automated risk monitoring.

Conclusion

Namaste Credit is actively revolutionizing the SME lending landscape through technological advancements and strategic partnerships, aiming to expand its market share and enhance credit access for millions of SMEs across India.