Clix Group partners with MSME lending platform Tezzract
By Leandra Monteiro
- Clix Capital
- Clix Group
Clix Group, which comprises Clix Capital and Clix Finance, a non-banking financial services group, has entered into a strategic partnership with Tezzract Fintech Private Limited, to bring lending solutions to MSMEs in India. Under this partnership, Clix aims to lend an additional INR 1000 crore to MSMEs by the end of this year.
Both companies aim to create solutions to address the significant challenges that MSMEs face in raising funds to grow and compete in an already difficult post-Covid environment. With inflation rising and interest rates rising, this partnership aims to use important data points to help small businesses raise funds in a timely manner and at competitive rates.
Rakesh Kaul, CEO – Clix Capital, expressing his thoughts on the collaboration, said, “We are pleased to enter into a strategic alliance with Tezzract Fintech Private Limited due to their cutting-edge technological prowess. Together we aim to disburse INR 1,000 crore to MSMEs in FY23. Tezzract is developing proprietary technology that we can leverage to meet the diverse needs of MSMEs as they evolve, helping to maximize the benefits of lifetime value and reduce transaction costs for them.
The partnership will not be limited to solely finding MSME clients for Clix, but will work to co-create co-origin and co-lending opportunities with banks and NBFCs. Over the next 15 months, Clix and Tezzract aim to create an MSME Accountability Marketplace, where banks and other financial institutions can participate to recover loan assets from secured and unsecured assets.
Shaily Maheshwari Kajaria and Vivek Raghavan, co-founders of Tezzract said, “We are excited about this long-term partnership where, with the significant strengths of Clix Group and our Tez agility, we will create a powerful solution that will help build a sustainable AUM for Clix and other co-lenders. As part of the CLIX-TEZ partnership, we have a product-neutral process – customer first. No – Touch frictionless Tez technology along with strong Clix balance sheet support will enable our vision INDIA MSME CREDIT CLUB. At Tez, customers’ share of mind and share of wallet are both equally important. »
The partnership will be instrumental in heralding innovation and revolutionizing the lending space through Clix Group’s differentiated digital lending products and Tezzract’s technology and deep analytics-driven approach. The two entities will work together to explore and create products to better cater to MSMEs as a category and pursue their goal of meeting the underserved needs of millions of Indian MSMEs.
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