Happy, a neo-fintech platform, has announced its partnership with Roinet, a fintech company that caters to business opportunities and digital financial services in rural areas across the country. According to the company, the main objective of this collaboration is to close the funding gap that rural entrepreneurs frequently experience.
The startup, in a statement, said that this association will result in the extension of credit lines to Roinet's customers which will be offered through a 100 per cent digital journey. Insufficient funding has been a challenge within the MSME (micro, small and medium enterprises) segment and this association of Happy and Roinet will help achieve the scale of MSME funding and ensure that the overall under-represented and under-served micro business in India receives the required fillup.
Commenting on this partnership, Manish Khera, Founder of Happy said, “We are ecstatic about this endeavour and look forward to working with Roinet as we attempt to make a positive contribution within the rural financing space.”
Commenting along the same line, Vivek Gupta, Co-founder and CTO of Roinet, said, “We are pleased to have been able to secure this partnership, which will allow us to meet the financial needs of rural India while also encouraging rural entrepreneurship.”
So far, the organisation claims that it has disbursed loans amounting to more than Rs 500 crore across India. Under this partnership, Happy intends to broaden its reach to Roinet's merchants across India with its own lending APIs.