India is the world’s sixth-largest consumer market. About 60% of India’s GDP is driven by private domestic consumption. Yet, 92% of retail businesses supporting this consumption are unorganized. This segment is the second-largest employment pool in our country, but also the least digitally connected.
Bridge2Capital is our solution to digitally connect unorganized and small businesses into the formal economy. We help small businesses become Digital Dukaandaars.
By 2028, Xtracap India aims to target about 2 million retailers in a serviceable market of 14 million retailers. We will provide a digital ecosystem in about 1,500+ towns and cities with high consumer demand.
With extensive experience in insurance, microfinance and working with retailers, our core team has a deep understanding of the small and medium-sized enterprises (SME). Over the years, we have successfully created and implemented large scale distribution channels for various products and services. Also, we have worked across the length and breadth of the country which gives us a deep insight into the behaviour of small business owners in different regions of India. Our technology team also showcases proven experience, having developed large customer application platforms for top international brands. The Bridge2Capital team as a whole have a deep understanding of our customer base as the majority of us are from small towns and cities ourselves.
Our supply chain finance (invoice finance) model is built on the principles of ‘reverse factoring.’ We first pay the bills on behalf of the shopkeepers to their suppliers, then the shopkeeper can conveniently repay us afterwards. Our business runs on the strength of trust, knowledge, skilful management, and high-level technology.
Most shopkeepers’ smartphones are underutilized by them due to unfamiliarity with technology. Our online support and local representatives assist in understanding, verification and onboarding of shopkeepers.
Bridge2Capital is further enabled by the digital initiatives of the Government of India such as GST, UPI, and Aadhaar.
Small businesses increasingly need to adapt to technology in order to survive in future economy especially in post Covid-19 world.
Xtracap India uses Bridge2Capital as a foot-in-the-door strategy to generate confidence in shopkeepers. While our Bridge2Pay portal allows shopkeepers to collect digital payments from their customers and deposit directly in their loan account. Our other user cases in the pipeline include: Bridge2Health that provides low-cost health & shop insurance cover; Bridge2Supplier that links the supplier ecosystem with existing shopkeepers; Bridge2Hissab that is an attempt to digitize the cash transactions of the shopkeeper between his customers and suppliers; and Bridge2Gold that helps shopkeepers do a systematic saving in digital gold.
All our services are directed towards making shopkeepers more efficient, effective and affluent.
Shopkeepers over time are realizing the power of user-friendly mobile technology, and are willing to pay us for our online app. We will continue enhancing our mobile application and provide more conveniences. We are also constantly developing efficient processes and generating reliable consumer data. This knowledge helps us to not only serve small businesses better but also provides value to banks and other financial institutions.
Xtracap India will grow its business digitally to all the major cities and towns of the country both organically and inorganically in partnership with like-minded players.
In three easy clicks, even a semi-digitally aware customer can use our Bridge2Capital app. We are transparent in our transactions and support ethical business practices. Our shopkeeper-centric approach ensures that our customers always get the best deal, and drive bigger profits. But don’t just take our word for it – visit our testimonials sections and hear how convenient Bridge2Capital has made small business owner's lives in their own voice.
Our product delivery is designed to ensure 100% loan utilization for the purpose of conducting business only. Our selected small business owners thus receive extended credit limits, and short term loans are disbursed to the suppliers against bills submitted by the borrower.
Our business model allows a deep level of engagement with the small business owners, a contributing factor as to why small businesses are willing to continue with our application. Shopkeepers engage with our app 18-20 times a month to do different activities, so we only expect this to increase in future on account of our new product offerings.
There is an undisputed need for supply chain financing in India’s retail sector and small businesses. This belief stands validated by the following facts:
India’s $600 billion retail industry is projected to grow to $1.30 trillion by 2024.
Unorganized sector constitutes 92% of retail which needs to be organized in order to meet future consumer expectations.
Supply chain financing is a powerful tool to improve India’s unorganized sector and respond successfully in a fast-changing global business environment. Bridge2Capital is our resolution.
Bridge2Capital is redefining how small business owners see their business. Hear how from they themselves.
Mobile Phones & Remittances
I have been in this business for 14 years and until now, I haven't seen my business grow this much! Bridge2Capital has excellent services...
I have seen my business grow at least 20% - 25% since I started availing Bridge2Capital's services...
Bridge2Capital has efficiently and significantly helped my business to deal with market slumps and inability to pay supplies...
Bridge2Capital has improved my business and has let me do it my way. I don't have to constantly worry about paying my suppliers all at once...
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Xtracap Fintech India Pvt Ltd (Bridge2Capital) has been chosen as one of the global winners of Inclusive Fintech 50 a program sponsored by Visa, MetLife Foundation, and Jersey Overseas Aid & Comic Relief , and with support from Accion and IFC - International Finance Corporation.
This blog, based on MSC’s three-phase study, explores the impact of COVID-19 on Indian FinTechs and various strategies that helped them survive and recover. It further provides recommendations for regulators and accelerators to support FinTechs holistically and sustainably.
Xtracap Fintech India has raised $1 million (Rs 7.56 crore) in an angel round of funding, the Gurugram-based startup announced on Wednesday.
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