LivFin, one of India’s leading bespoke supply chain finance solution providers, won the prestigious title of ‘Startup of the Year’ in Financial Services at the Outlook Business Spotlight’s Business Icons Awards 2022. The event was organized by Outlook Business Spotlight on 25th Nov 2022 in Hyderabad to recognize and celebrate excellence in business innovation, creativity, and leadership. Professionals and leaders from different industries attended the event.
“Please see below some excerpts from our talk with them.”
Q1. Can you please tell us in brief about your company?
LivFin, a Delhi-based fintech NBFC, was established in late 2017 to provide supply chain financing, microloans, and working capital to MSMEs. LivFin works with mid-sized to large corporate (Anchors) to build structures to lend to their vendors as well as their distributors, dealers, and retailers on the other side. Manufacturers, distributors, and retailers may easily and digitally interact thanks to LivFin's customized unsecured loan offerings and end-to-end digital invoicing and payment solutions for Anchor's MSME eco-system. With a very short TAT, LivFin's tech-driven credit decision-making system, which incorporates alternative data sources, assists in offering financing options to under banked MSMEs. It uses the power of the Digital India Tech Stack through its technology platform, which digitally gathers data from sources and shortens the credit decision-making workflow by removing onerous paperwork. Additionally, it enables easy customer on-boarding, which lowers the cost of customer acquisition and maintenance. A model with fewer assets and fewer resources was developed by LivFin thanks to its technology-first philosophy and utilization of cloud services.
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The company has an Rs 320Cr loan book, Rs 80Cr equity capital, and a register of over 700 debtors. Since the program's beginning, loans have been disbursed totaling more than Rs 4,000Cr. The goal AUM for March 2023 is greater than Rs 675Cr, and LivFin's present AUM exceeds Rs 400Cr.
Q2. Tell us about the key person/s in the company. What are their role and responsibility in the company?
The Managing Director and CEO of LivFin is Rahul Chander, who has almost 35 years of experience in the financial services industry. He oversees the management team, which includes Harshad Malhotra, the Chief Business Officer having 20 years of banking experience, Pooja Sondhi, the Chief Operating Officer with 20 years of operations and IT experience, and Saurabh Srivastava, the Chief Risk Officer having 19 years of experience in financial services.
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Q3. Who are all your clients?
About 700 MSMEs that are either vendors, distributors, or retailers of mid-sized Indian corporates (Anchors) make up LivFin's clientele.
Q4. What is the goal of your company and how are you planning to achieve it? Also mention your achievements.
LivFin's objective is to reach as many MSMEs in India as possible, and to offer them unsecured financing and help them grow. This will assist them in shifting from borrowing expensive loans from the informal economy that are currently their sole choice. Though these sources are available to them without providing collateral, they are quite expensive and may not be available when most required. Their access to unsecured finance from LivFin solves their issue of not having enough collateral and aids in their business’s cost-effective growth. Over the next three to four years, LivFin hopes to establish an AUM of over Rs 4,500 crore. This will have a large multiplier effect.
Till now, over 700 MSMEs have benefited from LivFin's total disbursements of over Rs 4,000 crore and an AUM of over Rs 400 crore, which have helped them grow.
Q5. Please mention the Category in which you have been awarded.
We have been awarded as the Startup of the Year.
Q6. Is there anything else you would like to share with us?
