Kapital Connection Officially Launched in India by Kapital Connection India Private Limited
The MSME segment is crucial to the Indian economy. There are 55.8 million enterprises, employing close to 124 million people, and contributing 31% of Indias GDP and 45% of exports according to International Finance Corporation (IFC). However, only 16% of MSMEs financing needs are funded by formal lenders, such as banks, non-bank financial companies (NBFC), credit cooperatives, while the rest are funded by informal channels, such as friends and families, resulting in a funding gap of US$397 billion.
Using proprietary technology in Artificial Intelligence, Machine Learning and Blockchain, the company aims to empower MSMEs while accelerating the digital transformation of financial institutions by connecting MSMEs and financial institutions to secure financing through digital marketplace. With one online application, MSMEs have access to many financial institutions in the same platform to secure different funding needs effectively. On the other hand, financial institutions are able to provide customized financing solutions based on MSME needs through a transparent and automatic process.
Making financing simple and affordable for MSMEs has been the companys mission. MSMEs are the lifeblood of the economy, and traditionally they have not been able to access financing easily due to many reasons, said Ranjit Singh, co-founder and India CEO. We see it as our responsibility to resolve this challenge for MSMEs through our domain expertise and technology, and we are proud to launch the platform during this critical time to help MSMEs navigate through the Covid-19 pandemic.
With its global headquarters in Singapore, Kapital Connection combines extensive international experience with local knowledge to serve Indian business communities. We are honored to be in India and to bring in our expertise and resources, said James Wong, co-founder and Global CEO. We see it as our mission to support MSMEs to realize their full potential in this dynamic country called India. For more information on Kapital Connection, visit www.kaptialconnection.com and find Kapital Connection on LinkedIn, Twitter and YouTube.
About Kapital Connection India Private Limited: Kapital Connection is a company headquartered in Singapore with subsidiary based in Bangalore, India. Kapital Connection operates a digital marketplace and provides allied services to financial consultancy, bringing secure, transparent, cost-effective and inclusive financial services to micro, small and medium-sized enterprises.