Friday, April 26, 2024
Outlook.com
Outlook India
Outlook Business

Credit

The collaboration to provide credit options for businesses in the HoReCa industry

The move is expected to increase the fintech firm's revenue and margins and allow it to offer longer-term personal loans with higher ticket sizes

Through this partnership, the riders working on the EVIFY platform will have access to withdraw a certain fixed percentage of their accrued salary every month in advance to meet their fund requirements

Start-up founders are in a Catch 22 situation—in the absence of credit history and adequate collateral, they are unable to get the first line of credit and yet require timely financing to keep up with the high operational costs