With the aim of helping entrepreneurs realize their dreams, Kinara Capital is one of the leading collateral-free MSME loan providers in India. The company disburses flexible loans of up to ₹ 30 lakh to small business owners in under 24 hours with its myKinara app. The entire process is digitally managed in multiple regional languages with minimum documentation in 3 easy steps. Kinara Capital provides working capital and asset purchase loans to business owners, and women entrepreneurs receive an upfront, automatic discount with the company’s exclusive HerVikas program.
With its dedication to driving financial inclusion for small business owners, Kinara Capital has been able to impact over 1 million lives while transforming local economies in India. The direct impact of Kinara’s work has led to over ₹ 700 crores+ in incremental income generation for small business entrepreneurs, and sustained or created more than 2,50,000 jobs. The company’s 110 branches across 90+ cities in six states in India have served 40,000+ MSMEs and disbursed loans worth over ₹ 2,500 crores.
An area of concern for Kinara was the long-drawn tech integration exercise and rigorous due diligence process when trying to access funds through a co-lending partnership to meet their capital requirements. Yubi’s Co-lend marketplace came across as a saviour for them that eased their operational hurdles and catapulted Kinara Capital towards success.
Here is a quick round-up of the top challenges that were hampering growth at Kinara Capital:
- For a capital-intensive organization like Kinara Capital, sourcing funds from the right lenders at suitable rates was a mammoth challenge.
- Aligning with suitable lenders regarding regulatory frameworks like KYC, SOPs, disbursement, and product & credit policies was another time-consuming process.
- Finding lenders and scaling the number of partnerships within stipulated time was a hassle.
- Every time the company got into a strategic partnership with a lender, they would have to complete one-on-one integrations, increasing overall integration time.
Kinara Capital was looking for an all-in-one co-lending marketplace that solved all these woes and helped them increase their lender partnerships. This was when Yubi came into the picture.
Onboarding Yubi was a wise decision that management at Kinara undertook that helped them quickly release the operational bottlenecks in financing and focus on core business.
- Yubi’s YubiCo.lend helped the team at Kinara Capital get access to a common workflow and a customized dashboard with a unified user interface.
- Yubi onboarded Kinara Capital with one-time integration, eliminating the need of completing one-on-one integration each time a partnership was forged.
- Yubi’s credit rule engine helped the company enable profiling and segmenting customers for loan products.
- The credit rule engine also enabled instant updation facility for the co-lenders to reflect any policy changes or change in credit parameters at Kinara.
With access to Yubi’s tech-forward marketplace, Kinara Capital recorded measurable improvement in their efficiency and business process.
- Upon quick onboarding, Kinara Capital was exposed to a vast pool of lenders on the Yubi marketplace that allowed them greater access to qualified and verified lenders they could connect with.
- Kinara Capital got the freedom to align with lenders that best suited their requirements that also allowed them the flexibility to broker better deals and rates.
- The company could switch between multiple lending partners without the end-customer facing any impact.
- With changes in Kinara Capital’s credit policy reflected in the co-lender’s credit policy, the co-lenders saved time and effort in conveying and effecting such changes. This enabled them to reduce TAT for deal finalization and disbursement significantly.
- After onboarding YubiCo.lend, Kinara Capital has disbursed loans worth Rs 125+ crore via multiple lenders in the last one year.
- A total of 2,500+ loans have been disbursed over the last year by the company.
While our customers already speak highly of the platform, we are innovating every day to enhance their experience multifold via technology.