Business

121 Finance goes live on OCEN enabled GeM Sahay

Jaipur (Rajasthan) [India], October 27: 121 Finance, an RBI registered NBFC, focused on Short Term Working Capital Finance, has become one of the first lenders on GeM SAHAY and hence one of the earliest adopters of OCEN (Open Credit Enablement Network). This Government e-Marketplace SAHAY initiative brings a complete financing solution for sole proprietors to avail instant, frictionless financing to help fulfil government orders. With this, 121 Finance joins ICICI Bank and UGRO capital on this platform.

121 Finance has built a proprietary technology stack that can provide end-to-end digital loans as low as Re.1. Passionate about Working Capital Management, Dr Ravi Modani founded 121 Finance, now present in 86 cities across the country. 121 Finance offers various innovative products ranging from Invoice Discounting to Factoring; Purchase Finance to Credit Coverage solutions like 121 Smart Credit as Channel Finance from Distributors to Dealers.

GeM Sahay opens up a multibillion-dollar opportunity with almost 50 lakh products, a transaction value of Rs.147,000 crores, and 29 lakh registered suppliers. “Going live on GeM Sahay also opens a huge opportunity to act as co-lending partners and tech-enabled lending partners to various banks. Being able to disburse a loan in less than 10 minutes of the application being made is a showcase of the technical competence, agility, maturity, and disruption in Trade Finance with innovative, customised solutions. 121 Finance uses its own proprietary algorithm named RACE(™), which is based on machine learning to enhance the deliverables and also underwrite risk, without the involvement of human emotion.”, says Dr. Ravi Modani, Founder & CEO, 121 Finance.

Shri Prashant Kumar Singh, CEO Government eMarketplace, says, “It is great to have 121 Finance onboard to provide cash flow based loans. Purchase order financing will help MSMEs accept larger purchase orders and hence provide a boost to economic activity.”

37 Replies to “121 Finance goes live on OCEN enabled GeM Sahay

  1. Your writing is perfect and complete. casinocommunity However, I think it will be more wonderful if your post includes additional topics that I am thinking of. I have a lot of posts on my site similar to your topic. Would you like to visit once?

  2. Hello, you used to write fantastic, but the last few posts have been kinda boring?K I miss your great writings. Past several posts are just a little bit out of track! come on!

  3. An impressive share, I just given this onto a colleague who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If possible, as you become expertise, would you mind updating your blog with more details? It is highly helpful for me. Big thumb up for this blog post!

  4. Hey very cool site!! Guy .. Beautiful .. Amazing .. I will bookmark your blog and take the feeds also?KI am happy to search out numerous useful information here within the submit, we need work out more strategies on this regard, thank you for sharing. . . . . .

  5. Some are medicines that help people when doctors prescribe. Some are medicines that help people when doctors prescribe.
    https://stromectolst.com/# buy ivermectin uk
    drug information and news for professionals and consumers. safe and effective drugs are available.

Leave a Reply

Your email address will not be published.