5 Companies Empowering MSMEs in India to thrive and scale

MSMEs (Micro, Small, and Medium Enterprises) are the backbone of India’s economy, contributing significantly to employment and GDP.

Recognizing their importance, the government has introduced various initiatives to support them with Pradhan Mantri MUDRA Yojana (PMMY), MSME Udyam Registration, Credit Guarantee Scheme, Stand-up India, Emergency Credit Line Guarantee Scheme (ECLGS) and the Prime Minister’s Employment Generation Programme (PMEGP) to support their growth.

However, beyond government efforts, private companies are also playing a crucial role in empowering MSMEs with access to finance, market access, digital tools, and business solutions.

Here are trailblazing companies transforming the way MSMEs operate:

Meesho

Meesho is the fastest-growing internet commerce company. Their vision is to enable small businesses in India, including individual entrepreneurs, to succeed online.

Their emphasis is to democratise internet commerce by bringing a range of products & new customers online. Meesho filters products for customers using AI and data. They use AI for product recommendation, product ranking, making listing easy for sellers, suggesting price points to sellers, etc.

Kinara Capital

Kinara Capital is a fast-growing NBFC-fintech company driving financial inclusion for MSMEs in India. The genesis of Kinara Capital stems from its mission to democratize access to formal capital for MSMEs and enable them to unlock their true potential.

By leveraging AI/ML through myKinara App, Kinara enables entrepreneurs to check their loan eligibility within one minute and apply for a loan, making the process convenient and accessible.

Kinara provides MSMEs with collateral-free business loans within 24 hours. Kinara has disbursed more than INR 8,200 crore across 1,53,500 loans and sustained jobs in local economies. 

Haqdarshak

Haqdarshak is a social enterprise that uses technology to enable identification of eligible government welfare programs based on socio-economic profile information of individuals and businesses. Its agent network further provides support services to end users to avail benefits from such programs.

Haqdarshak has an assisted-tech model wherein a mobile app is used by field agents to improve awareness about welfare programs and increase entitlement uptake in the community while earning a livelihood in this process.

Khatabook

Khatabook is India’s fastest-growing Financial Services + SaaS company that enables MSMEs to increase efficiency and profitability through safe and secure digital solutions.

Besides the flagship Khatabook app, the startup also has Biz Analyst by Khatabook. Founded in January 2019, Khatabook is available in multiple languages and has 10 Mn+ monthly active users on its platforms.

Shiprocket

Shiprocket is one of the largest eCommerce enablement platforms on a mission to empower the businesses of Bharat to scale their ventures by unleashing the true power of eCommerce.

The platform helps the sellers at every step of their eCommerce journey, creating an operating system for direct commerce.

Their stack of tech integrations enables shipping, fulfillment, customer communication and marketing tools as well as providers for SMEs, D2C retailers, and social commerce retailers in India.

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