Clix Group (Clix Capital and Clix Finance), a non-banking financial services group with a strong pan-India presence, has entered into a strategic partnership with Tezzract Fintech Private Limited, to innovate and bring new age solutions for lending to MSMEs in India. Under this partnership Clix aims to lend an additional INR 1000 crore to MSMEs by the end of this year.
Through this partnership, both companies will build solutions to plug the significant challenges that MSMEs face in raising funding to grow and compete in an already difficult post-Covid environment. With the rising inflation and higher interest rate environment, this partnership aims to use significant data points to help small companies raise funds timely and at competitive rates.
Rakesh Kaul, CEO, Clix Capital, expressing his thoughts on the collaboration, commented, “We’re glad to get into a strategic alliance with Tezzract Fintech Private Limited because of their cutting edge technology prowess. Together, we aim to disburse INR 1,000 crore to MSMEs in FY23. Tezzract is building proprietary technology that we can leverage to solve various needs of MSMEs through their evolution, helping maximize lifetime value benefits and reducing transactional costs for them.”
Shaily Maheshwari Kajaria and Vivek Raghavan, Co-Founders, Tezzract said, “We are super excited for this long-term partnership where, with Clix group’s significant strengths and our Tez agility we will create a powerful solution that will help build a sustainable AUM for Clix and other co-lenders. Under the CLIX-TEZ partnership we have a product-agnostic – customer first thought process. No – Touch frictionless Tez tech along with Clix’s strong balance sheet support will enable our INDIA MSME CREDIT CLUB vision. At Tez – mind share and wallet share of customers are both equally important.”