One of the leading Indian Financial Institutions, Mahindra Finance, is looking to evaluate innovative fintech solutions for its SME financing business through an innovation challenge. Fintech firms may respond to the challenge with an implementable solution aligned to any of the 3 SME-focused categories explained in the subsequent links to the challenge. The aim of the challenge for Mahindra Finance is to assess the solutions and execute proof of concept with the promising ones.
Since 2011, Mahindra Finance is providing customized lending solutions to MSME's through its Business Enterprise and Retail Enterprise verticals. The product portfolio for Business Enterprise comprises of Working Capital Loans, Bill Discounting, Pre-shipment Finance, Term Loans, and Equipment Loans for customers in Auto ancillary, Light Engg, Agro and Food Processing sectors while the Retail Enterprise provides Secured Business Loans, Equipment Loans to smaller enterprises with a turnover of less than INR 20 Cr which typically are Proprietor driven/ Partnership firms