An enabler for SME funding in India, Indifi Technologies has allied with Travel Boutique Online (popularly known as TBO), in a bid to enhance businesses for travel agents.
The association will benefit the travel agents with enough working capital to scale their businesses through financial limitations. This mutually benefitting alliance provides the travel agents with the right amount of finances, supporting them to conduct more business.
Adding insights to the partnership, Co-founder and CEO, Ankush said, "While airlines have moved to a weekly payment settlement cycle, corporate customers continue to work on credit with travel agents, thereby creating a working capital gap for travel agents. Our partnership with Indifi allows us to bring a solution for our travel agent network."
"Although the last few years have witnessed a significant amount of investment in startups and SMEs in India, many investors and lenders have not been able to provide working capital solutions due to lack of credible data. By bringing in the transaction behavior of travel agents, we enable lenders to effectively address this segment," added Co-founder and CEO, Indifi Technologies, Alok Mittal.
One of the earliest adopters of the facility, Rajiv Verma said that the product launched by Indifi is very relevant for the people in this industry and will help competitive interest rates. The flexibility of the credit line product will work much better for this segment in comparison to term loan offered by most banks and NBFCs."
The tie-up is meant to counter shortcomings of the industry. Furthermore, in terms of credit assessment, a reliable analysis of the travel agent's earnings has never been factored in credit decision making process.
However, this association will allow a proper analysis of the earnings of the agents to make a comprehensive credit decision.
