StrideOne focuses on providing financial services, including credit, to MSMEs and supply chain partners for startups. The firm also holds a non-banking finance company (NBFC) license, which allows it to disburse loans. The ticket size for individual borrowing on its platform can range from nearly USD 128 to as high as USD 258,000.
Within its six months of operations, StrideOne has made its first acquisition, EzCred, a five-year-old consumer lending platform. Financial details of the deal were not disclosed. The fintech company has plans to make other acquisitions in 2022.
Following the fundraising, StrideOne hopes to further amplify the number of borrowers from the current 1,000 in the near future. The company is also aiming to increase its headcount in the next three quarters. Other near-term objectives include strengthening product capabilities, onboarding more new companies, and further exploring inorganic growth routes.
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