NOMISMA MOBILE SOLUTIONS PVT.LTD.
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Nomisma Mobile Solutions Private Limited (“FtCash”) is a fintech company based out of Mumbai. FtCash offers micro, small and medium sized (MSME) merchants payment solutions and access to financial services by underwriting loans based on digital payments data and collecting them from card payments (merchant cash advance model). The Company operates as a distributor of financial services and payments with an off-balance sheet model in partnership with financial service providers.
What is our funding objective?
The main funding objective is to support the loan growth of FtCash, assist the company to develop its institutional framework and hire new management team to manage growth volumes.
Why do we fund this investment?
FtCash focuses on “bottom of the pyramid” clients. FtCash provides loans to MSME entrepreneurs which are generally family run operations. It offers an innovative product tailored to its clients where the merchant cash advancement model allows for flexible repayments (daily / weekly), based on the payments flow. In India, the demand-supply mismatch for MSME finance is very high and FtCash is aiming to digitize its MSME clientele and enable them to participate in the formal economy.
What is the Environmental and Social categorization rationale?
FtCash is an E&S Risk C category client as 100% of its activities are used by MSME clients (traders, small manufacturers) who operate in the real economy with limited environmental impacts.
More investments
| Date | Total FMO financing |
|---|---|
| 5/27/2022 | INR 114.00 MLN |
| 4/8/2019 | INR 138.94 MLN |
| 10/4/2024 | USD 0.50 MLN |
- Region
- Asia
- Country
- India
- Sector
- Financial Institutions
- Effective date
- 6/30/2020
- Total FMO financing
- INR 174.99 MLN
- Funding
- Ventures Program Asia
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C