INNOVITI PAYMENT SOLUTIONS PRIVATE
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
Established in 2003, Innoviti Payment Solutions (“Innoviti”) is one of the leading payment solution providers in India enabling in-store payment acceptance for 20,000+ merchants across 300 cities and towns. Innoviti does this while facilitating access to finance for micro-consumers and MSME’s.
What is our funding objective?
Innoviti enables access to short-term finance for both consumers and retailers. Innoviti combines its payment channels and data to create transactions which leads to better use-cases and retention of consumers, merchants, lenders and banks on their platform.
Why do we fund this investment?
Innoviti’s fintech solution designed for (M)SME clients fits FMO’s strategy of catalysing economic growth and bridging the digital divide. With around 63.4 million units throughout the country, MSMEs contribute around 31% of the GDP as well as 33.4% of India's manufacturing output.
What is the Environmental and Social categorization rationale?
Innoviti is a category C client in terms of E&S: the company is not active in high risk sectors, it does not do project finance and the average exposure per client is below USD 25,000. Innoviti is not regulated in India. However, its internal policies and risk management framework are well developed.
More investments
| Date | Total FMO financing |
|---|---|
| 3/25/2022 | USD 5.00 MLN |
| 3/25/2022 | USD 5.00 MLN |
| 5/27/2020 | INR 225.00 MLN |
- Region
- Asia
- Country
- India
- Sector
- Financial Institutions
- Effective date
- 9/22/2020
- Total FMO financing
- INR 182.95 MLN
- Funding
- FMO NV
-
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