TRIBETECH PRIVATE LIMITED
Status: Completed 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
Tribe is a FinTech company incubated by Intellecap and funded through Aavishkaar Venture Management Services, that offers a technology-enabled, online SME financing platform.
What is our funding objective?
During the first phase, Tribe will use FMO's grant as seed capital for on-lending to underserved SMEs via the Small Business Finance Catalyst Fund (SBFCF). The credit analysis of these SMEs will be based on an aggregate of online and offline data points. The aim of the grant funding is twofold: to show that the SMEs are creditworthy based on alternative online and offline data points, and to catalyze financing from other Financial Institutions (FIs) on the Tribe platform.
Why do we fund this investment?
We fund this project for several reasons: FMO's contribution is needed to start and proof the lending based on online and offline data points. This will allow Tribe to build a portfolio and to catalyze other FIs. The platform will bring valuable support to SMEs who are currently un- or underserved. The focus sectors (gender, agribusiness and energy) resonate well with FMO’s strategy as the involvement with Tribe provides FMO with the opportunity to build and expand our knowledge on fintech companies.
- Region
- Asia
- Country
- India
- Sector
- Financial Institutions
- Effective date
- 4/6/2017
- End date
- 6/19/2019
- Total FMO financing
- EUR 0.18 MLN
- Funding
- MASSIF