Project detail - TRIBETECH PRIVATE LIMITED

TRIBETECH PRIVATE LIMITED

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Who is our client

Tribe is a FinTech company incubated by Intellecap and funded through Aavishkaar Venture Management Services, that offers a technology-enabled, online SME financing platform.

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 we fund this project

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
Signing date
4/6/2017
Total FMO financing
EUR 0.18 MLN
Fund
MASSIF
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)