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Internovo Ventures Unveils Fintech Platform For MSMEs, Targets Onboarding 1 Lakh Merchants By FY26

Opportunity India Desk
Opportunity India Desk Dec 20 2023 - 2 min read
Internovo Ventures Unveils Fintech Platform For MSMEs, Targets Onboarding 1 Lakh Merchants By FY26
Internovo Ventures has integrated Indibook with its loan facilitation platform, Indirow, collaborating with numerous banks and NBFCs across India to provide affordable and sustainable finance to MSME customers.

Internovo Ventures, a collaboration between Interface Ventures and Novostack, has unveiled its cutting-edge fintech platform, Indibook, to streamline record-keeping, accounting, and lending for small businesses. Following the acquisition of Mera Cashier in February 2023, Internovo Ventures has undergone a comprehensive overhaul of the platform's UI/UX, functionality, and features, reintroducing it as Indibook. The platform, which currently has nearly 5,000 merchants, aims to onboard 1,00,000 more by FY26.

Indibook's primary objective is to simplify day-to-day record-keeping, converting traditional paper records into a well-organized digital format suitable for tasks such as tax filing and accessing affordable credit. Operating on a subscription-based model, the platform facilitates easy monitoring of credit extended to customers (udhaar) and offers features like payment reminders, vendor management, offer generation, and monthly reports. Business owners gain complete control over cash flows, enhancing credit recovery through early-trigger warnings and more.

Affordable Finance To MSMEs

According to Internovo Ventures, it has integrated Indibook with its loan facilitation platform, Indirow, collaborating with numerous banks and NBFCs across India to provide affordable and sustainable finance to MSME customers. Lenders are partnering with Indibook to offer transparency in credit disbursement and utilization to their loan customers.

Karan Desai, Co-Founder, Internovo Ventures said "We have designed Indibook to bring the transformative impact of fintech to the small merchants so that they can boost operational efficiency, payment processing, customer experience, and fuel growth. By streamlining and automating various routine transactions and customer relationship-driven functions, Indibook frees up time and resources for the business owner to focus on other aspects of his business.”

Seamless Business Transaction Sharing

“Our platform allows merchants to create and seamlessly share their business transaction records with their banks and other financiers to avail of loans as and when needed. This fills a very important gap for small merchants in particular who don’t have a lot of transaction history in their bank accounts," Desai added.

Akshay Srivastava, Co-Founder and Lead Technology at Internovo Ventures, emphasized that Indibook is more than a platform; it's a strategic tool empowering small businesses in a dynamic market.

“Our aim is to simplify record-keeping processes, enhance financial control, and ultimately contribute to the success of entrepreneurs. Indibook is an initiative from our side to contribute to the entire Digital India initiative and empower small business owners to compete and thrive in an increasingly complex environment," he said.

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