Digital lender HAPPY announces nationwide ‘Bhagidari’ Campaign for festive season

Mumbai, October 22, 2019: With its vision to drive superior consumption this festive season across India, Digital lender HAPPY has announced the launch of its ‘Bhagidari’ campaign. The campaign started during Navratri and involves end-to-end credit facilitation to microenterprises and will go on till the end of festive season ultimately, becoming a Bhagidaar in their business expansion as well as the ongoing festive celebrations.

Manish Khera Founder & CEO Happy
Manish Khera Founder & CEO Happy

As part of the Bhagidari campaign, the Happy will empower merchants with superior credit extension. So, be it for stock purchase during the festive season, jewellery procurement, shop or home renovation or anything else, HAPPY envisions to become a complete Bhagidaar for everything. This credit extension will be irrespective of the merchant’s requirement. However, there will be certain checks and balances in place to prevent fraud or deceitful practices.

Speaking on the development, Manish Khera, Founder, Happy said, “Our overarching objective has always been in addressing the credit void that persists in the MSME sector, especially its ‘micro’ segment. The Bhagidaari campaign is perfectly in line with this objective and has been launched with a view to unlock superior financial capital for all Indian microenterprises. The campaign has a traction beyond compare and we are assertive that this trend will continue till the festive season concludes.”

The digital lender provides credit via its channel partners (such as remittance players and POS aggregators) and will be using its channel network to drive the campaign.


HAPPY forays into food-tech lending in partnership with Swiggy

Mumbai (Maharashtra) [India], March 26 (ANI/PRNewswire): The fast-growing online food market in India which, as per a report by Google and Boston Consulting Group, is expected to touch USD 7.5-8 billion at 25-30 per cent CAGR by 2022, gives testimony to the fact that India loves its food.

While food tech aggregators are riding on the wave of rapid digitization, favourable consumer disposition and increased penetration in smaller cities, many small restaurants are boosting their growth like no other.

As per a 2019 report, India’s food services market is estimated at Rs 4.24 trillion. 65 per cent of India’s food services market comprises unorganized or unregulated joints; most of whom do not have access to formal sources of credit. And that’s where digital lending fintech HAPPY has stepped in to help.

In the current pandemic-led situation, small scale restaurants that live on a day-to-day cash flow basis have been the worst hit, and are struggling to meet the costs of their rent and staff. HAPPY’s foray into the food-tech sector, in partnership with India’s leading online food delivery platform Swiggy, could not have come at a better time.

HAPPY offers small-scale restaurants with short-term, small-ticket and easy-to-repay loans. Already a market leader, HAPPY addresses the needs of small and micro-businesses in India, a segment underserved by traditional financial institutions. Through the Swiggy Capital Assist program, HAPPY will extend this capability to thousands of Swiggy partner restaurants across all major cities through its completely digital and paperless lending model.

“Our objective is to enable small-scale restaurants to get quick access to credit to meet their growth and working capital needs. Especially when these businesses have been hit by the pandemic-led slowdown, this facility will aid their recovery and help them stay afloat in the current times,” said Manish Khera, Founder & CEO, HAPPY.

HAPPY leverages machine learning-based model to instantly underwrite loans to interested restaurateurs based on their past sales performance among other data points. The technological edge, combined with the unique product, will make this partnership a one-stop destination for small and medium-scale restaurants to achieve their business dreams.

HAPPY’s lending partner is ARTH, a new-age finance venture that aims to redefine the way micro-enterprises discover financial services by creating an enabling ecosystem built on advanced technology, data and deep customer connect.

This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)


HAPPY launches Lockdown Loans for MSMEs

NEW DELHI: The global Coronavirus outbreak has impacted about one-fourth of India’s 69 million MSMEs at present. To help the affected microenterprises , HAPPY, an ML-based MSME digital Lender has launched a ‘Lockdown Loan‘.

The digital credit facility is developed to address the working capital woes of Indian microenterprises during the lockdown period. It will provide them capital access of Rs 25,000 and Rs 50,000 with bullet repayment after 6 months. The Lockdown Loan comes with COVID-19 protection insurance, wherein full loan waiver is extended to the coronavirus infected.

The digital lending platform interacted with nearly 300 MSMEs via a survey to understand their sentiments and painpoints. The Lockdown Loan was designed and developed on the basis of the survey results to empower the micro-entrepreneurs during these difficult times.

Manish Khera, Founder & CEO, HAPPY said in a statement, “The COVID-19 outbreak has deeply impacted the cash flow of all big and small businesses. Perhaps, the economic shockwaves have been felt the most by micro &smaller businesses and they are in urgent need of financial assistance. We spoke to over 300 such MSMEs to understand their immediate financial & health needs. Basis the feedback we quickly tuned around to design Lockdown Loan with full insurance cover against COVID.”

Fintech-based Lending Can Help MSMEs Bounce Back.

Fintech-based Lending Can Help MSMEs Bounce Back.

Fintech-based Lending Can Help MSMEs Bounce Back.
Emergence of Remittance Companies

MSMEs are considered the central engine driving the Indian economy. Prominent players in their constitution are the Kirana stores and neighbourhood mom-and-pop shops visited by all and sundry. Apart from the usual product offerings which is groceries, medical supplies, phone recharges etc., many of these stores also offer remittance services in exchange for a small commission fee. For the working class and the unorganised sectors, this method of wiring money is preferable to visiting a bank since these stores are operational for longer hours and the transaction is paperless.

With 3 cr. (approx.) Jan Dhan bank accounts, Kirana stores became an ultimate choice for the migrants across the country. Their business model requires sufficient working capital to grow their remittance business, however they continue to struggle in search of formal credit assistance to address their liquidity crunch.

This credit gap is being tackled by digital lending companies who are providing unsecured loans and are conscious of the challenges faced by small business owners.

Fintech lending as a driver of change

With advent of fully digitised loan options, fintech firms are emerging as innovative credit disruptors. Ranging from short-ticket loans to merchant cash advances, these loans have flexible repayment tenures that are cognizant of the limitations faced by the unorganised sector.

The usual barriers that restrict the small businesses from availing a formal credit are insufficient/no collaterals, high cost of servicing small loans and absence of credit score. Prospective borrowers are assessed on their business performance using algorithms and machine learning. With no dependency on physical data entry, fintech firms can eliminate the pitfalls created by bias, prejudice and human error.

During the coronavirus crisis, financial strength is key

Over millions of merchants have been left with heavy overheads and crippled earnings due to the pandemic. Small businesses are cash-strapped and require working capital to restart operations. At this juncture, fintech firms like HAPPY are looking to make credit access more inclusive and approachable. Founded by Mr. Manish Khera in 2017, this fully digital lending firm has serviced enterprises dealing with remittance payments, farming, dairy, food and beverages, PoS transaction etc.

Intending to empower these businesses in the current crisis, and after surveying close to 300 MSMEs, Happy has responded with the ‘Lockdown Loan’. It’s a unique concept that provides small business owners access to working capital without the burden of immediate repayment.

These are bullet loans of Rs 25,000 and Rs 50,000 that can be repaid after 6 months. Empathy is at the core of this product, which is why the Lockdown Loan comes with COVID-19 insurance. In case the small business owner test positive for the novel coronavirus, the entire loan will be waived off.

The road ahead

Small businesses contributed 29% to India’s GDP last year. As the government looks to increase this share to a strong 50%, fintech firms like Happy strive to span the gap between policymaking and the final disbursement of funds to small business owners across India.

Protecting your small business against lending fraud: Signs to watch out for

Protecting your small business against lending fraud: Signs to watch out for

The coronavirus pandemic and lockdown has put small businesses in a tight spot. Desperate for working capital, many are reaching out to lenders without checking their credentials leading to a spike in online frauds, as fraudsters are exploiting the rising demand for quick loans.

Protecting your small business against lending fraud: Signs to watch out for

According to RBI data, loan frauds made up the highest percentage of all frauds in FY 2018-19. So, small businesses must be cautious and avail loans only from legitimate lenders to avoid falling prey to scams.

Loan scams that you should be aware of

Moratorium – Fraudsters are currently capitalizing on the 3-month moratorium granted by the RBI, to help ease the loan burden on consumers. This has given scammers the perfect opportunity to defraud customers. 

They call up posing as bank officials and ask for the borrower’s bank details, OTP etc., assuring them that their EMI would be postponed. 

Loans from third parties – Calls are made by fraudsters offering loans from third parties in return for upfront payments. Desperate customers whose applications have been rejected by several lenders fall prey to scams like these and are made to pay money for application and processing fees, for promised loan approvals.

Guaranteed loan approval – Scammers guarantee loans with no eligibility criteria and offer a credit score check, in exchange for a fee. 

Fake sites – Fake internet lending sites, imitating the interface of well-known brands and NBFCs are created, and then circulated through social media networks. Borrowers, looking for quick loans, fall for these baits, failing to differentiate between real and fake. Customers fill their details on these sites, which are maliciously used by fraudsters. Calls are then made to the customers to extract sensitive financial information, which is used to rob them of their hard-earned money.

Phishing – 

Urgent need for loans forces borrowers to click on emails and text messages offering instant loans. Victims are lured to divulge their banking passwords and credit card details, and end up losing money. 

Vishing (Voice phishing) – Scammers call, pretending to represent reputable lenders and collect personal financial details. Victims are promised pre-approved loans exceeding INR 5 lakhs, with just a few bank account details needed to sanction the loan. Customers are asked to maintain a certain account balance for smooth EMI payments, once the loan is sanctioned. And before you know it, your bank account gets wiped out. 

Cheap loans – Scammers call borrowers, promising cheap loans, and give out details on other loans availed by them. Often, unscrupulous employees of reputed financial institutions offer this information to scammers to make quick money. Borrowers pay the upfront fees for loans and never get the approval. 

Tips to stay safe from loan scams

Here are some easy tips you should follow to keep your money safe during the ongoing crisis: 

  • Check the domain name of the lender’s website and ensure that the URL has ‘https’ and a lock icon. A legitimate lender has an encrypted online loan application page. 
  • Never click on suspicious emails or part with sensitive banking details to anyone over a phone call. Reputed lenders always check eligibility and credit score before offering you a loan. Also, entities like Happy, a fast growing fully digital lending fintech, collect PAN card details, driving license and bank account details only as identity and address proofs. Sensitive data is never shared with third parties.
  • Currently, fraudsters are exploiting tight liquidity conditions caused due to the pandemic, to prey on small businesses. As a solution, Happy has launched a completely reliable lockdown loan for small businesses which has to be repaid after 6 months. In the unfortunate event of the owner getting diagnosed with COVID-19 during the loan tenure, the entire loan is waived off. Happy leverages AI and machine learning along with strict protocols, to offer instant, low ticket unsecured loans to small businesses. So, consider the same if you need immediate funding. 


Genuine lenders always have a transparent loan application process. Loan processing fees are mentioned in the loan agreement and deducted from the total loan amount, and not as upfront charges. Loans are approved only after checking your eligibility and credit score. So, if a lender doesn’t disclose details of the loan application and appraisal, reject them immediately to prevent frauds.