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.”