KOZHIKODE:
B2B2B supply-chain financing platform KredFlo has been selected to join the prestigious Wave 6 Cohort of the Qatar Fintech Hub (QFTH), making Kozhikode-based Splendre EyeMag Private Limited a key player on the global fintech landscape with focus on manufacturer-led distributor financing.
The selection under QFTH, which is a programme facilitated by Qatar Development Bank (QDB) and backed by Qatar Central Bank (QCB) and the Qatar Financial Centre (QFC), will help Splendre gain access to mentorship, networking opportunities and a thriving ecosystem of fintech innovators.
The programme offers a pre-seed capital investment, banking partnerships and market access, accelerating Splendre’s growth and helping it expand its footprint in the MENA (Middle East and North Africa) region.
The 2017-founded Splendre was incubated at IIMKLive and supported by Kerala Startup Mission (KSUM), which is the nodal agency for entrepreneurship development and incubation activities in the state. The company began working on the innovative fintech product at the start of this year.
The startup’s founder-CEO Axel Balakrishnan described the association with QFTH as an opportunity for the company to collaborate with leading financial institutions in the region. “It will enable us to leverage the infrastructure provided by QDB, QCB and QFC to scale our solutions,” he noted.
Added Splendre founder-COO Anil Balan: “Being part of the QFTH allows us to establish critical partnerships with Qatari banks and financial institutions.”
KredFlo, which specializes in manufacturer-led distributor/retailer financing that empowers manufacturers to strengthen its distribution network, is set to transform the way financial services are delivered, creating seamless and accessible solutions for financial institutions and businesses. It offers automated payments, dedicated credit lines and business financial profiling, complying with finance principles.
The fintech startup offers supply-chain financing to small and medium businesses. With a vision to address the significant credit gap in the Qatari market, KredFLo is dedicated to reshaping the financial services landscape in the distribution network by enhancing credit access for underserved businesses.
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