Bizom, Accion and Mastercard to boost business for small retailers

By Gloria Mathias

Bizom, a retail intelligence platform in India, has collaborated with global nonprofit Accion and the Mastercard Center for Inclusive Growth, the philanthropic arm of Mastercard, to expand its digital Consumer Packaged Goods (CPGs) marketplace.

The collaboration seeks to serve 4 million+ small retailers through embedded credit offerings to grow their businesses. India has more than 63 million micro, small, and medium enterprises (MSMEs), including 13 million Kirana stores (small grocery shops) selling CPGs, which represent nearly 75% of the country’s consumer goods market.

The CPG retail market is characterised by a vast network of MSMEs, with small retailers and distributors facing numerous challenges, including supply chain disruptions, inefficient inventory management, delays in payments against procurement, and lack of access to financial services that can help them overcome recurring capital requirements. The credit gap in the MSME industry in India is estimated at approximately $230 billion.

“We at Bizom believe in the future of retail where mom-and-pop shops are digitally empowered to serve consumers who are going online,” said Lalit Bhise, CEO of Bizom. “Our partnership with Accion is helping speed up our reach to these millions of retailers by clearly defining the need and enabling the right go-to-market channels.”

Accion has worked alongside local partners around the world, providing investment and advisory services to develop and scale responsible financial solutions for small business owners. Accion Advisory will provide strategic consultancy support to help Bizom expand its network of retailers and distributors using Distiman, Bizom’s retailer app, and develop scalable and cost-effective credit offerings to allow small retailers to access formal financial services at reduced costs to purchase inventory and meet their working capital requirements.

This initiative is part of Accion’s ongoing partnership with the Mastercard Center for Inclusive Growth. It aims to help over 10.5 million people, including women entrepreneurs, actively use digital financial services to improve their financial health by 2026.

“India’s micro and small retailers play a vital role in generating employment and furthering economic growth. That’s why it’s important that they are equipped with the right digital tools and solutions that help them overcome operational hurdles and record business growth. This collaboration underscores Mastercard’s long-standing commitment to supporting this segment with digital adoption and credit access,” said Vikas Varma, Chief Operating Officer of South Asia at Mastercard.