Cygnet.One and Ratnaafin launch MSME Invoice Financing at GFF 2024

By Gloria Methri

Cygnet.One has partnered with NBFC Ratnaafin to offer credit access to Micro, Small and Medium Enterprises (MSMEs) through invoice financing. This will be offered through Cygnet BridgeCash, an advanced platform designed to enable financial inclusivity for MSMEs.

With a 24-year legacy in compliance transformations and digital transactions, Cygnet.One already processes 15-19% of India’s e-invoices. Cygnet BridgeCash further combines technology and expertise to simplify credit access through anchor-based invoice financing.

As a non-banking financial company (NBFC), Ratnaafin is committed to empowering MSMEs across India with comprehensive financial offerings. From business, machinery, and working capital loans to loans against property, Ratnaafin provides the financial backbone that small and medium enterprises need to thrive.

In addition to traditional lending, the NBFC champions sustainable energy initiatives through its solar loan program and offers specialized solutions like supply chain finance. Focusing on quick approvals, competitive interest rates, and personalized financial services ensures that businesses and individuals can unlock growth opportunities and achieve their financial objectives efficiently.

Malav Desai, Director at Ratnaafin, shared his thoughts on the partnership, “Our collaboration with Cygnet.One is a significant step toward enhancing financial access for MSMEs. Combining Cygnet’s technological expertise with Ratnaafin’s deep understanding of MSME financing, we are poised to offer innovative solutions to empower businesses to thrive in today’s competitive landscape.”

“We are excited to build on our strong foundation in digital transactions with Cygnet BridgeCash and drive the future of financial access for businesses,” said Niraj Hutheesing, Founder and Managing Director of Cygnet.One.

The platform facilitates analytics through GST Business Intelligence in a consent-driven flow and leverages AI-driven Banking IDP analysis to assess creditworthiness. Lenders benefit from the ability to add custom underwriting rules on the pre-integrated platform or integrate their underwriting system. The API-first digital platform provides a seamless interface for sellers, buyers, and lenders to execute and monitor invoice financing effectively.