Matrix is happy to partner with one of the portfolio companies in identifying a suitable Finance Head to lead the function reporting to founders.
About The company: We are a Delhi NCR-based non-deposit-taking NBFC. With its headquarters in Gurugram (erstwhile ‘Gurgaon), we aim to serve a million MSMEs – Micro, Small, and Medium Enterprises in India in this decade! It is evident from many recent reports & surveys of industry bodies and research agencies that MSMEs have huge potential for the development and growth of the country by creating jobs and contributing to GDP growth by nourishing entrepreneurship. SMEs are responsible for over 28% of the GDP and almost 45% of the manufacturing units
The big opportunity: There are around 6.3 crore MSME units in the country that are the second largest employer in India after agriculture, with over 99% categorized as small units. Nearly 111 million people are involved directly in MSMEs and earning their livelihoods. The sector is responsible for more than 28% of GDP and almost 45% of industrial production. MSMEs are the engine of growth for the country, but we need to fuel the engine by providing sufficient financing because, without adequate finances, they cannot acquire or absorb new technologies, expand, or compete in global markets, or even build business relationships with larger firms.
It is noteworthy that only about a fifth of MSME’s credit requirements are met by banks and the remaining comes from informal sources. Most of the micro-enterprises depend on their promoter’s family and friends and the local moneylenders for their credit requirements. A large portion of the credit needs of the micro-enterprises remains unfulfilled. This fundamentally hampers the growth potential of the micro-enterprises. At our firm, this is where we aim to bring solutions to the table!
Focus for the company: While lending will be our primary activity, the focus will be to help the underserved, unserved entrepreneurs across the country with additional emphasis on people living in Tier II, III & IV cities. Rural populations have a high level of financial exclusion due to a lack of access to formal finance because of limited or no knowledge of the availability of easy loans without the need for collateral. The rural population is underserved due to operational reasons like limited financial service providers.
We will touch such customers who are workers, youngsters, and small entrepreneurs who do not have access to formal credit resulting in curtailment of growth or outright winding up of the business! We want to reach out to them and the Next Billion Indian entrepreneurs and help fulfil their dreams with our various flexible, progressive and superior loan products suitable to their needs with utmost satisfaction and transparency.
The Company has a diversified board and a Senior Management Team with rich professional experience across the BFSI industry and brings on board versatile experiences & valuable perspectives. Currently, we are catering 42 branches in 5 states – Haryana, Rajasthan, UP, Bihar, and Uttarakhand and will subsequently expand to Punjab, Himachal Pradesh, and other states.
Ideal Profile :
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