Ftcash

Ftcash, operating under the legal name Nomisma Mobile Solutions Pvt Ltd, is a financial technology firm established in 2015 with a focus on India's underserved micro-merchants and small to medium-sized enterprises (SMEs). The company was founded by Sanjeev Chandak, Deepak Kothari, and Vaibhav Lodha. The founders brought diverse and relevant experience to the venture; Chandak's background at Deutsche Bank and Capital One inspired the focus on MSMEs, Lodha had previously worked at organizations like The World Bank, and Kothari had experience in financial services consulting.

The firm's primary business involves a dual offering of digital payment processing and providing access to credit. Initially, ftcash created an open-architecture platform allowing merchants to accept a wide array of digital payments—including credit cards, debit cards, UPI, and mobile wallets—without needing extra hardware, enabling onboarding in under five minutes. This payment facilitation laid the groundwork for its expansion into lending. The business model does not involve lending from its own books; instead, it partners with non-banking financial companies (NBFCs) and other lenders. Ftcash acts as a technology and service platform, handling sourcing, due diligence, and borrower evaluation.

A core component of its service is a proprietary algorithm that analyzes transaction data and alternative data points to assess the creditworthiness of potential borrowers, who are often overlooked by traditional financial institutions. The company offers unsecured working capital loans with ticket sizes ranging from ₹30,000 to ₹6 lakh. Repayments are structured to align with the merchant's digital cash flows, with automated deductions from their accounts, which helps maintain low delinquency rates. Revenue is generated through commissions on transactions and its lending activities.

Since its inception, ftcash has secured significant backing from notable investors. It was incubated by PayPal and has received investments from Accion, Dutch development bank FMO, IvyCap Ventures, and 500 Global, among others. The company has raised a total of $16.1 million over seven funding rounds, with its latest Series A round occurring in July 2024. Headquartered in Mumbai, ftcash has expanded its services across multiple Indian states, serving over 60,000 merchants and disbursing substantial loan amounts.

Keywords: micro-lending, SME financing, digital payments, financial inclusion, merchant cash advance, working capital loans, fintech India, MSME loans, payment processing, credit assessment algorithm, NBFC partnership, small business loans, point of sale credit, digital lending, merchant services, unsecured business loans, B2B fintech, retail finance, credit scoring, financial technology