Clix Group ties up with Tezzract; plans to disburse Rs 1000 cr by FY23

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Clix Group (Clix Capital and Clix Finance) has entered into a strategic partnership with Tezzract to innovate and bring new-age solutions for lending to MSMEs in India.

Under this partnership, Clix aims to lend an additional INR1000 crore to MSMEs by the end of this year.

Through this partnership, both companies will build solutions to plug the significant challenges that MSMEs face in raising funding to grow and compete in an already difficult post-Covid environment. With the rising inflation and higher interest rate environment, this partnership aims to use significant data points to help small companies raise funds timely and at competitive rates.

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Commenting on the partnership, Rakesh Kaul, CEO of Clix Capital, said, “We’re glad to get into a strategic alliance with Tezzract Fintech Private Limited because of their cutting edge technology prowess. Together, we aim to disburse INR 1,000 crore to MSMEs in FY23. Tezzract is building proprietary technology that we can leverage to solve various needs of MSMEs through their evolution, helping maximize lifetime value benefits and reducing transactional costs for them.”

“The partnership will not be limited to only sourcing MSME customers for Clix but will work on jointly building co-origination and co-lending opportunities with banks and NBFCs,” the statement said.

In the next 15 months, Clix and Tezzract are targeting to make an MSME liability marketplace- where banks and other financial institutions can participate to pick up loan assets across secured and unsecured assets.

Speaking on the development, Shaily Maheshwari Kajaria and Vivek Raghavan, Co-Founders of Tezzract, said, “We are super excited for this long-term partnership where with Clix group’s significant strengths and our Tez agility we will create a powerful solution that will help build a sustainable AUM for Clix and other co-lenders.”

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“Under the CLIX-TEZ partnership, we have a product-agnostic – customer first thought process. No – Touch frictionless Tez tech along with Clix’s strong balance sheet support will enable our INDIA MSME CREDIT CLUB vision. At Tez – mind share and wallet share of customers are both equally important,” Kajaria added.

“The partnership will play an instrumental role in heralding innovation and revolutionizing the lending space through Clix Group’s differentiated digital lending products and Tezzract’s cutting-edge technology and deep analytics-driven approach. Both entities will work together to explore and build products to best cater to MSME as a category and further their purpose of serving the underserved needs of millions of Indian MSMEs,” the statement further added.

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

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