Invoice Bazaar meaning “market of invoices” is an attempt to bridge the supplier-buyer relationship, by digitizing the transactions which are done manually in the real world. This digitization helps in providing working capital finance to an SME.
Invoice Bazaar operating since 2016 has helped small businesses that have limited access/no access to bank finance with working capital lines in the form of Invoice Finance and Vendor Finance products. We at Invoice Bazaar are proud to have served underbanked and unbanked SMEs, including women led enterprises, that have gone on to create thousands of jobs and helped the GDP.
We have seen the struggle SMEs go through at banks in terms of submitting various documents and still waiting for credit approvals. Even after getting credit facilities, banks make SMEs go through rigorous transaction level checks which make it impossible to borrow against quality receivables. Having spent time working with large financial institutions, we understand that many of the existing products at these institutions are far too complicated for customers to use. We have tried to create a simple and niche solution keeping SMEs in mind.
Invoice Bazaar has also developed two technology platforms that banks can leverage on and roll out products without investing into technology.