We work with almost all large banks in India, powering vendor onboarding for most payment companies, and also work with credit bureaus,” Omkar says. “We have received significant traction across several verticals such as banking, lending, payments, insurance, investments, and corporates for digitisation, verification, and diligence. The team, which has now grown to 150 members, recently added in ‘skip’ tracing solutions, improving the contacting capability of defaulters and improving recovery rates for financial institutions. Since we officially began business operations in 2017, we have grown exponentially and are cash-flow positive and profitable,” Omkar says. “With minimal liquidity in our accounts, it was difficult to manage resources and ensure salaries were paid, while simultaneously trying to scale the company. It took Karza time to clear the larger banks’ complex procedures, information security concerns, compliance requirements, audits, and to convince them about the robustness and security of its solutions.Īnother challenge was managing cash flows. Digital payments seeing second growth spurt after demonetisation, says fintech report by Matrix Partners India The challenges and way out
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