The Indian entrepreneurial landscape is consistently expanding and is forming the backbone of the Indian economy. The MSME sector is one of the greatest contributors contributing 27 percent to the country’s national GDP, and providing employment opportunities to a large portion of the population. Hence, it is imperative to ensure that efforts are made to boost the growth of the MSME sector. To further bolster the considerable potential in MSMEs and improve their ability to access financial solutions, fintech has the power to reach deep within India to target this massive segment. Amit Rajpal and Gaurav Patankar (Founders of Niyogin Fintech) understood this need and therefore led an initiative to provide a platform that could support and enhance the potential of small businesses across domains; they together established Niyogin Fintech.

Niyogin aims to substantially impact the lives of MSMEs by giving them solutions that leverage the power of technology and the confidence of an integrated network of partners. With a technology-first approach, the company is offering small businesses a holistic platform embracing the entire rural sector to develop an urban MSME landscape providing financial inclusion, credit, investments, and SAAS services on the foundation of a unique partner-led physical distribution network.

Recollecting about Niyogin and its journey, Tashwinder Singh, CEO & MD speaks volumes regarding the company during an exclusive colloquy with CIO

Insider.

Tell us about your flagship offerings. What makes Niyogin a reliable choice for customers?
Niyogin is designed to help small businesses grow. It is a platform-centric company with lending capability, leveraged to empower the MSME sector. This makes us unique. Our motivation is to focus on MSMEs. Therefore, we try to make sure that our products and capabilities are driven toward providing solutions to MSMEs. Whether it is providing a loan or a technology solution that can help grow an MSME to effectively operate like a small retail store in rural India, and perform all banking transactions for the ecosystem of people who live around. We are India’s unique early-stage public-listed fintech company committed to delivering impact-centric solutions and building the Neobank platform infrastructure to power MSMEs through rural, urban, and wealth tech using our partnership-led model.

organization young and staffed by a lot of young people. Our practices and procedures are to make sure that our people feel enthused about working in our institution and excited about making an impact in society.

How has been the journey so far? What
is your vision for Niyogin?
Our journey so far has been one of continual growth and evolution as we re-imagine the future of MSMEs in India by applying technology, data, analytics, and human understanding. Since its inception, we have always been thinking ahead to adapt to changing realities and emerging needs to best serve the MSME of India and this has helped us to move the company’s GTV (Gross Transaction Value) from Rs. 8000 Crores in 2022 to about Rs. 100,000 Crores in three years.

India has more than 800 million people living in rural India and the effort on opening bank accounts for every Indian was done by the government the government opened around 430 million bank accounts for unbanked people. We believe there is a significant opportunity in providing high quality banking services to this segment and bringing people into mainstream banking by using technology as an enabler. India is undergoing a digital revolution and will continue to provide significant opportunities for companies like ours to participate in this revolution.

Our vision is to be the country’s best small business-centric organization solving the last-mile problem by empowering customers through an ecosystem of products, partnerships, and technology.