Arjun Singh
The startup plans to apply for patent on its predictive credit modelling engine – QuiD Score
New Delhi [India] September 16: Bangalore based Fintech startup QuiD Cash, announced the launch of its proprietary state of the art supply chain finance technology suite which enables working capital financing for suppliers and dealers across industry. As a marketplace platform, QuiD’s tech suite seamlessly connects with supplier’s ERP to track and deliver invoices across different stakeholders including lenders. The platform offers QuiD Coins as reward points on every invoice to benefit the dealers and retailers who make payments through the QuiD platform.
Co-founded by Vikram AG, and Subhash Gupta, QuiD leverages on anchor’s enterprise data for retailer / dealer onboarding in less than 90 seconds and also to estimate QuiD Score, a proprietary credit underwriting model.
“Enterprises today strategies growth by focusing on time value of money. QuiD’s inhouse automated tech is built to enable timely cash flows for businesses with simple plug and play integration connecting anchors and lenders processing thousands of data points.” quoted Subhash Gupta, Co-founder, QuiD Cash.
QuiD’s systems are built to track delivery of goods and auto fetch invoices live from anchor’s ERP and deliver to retailers with financing options. This not only unlocks off balance sheet working capital for anchors on T+1 but also provides repayment flexibility for retailers and dealers along with reward points on every invoice paid.
“The biggest challenge for any lending fintech today is to identify and create a large pool of MSMEs looking for customised working capital financing options and are also credit worthy and lendable at the same time. QuiD Score is poised to solve this challenge by analysing thousands of data points”. Mentioned Vikram AG, Co-founder, QuiD Cash.
QuiD Score is an innovative credit underwriting model ingesting large amounts of alternative and traditional data points from various sources, to estimate AWS factor of a borrower. AWS is Affordability, Willingness to repay and Security (AWS) using which QuiD aims to provide comfort to the lender on capital protection.
QuiD plans to apply for patent on the underwriting model.
