Micro MSME Fintech ARTH raises Mn from DEG MIT Alumni Impact Angels CXO Outlook
ARTH has received $2.5 million in funding from DEG, a subsidiary of KfW Bankengruppe, MIT alumni and top-notch impact-driven US and Canadian angel investors. The funds will be used to expand its suite of financial services to be a single point platform to help micro enterprises access to credit, insurance, loans, savings products and other financial services. The funds will also go towards strengthening the technology capabilities and developing robust risk management systems to match the scale requirements.
ARTH is an innovative FinTech startup founded by Shweta Apramey in 2018. Our mission is to help small businesses get formal loans at lower interest rates, thereby creating a transformative impact on their lives. We aim to achieve this goal by providing them with access to affordable formal financial services.
ARTH has been able to keep its focus on providing affordable financing solutions to small businesses since its inception. The company currently provides working capital, insurance and income generation services through its financial services platforms especially designed for micro enterprises. The fintech startup has already facilitated three lakh credit and insurance transactions across India; many of them are new to formal credit and insurance.
“We are on a mission to help micro businesses grow by providing them access to finance. We believe that the time has come for small businesses to get access to affordable credit. We are working towards making this happen by creating an ecosystem that will allow these businesses to thrive.” Said Shruti Sharma, Co-Founder ARTH.
“We are one of first movers in the industry who have been able to create an integrated credit and payments solution for the micro-merchant through our last mile collaborative partnership model, which also reduces the information gap for underwriting the segment. We are also able to offer better products and services to our customers because we have well-developed data and decision-making capabilities.”
ARTH aims to help small businesses get access to affordable credit. They plan to achieve this by providing loans at lower interest rates than banks charge. They will also provide payment solutions like POS terminals and mobile wallets. These products will allow them to compete against larger companies that offer similar services. They hope to reach 1 million small businesses within 5 years.
ARTH was founded in 2017 by a team of experienced entrepreneurs and technologists. Their mission is to help millions of unbanked and underbanked individuals access affordable credit through innovative financial products and services. Since inception, ARTH has grown rapidly, expanding its operations across India and South Africa. During the COVID crisis, ARTH has continued to serve its customers while also supporting local communities. They have partnered with several organizations including the World Bank, UNICEF, and the Bill & Melinda Gates Foundation. These partnerships allow ARTH to provide loans to those in need and support local economies.
ARTH is a financial technology company that helps women entrepreneurs get loans through blockchain technology. It provides a platform for lenders and borrowers to connect directly through smart contracts. The platform allows users to borrow money at lower interest rates and repay their loans within a few days. ARTH also gives its users access to a global peer lending network, allowing them to borrow money from other members of the network.