New Delhi, 24th February 2023: Leading rural fintech firm MOS World has partnered with neo-fintech platform Happy in a new collaboration that aims to extend credit lines to MOS merchants through a fully digital process. MOS World has a strong track record of providing business opportunities to micro-enterprises, and this new partnership will help such businesses to establish or expand their operations.
Since being founded in 2016, Happy has formed partnerships with numerous merchant aggregators, including POS vendors, BC networks, and e-commerce platforms, to offer instant loans to merchants. The platform has raised $18 million in funding over two rounds, with its most recent funding coming from a debt financing round in 2020.
The new partnership between Happy and MOS World will enable the neo-fintech platform to extend its reach to the rural fintech firm’s merchants across India. This collaboration will help both companies achieve growth by providing credit to micro-businesses that are often underserved and underrepresented in India’s economy. Ultimately, this partnership will benefit both organizations and contribute to the country’s overall economic development.
Commenting on this development, Mr. Manish Khera, Founder & MD of Happy said, “We are extremely delighted about this endeavour and look forward to working with MOS World in order to build a valuable collaboration and empower the MSME sector. Furthermore, with this alliance we aim to foster relationships with other brands and expand the partnership and customer base. What excites us the most is the fact that we have now partnered with a fintech company that will help us cater to a niche, underserved sector. We also believe that this is just a beginning, and we expect a very fruitful journey in the times ahead.”
Sharing his views on the same, Mr. Chirag Shah, Founder & CEO of MOS World said, “We are thrilled to be able to enter into this partnership with Happy. The partnership will focus on launching a lending program for small and big agents in rural and urban areas to significantly promote financial inclusion and growth of businesses. This alliance will provide access to much-needed capital for agents, enabling them to expand their businesses, increase their revenue and profits, and improve their overall financial health. We are confident that this collaboration will mark an important milestone in the Indian financial services sector and look forward to helping agents achieve their business goals.”