Birth of an idea
Envisaged by Aye Finance, SwitchPe was born from an urgent need that most small businesses face today. The MSME sector in India boasts more than 63 million enterprises, which contribute to more than 30% of the Indian GDP. And while the impact of this sector is significant, so are the issues that plague shop owners on the ground. The typical MSME customer faces numerous gaps in the supply chain, including a lack of well-defined financial infrastructure, regular scarcity of working capital, and the unwillingness of distributors to extend credit lines.
This got us thinking, how often would a shopkeeper miss out on new customers or lose existing customers because they were out of funds to resupply? Because distributors lost faith in their ability to pay on time? And so, the first seed was sowed. SwitchPe was willed into existence.
What is The Switch?
We offer what small businesses in India need – access to credit lines, instant and seamless connectivity to the best-priced wholesale distributors in town, an ever-increasing variety of products, and most importantly – a chance to grow rapidly and confidently in the transforming Indian marketplace.
SwitchPe provides unsecured, non-collateralized credit lines to kirana store owners in a sleek and modern platform – to connect with the best-priced wholesale distributors – closest to their store. Our intuitive user interface helps kirana store owners explore the marketplace, reach out to distributors, and repay monthly bills (partially or in full), all in a single platform. Additionally, kirana store owners earn cashback on every full repayment!
At SwitchPe, we believe in the great potential of small businesses in India. Our vision is to become India’s leading platform for micro-enterprises to access financial services and manage their businesses efficiently.
Powered by Aye
SwitchPe is powered by Aye Finance, an RBI-registered NBFC. Aye Finance provides working capital loans to micro enterprises and in doing so, creates a transformative social impact. With over 300 branches across 20 states in India, Aye has served well over 420,000 customers. Aye Finance is known for its transparent pricing structure, easy documentation process, and guarantor-less lending.
So, the only question that remains is – are you ready to make The Switch?