New Delhi: Not only Behemoth Reliance Jio that Facebook has allocated for investment in India.
The eyes of the American social media giant is a larger part of the Indian startup ecosystem that is developing and profitable because it looks at the company’s initial stage on its investment line on the Meesho social trading platform and Edtech Enterprise Unacademy, both of which have become unicorn.
“We will continue to look for investment opportunities in the initial Startup, and we focus on the support of innovative models that have potential growth not only in India, but can also be improved globally,” Ajit Mohan, Facebook India MD, “Told Toi.
Incidentally, Meesho.
And the Unacademy has achieved the status of Unicorn, which means a decomposed fortune for Facebook Investment is a “agnostic sector”, and thus open to see a younger company throughout the business category.
While Facebook India MD refused to provide details, it was believed that companies usually invest between $ 25 million and $ 50 million in Indian startup.
In the initiative Especially India, Facebook on Friday also launched the ‘small business loan initiative’ for P Companies that are present on their platforms to get quick access to credit through independent loan partners.
Through Facebook partnerships with indifferences, small businesses can get loans between Rs 5 Lakh and Rs 50 Lakh with an interest rate that has been determined 17-20% per year and applicants will not be subject to indifi processing fees.
There is a 0.2% discount for businesses that are fully or partially owned by women.
“It will be a long connection to the arms with lenders who have a good reputation and reliably, but in the construct program that has been designed along with Facebook …
Indifi is the first loan partner and the idea is that as we have, others can follow.” Mohan said there was no revenue share for Facebook through the program, adding that SMEs would not have an obligation to spend the results of loans on their platforms.
“Access to credit continues to be one of the important factors that drive and have an impact on MSME growth.
Independent research shows that Indian MSMEs face major challenges in securing financing on time and it limits growth opportunities,” he said.