Mistry.Store, a leading platform in the building materials industry, has unveiled India’s first Smart Credit Program designed exclusively for building professionals, including architects, interior designers, contractor firms, OEMs, and other related professionals. This industry-first credit product addresses a significant credit gap that has long hindered the growth of professionals in this sector.
Over the past two years, Mistry.Store has worked closely with more than 3,500 professionals in the building space, identifying the challenges associated with informal credit. Dependence on informal credit has often limited the growth of businesses, leading Mistry.Store to curate the Smart Credit Program as a tailored solution.
The program provides an interest-free credit period of up to 60 days, allowing professionals to better manage cash flow and optimize project finances. In addition to this, it guarantees cash rates on authentic products, ensuring that professionals receive high-quality materials without hidden costs. Moreover, the Smart Credit Program simplifies the procurement process, acting as a one-stop shop for all building materials, which minimizes sourcing costs and reduces the risk of pilferage.
By participating in the program, building professionals can unlock higher credit limits, enabling them to take on larger projects and enhance their reputation among clients and vendors. A solid credit history built through this program can also enhance professionals’ financial profiles, making it easier for them to secure future funding.
The Smart Credit Program reflects Mistry.Store’s commitment to empowering the building industry by offering innovative financial solutions, guaranteed product quality, and a seamless procurement experience.
“By enrolling in the Smart Credit Program, professionals can achieve significant growth. We project an increase in profit margins by 8-10% and business scaling by 2x-3x. With a higher credit limit, professionals can take on more prominent projects and experience exponential business expansion,” said Vaibhav Poddar, Co-founder of Mistry.Store.
This initiative also presents a lucrative opportunity for Non-Banking Financial Companies (NBFCs) to tap into the thriving market of building professionals. By partnering with Mistry.Store, NBFCs can onboard customers, mitigate risks with end-use control, offer exclusive benefits, and ensure optimal utilization of credit lines.
Founded in 2022 by Vaibhav Poddar and Bhanu Mahajan, Mistry.Store aims to revolutionize the procurement process for building materials. The platform offers a wide selection of products across 120+ brands in 8+ categories, with affordable pricing and a user-friendly experience.
Currently operational in Delhi-NCR, Mistry.Store operates a 20,000+ sq ft warehouse and sampling area and has already partnered with 120+ brands, bringing over 3,500 professionals onto the platform. Having secured $2.5 million in funding from key investors like Omidyar Network India, Waveform VC, and Bharat Founders Fund, the company is planning to expand to new cities, further develop its end-to-end ecosystem, and implement innovative technology solutions for building professionals.
India’s home interiors market is booming, having been valued at $23.2 billion in 2020 and expected to grow to $38.2 billion by 2027. Mistry.Store is poised to play a pivotal role in this growth, empowering building professionals across the country.
