These Goa-grounded entrepreneurs are simplifying credit for retailers and distributors

• ByStartupStory     |    January 30, 2022

India has roughly 6.3 crore MSMEs and over 12 million Kirana stores. But, despite the gargantuan figures, there’s a vacuum of systematized credit available to the sector, leading to a credit gap of$ 250 billion.

Hailing from a family engaged in the FMCG distribution business for over three decades relatives Sanket Shendure and Sanmati Shendure developed in-depth sphere moxie along with a rich understanding of the challenges faced by Indian retailers.

Currently, withinside the FMCG section itself in India, ninety percent of the $a hundred billion well worth of R2D (Retailer to Distributor) bills are achieved in cash. Minko`s offerings will allow virtual adoption amongst grassroots stores and vendors thru a unique credit-led fee product.

The founders commenced their adventure with a home cash remittance enterprise manner returned in July 2017, which became facilitated through a community of shops and kiranas who acted as sellers.

The whole transaction manner became being powered through ICICI Bank and Paytm Payments Bank withinside the background.

By 2020, Minko, then referred to as Minkspay, had constructed a distribution community of 10,000

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