Anubhav Jain

So we share that revenue with the balance sheet partner.

So we get all that revenue.

And then there is a certain share of that that we give to the balance sheet partner and remaining we keep.

It's almost like a 60-40 split.

Yeah, really excited.

Yeah, so we are in the B2B space.

So we essentially work with B2B marketplaces.

So our customer here is a small business.

And these are the mid to long tail of small businesses right now in India, but it could be anywhere in the globe, across the globe.

So

This is a very small shopkeeper or a retailer or an SME who's looking to, let's say, go to a digital B2B marketplace or an offline B2B distributor and source his inventory or goods.

And because there is a certain credit cycle in which they are able to sell those goods, they need that working capital in the form of a credit or a line.

So we provide that credit line to these small businesses.

Just to give you some idea about these businesses, they are typically less than, let's say, $20,000 of annual turnover.

So they are really, really small guys.

We are a managed marketplace, so this does not sit on our balance sheet.

We work with a lot of banks and non-bank institutions across the country where we have a revenue and a risk-sharing arrangement with them so that we onboard these customers, we provide the best customer experience, we have the technology.

It's a fully embedded product that we provide.

Focus being, we do the customer acquisition, we do the underwriting, we do the collections, but the balance sheet is provided by the lending institution.

So as of today, we have close to around 25,000 odd small businesses that have transacted with us.