Digital-lending Fintech firm HAPPY has entered into food-tech sector in partnership with Swiggy, online food delivery platform.
Manish Khera, Founder & CEO, HAPPY, says, “Our objective is to enable small-scale restaurants to get quick access to credit to meet their growth and working capital needs. Especially when these businesses have been hit by the pandemic-led slowdown, this facility will aid their recovery and help them stay afloat in the current times.”
“HAPPY leverages machine learning-based model to instantly underwrite loans to interested restaurateurs based on their past sales performance among other data points. The technological edge, combined with the unique product, will make this partnership a one-stop destination for small and medium-scale restaurants to achieve their business dreams,” a statement made by the platform said.
HAPPY’s lending partner is ARTH, a new-age finance venture that aims to redefine the way micro-enterprises discover financial services by creating an enabling ecosystem built on advanced technology, data and deep customer connect, the statement added.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.