Credit One has chosen to operate in MSME fleet segment which is highly fragmented and historically deprived of working capital facilities from banks and NBFCs. Since the financial literacy of people involved in this business has been relatively low, most of them depend on informal channels like money lenders and fuel pump owners for fuel financing who provide credit at exorbitant rates.
Through its unique ecosystem and technology, Credit One provides easy access to unsecured credit limit for fuel purchase to MSME fleet owners. Cost of credit is recovered from multiple sources like MSME customer, oil marketing companies and petroleum dealers. Thus the MSME fleet owner is freed from high cost of informal credit, builds credit score for future borrowings and benefits from easy to use technology solutions provided by Credit One for ease of operations.
Having succeeded with this concept for fuel financing, Credit One has replicated the same across other categories of consumables required by MSME fleet segment.