121 Finance becomes the 1st Lender on GeM Sahay 2.0 Built on OCEN Framework

“India’s MSME sector face the critical challenge of limited access to credit. The OCEN framework has shown how it can revolutionize the landscape. Initiatives like GeM, have already successfully facilitated 50 lakh orders in the current financial year itself and it is just the first step towards endless possibilities. The scalability and flexibility of OCEN framework will pave a way for more such projects, fostering an ecosystem where the sky is the limit for MSME growth and financial inclusion.” said Dr. Ravi Modani, Founder and CEO of 121 Finance.

The smallest invoice financed by 121 Finance on the previous version of GeM Sahay was just INR 160, a testament to both the lender’s ability to meet the diverse needs of businesses and the GeM Sahay’s ability to create a system which ensures financial inclusion for all.

“Our experience with GeM Sahay was exciting as we successfully leveraged our expertise in small-ticket transactions. Thanks to the support from iSpirt, GeM and other partners which inspired us to bring the new version GeM Sahay 2.0 in record time.” said Mr. Gazal Binani, Sr. Vice President (Tech), 121 Finance.

As India’s largest independently owned NBFC-Factor, 121 Finance specializes in solving B2B trade credit challenges for MSMEs. The company’s expertise lies in offering digital-first innovative financial products including Factoring Finance, Purchase Finance, Channel Finance, eliminating friction in trade credit and empowering small businesses to access trade finance for small ticket needs.

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