On Wednesday, Fintech firm Udaan reported that the B2B commerce firm had enabled credit worth up to Rs 2,200 crore to 100,000 retailers across India in FY22. Udaan Capital recently announced that the company had enabled credit of over Rs 2200 crores to more than one lakh small and medium-sized retailers of Electronics, Lifestyle, and General Merchandise. They are using Udaan Capital in FY22. The platform allows small and medium shops to purchase from suppliers by providing credit through its lender partners.

The company reported that its algorithms leverage datasets that include transaction patterns and trade invoices to select borrowers, assist the lender partners in underwriting decisions, and better approval rates for borrowers by 35 per cent. With this, the company would collect 97 per cent of the disbursed amount before the due date from discretionary category retailers.

The collections are through multi-channel processes, including spanning digital nudges, field visits, and the calling. The operation runs on technology that manages one million entries monthly from various channels. As a result, the company would recover 99.5 per cent of lender partner disbursals in less than 180 days from approximately 750 towns and 9000 pin codes.