Profectus offers term loans and working capital loans to small-medium enterprises operating in the manufacturing and service sectors in India.

Scienaptic AI, the global AI-powered credit decision platform provider, announced today that Profectus Capital is now live on its platform. Scienaptic’s AI powered credit decisioning engine and industry-tested scorecards for Bureau data and Financial Statements will help Profectus make better decisions on financing small and medium businesses. (BusinessWire)

The deployment of Scienaptic’s AI technology will initially be used primarily in credit decisioning, but later will extend to determination of risk patterns in Profectus’ customer behavior and the generation of sharper predictive risk signals.

SME financing in India

Profectus Capital provides secured financial solutions to SMEs. It offers Cluster Specific Term Loans, Working Capital Term Loans, Supply Chain Financing Solutions and NBFC and MFI Funding.

It commenced business in September 2017 and as of March 2021, had financed 1300+ SMEs across its 20 operational branch locations.

The company is a systematically important non-banking financial company registered with the Reserve Bank of India and headquartered in Mumbai, India.

Lenders use the Scientaptic platform with assets exceeding $100 billion, enabling them to process over $22 billion in credit decisions.

“Scienaptic AI’s credit decisioning platform will be automating our SMB loan decisioning process and providing intelligent signals to help us scale approval rates while continuing to keep NPAs very low,” said Nimesh Parikh, CRO, Profectus Capital. “The platform will be providing a smoother experience for our customers and sharper data driven insights to our underwriters.”

“Profectus has tremendous domain expertise in MSME/SME funding and are poised to scale their asset base dramatically,” said Joydip Gupta, Business Leader Scienaptic AI. “We are sure that Scienaptic’s unique, adaptive AI technology will enable the company to serve more SMEs, reduce credit risk and create maximum social impact to the manufacturing and service sectors of India.”

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