Embedded Credit Solutions for MSMEs with GLAAS

GLAAS, a leading embedded credit infrastructure platform dedicated to MSMEs, has welcomed Devesh Sachdev as its co-founder and managing director. Sachdev, a prominent entrepreneur in the financial services sector, previously founded Fusion Finance, where he grew the company from inception to a successful initial public offering in 2022. With his arrival at GLAAS, Sachdev is also committing $5 million to the company.

This strategic move reflects GLAAS’ ambition to secure a substantial portion of the rapidly growing embedded credit market in India, as MSME lending transitions from traditional methods to platform-centric distribution. It is projected that embedded credit could account for nearly 25% of MSME lending by the year 2030.

Focus on Growth and Expansion

With the recent fundraising and the expansion of its leadership team, GLAAS is concentrating on enhancing the balance sheet of its in-house non-banking financial company, Gromor Finance. The company aims to broaden its co-lending partner network and elevate its presence across rapidly growing digital platforms.

About GLAAS and its Vision

Founded in 2021 by Bhupesh Morye, Santosh Shetty, Shailesh Dixit, and Sanjeev Kumar, Gromor Lending as a Service (GLAAS) serves as an embedded credit infrastructure platform that provides digital ecosystems with the ability to deliver seamless, real-time working capital solutions tailored to MSMEs. GLAAS acts as the primary go-to-market platform, while Gromor Finance focuses on fulfilling the working capital requirements of MSMEs.

To date, GLAAS claims to have disbursed over Rs 1,200 crore in loans. The platform empowers digital ecosystems, such as e-commerce, payments, and supply chain networks, to provide real-time, contextual credit to MSMEs. By harnessing transaction data and employing API-driven integrations, GLAAS facilitates instant underwriting, smooth disbursements, and automated repayments, thus transforming credit into a continuous and embedded aspect of commerce.

Adoption and Partnerships

The company is experiencing robust adoption across various digital platforms, further supported by an expanding pipeline of partnerships and a rising demand for embedded working capital solutions.