UpCap enables invoice discounting for AgriTech MSMEs in India

By Gloria Mathias

UpCap, the FinTech platform for structured invoice discounting products, has launched its first product, ‘Trade and Supply Chain Invoice Discounting’.

The firm focuses on funded startups and healthcare companies for sourcing invoices. Amongst funded startups, the focus has been on the Agri-tech sector. It announced its partnership with two AgriTech startups – Gourmet Garden and Poshn and is signing up with another large AgriTech startup.

UpCap aims to reduce the credit availability gap by enabling quick and real-time invoice discounting through its platform. An MSME can register by uploading their invoices for funding to avail of the invoice discounting product. The invoices will be listed under the ‘Trade and Supply Chain’ section, accessible to retail investors to invest in.

Ajit Aranha, Co-Founder and CEO said, “Availability of timely credit can be a game changer for MSMEs. It determines their ability to act quickly, use market opportunities, and grow to their highest potential. Invoice discounting platforms, such as UpCap’s, offer AgriTech companies an effective way to manage their cash flow, access working capital, and fuel their growth.”

Pramod Prasad, Chief Operating Officer of Gourmet Garden said, “Partnering with UpCap for invoice discounting facility has helped us balance the working capital requirements and resulted in better financial planning. Once the vendor onboarding is done, the payment process is smooth and hassle-free. And our vendors are equally thrilled as their payments have been streamlined.

UpCap was established in 2021 by Ajit Aranha, Deepak Naragund, Roshan Mundhra and Santosh Dsouza and was founded to offer retail investors a platform to explore alternate investment options which offer high returns and is free of market fluctuations.

For the borrowers/ MSMEs, the platform seeks to generate revenue and profit growth without compromising on cash flow or working capital costs. UpCap wants to bridge the existing funding gap for the MSME segment in India.