Axis Bank, Next Bharat Ventures Partner To Back Startups, MSMEs
Through this initiative, Axis Bank will extend support to MSMEs across key sectors, who are part of Next Bharat Ventures' Residency Program
Axis Bank signed a memorandum of understanding (MoU) with Next Bharat Ventures IFSC, a subsidiary of Suzuki Motor Corporation in Japan, to provide tailored working capital financing solutions to impact-driven startups and micro and small enterprises (MSME).
This collaboration will enable MSMEs to secure credit without the traditional collateral, thereby reducing financial hindrances and simplifying access to capital needed for business growth.
Speaking on the occasion, Munish Sharda, Executive Director, Axis Bank, said, “ By leveraging our financial expertise and extensive branch network, we aim to help these entrepreneurs scale their operations and achieve sustainable growth. This strategic collaboration reinforces our commitment to financial inclusion, allowing us to support the next generation of socially impactful business leaders.”
Through this initiative, Axis Bank will extend support to MSMEs across key sectors, who are part of Next Bharat Ventures' Residency Program. Starting its first cohort in October 2024, this four-month program is designed to empower entrepreneurs committed to driving impact in India’s rural and informal sectors. The startups selected under the program will have access to Axis Bank's comprehensive range of financial services and solutions, tailored to their specific needs.
The partnership will leverage Axis Bank's vast network of branches across India to deliver these financing solutions and simplify the credit evaluation process, thereby making it easier for startups to obtain debt financing. With a strong focus on tier 2 and tier 3 regions, this initiative will not only promote financial inclusion but also foster long-term economic growth in these underserved areas.
Vipul Nath Jindal, Managing Director and Chief Executive Officer, Next Bharat Ventures, commented, “This partnership with Axis Bank marks an advancement to build a sustainable financial ecosystem for impact-driven entrepreneurs in India. By combining Axis Bank’s financial expertise in providing debt funding with Next Bharat’s tailored support for innovative social ventures, we are excited to see the advancement of high-impact startups in Bharat.”
By integrating Axis Bank’s financial capabilities with Next Bharat Ventures’ focus on nurturing social enterprises, the partnership aims to build a more inclusive and sustainable financial ecosystem.
