The program will give all platform users access to guaranteed cash-rates on authentic products, with an interest-free period of up to 60 days.
Gurugram, September 17, 2024: Mistry.Store, a leading Building materials platform, has launched India’s first smart credit program tailored for the building industry professionals like architects, interior designers, contractors-firms and other building professionals.
The smart credit program, an industry-first credit product, is designed for Architects, Interior Designers, Contractor Firms, OEMs and all other building professionals created by addressing the critical credit gap in that segment.
After working hand-in-hand for the last 2 years with over 3,500+ professionals in the building space, Mistry.Store identified that dependence on informal credit alone invariably hinders business growth for professionals and curated the Smart Credit Program to address this critical gap.
The Smart Credit Program empowers building professionals to unlock their full potential. Firstly, it provides an interest-free period of up to 60 days, allowing for effective cash flow management and optimization of project finances. Secondly, the program guarantees cash rates on authentic products, ensuring quality and eliminating the concern of hidden costs. Finally, by simplifying procurement with a one-stop shop for all building materials, it helps to minimize sourcing costs and reduce the risk of pilferage.
By participating in the program, professionals can unlock higher credit limits, enabling them to take on larger and more lucrative projects. This not only fuels business growth but also improves their market reputation with clients and vendors.
A strong credit history, established through participation in the smart credit program, can also enhance their financial profile, making it easier to secure future funding and financing options.
The program is a testament to Mistry.Store’s commitment to supporting the building industry. By offering innovative financial solutions, guaranteed product quality, and a streamlined procurement experience, Mistry.Store will empower building professionals to achieve greater success in their projects.
For professionals, the program is easy to sign-up for, and they can start enjoying its benefits immediately. After sign-up, Mistry.Store will assist professionals to set-up credit limits with partner institutions.
Vaibhav Poddar, Cofounder of Mistry.Store, states “By enrolling in the Smart Credit Program, professionals can achieve significant growth. We project an increase in profit margins by 8-10% and business scaling by 2x-3x. With a higher credit limit, professionals can take on more prominent projects and experience exponential business expansion.”
The Smart Credit Program also presents a compelling opportunity for NBFCs (Non-Banking Financial Companies) to open up the thriving interior professionals’ space for credit. Partnering with Mistry.Store will help them onboard customers, mitigate risk with end-use control, offer exclusive benefits, and ensure credit line utilization.
This partnership presents a win-win situation for both parties.
Founded in 2022 by Vaibhav Poddar and Bhanu Mahajan, Mistry.Store is a revolutionary platform dedicated to simplifying building material purchases for all building professionals. With affordable pricing, a vast product selection (8+ categories, 120+ brands), and a user-friendly experience, Mistry.Store streamlines the entire procurement process.
Mistry.Store is currently operational in Delhi-NCR, boasting a 20,000+ sq ft warehouse and sampling area. The company has already partnered with over 120+ brands and onboarded a remarkable 3,500+ professionals, solidifying its position as one of the leading platforms for the building industry.
Having secured $2.5 million in funding from prominent investors like Omidyar Network India, Waveform VC, and Bharat Founders Fund, Mistry.Store is poised for significant expansion. The company plans to leverage this funding to broaden its reach to new cities, further develop its end-to-end ecosystem for all building professionals, and create innovative technology solutions that empower both professionals and their customers.
India’s home interiors market is booming. It was valued at $23.2 billion in 2020 and is expected to grow to USD 38.2 billion by 2027.
Mistry.Store – Building a brighter future for all Building Professionals, one project at a time.
