Introduction:
In a financial landscape where Small and Medium Enterprises (SMEs) often struggle to access timely funding, Parrami Finance Private Limited emerges as a beacon of hope. Founded with a mission to address the capital challenges faced by SMEs, Parrami Finance offers flexible financial solutions tailored to meet the unique needs of these businesses. At the helm is Manisha Mehta, the visionary Director of the company, who brings a deep understanding of the financial sector and an unwavering commitment to fostering the growth of India’s SMEs. In this interview, she shares Parrami Finance’s inspiring journey, its impact on financial inclusion, and the future of finance in India.
The Journey of Parrami Finance:
Parrami Finance was born out of a desire to create sustainable capital arrangements for SMEs, after years of close collaboration with these businesses. Manisha Mehta recalls, “We have worked very closely with SMEs and corporates, helping them secure capital to manage growth and overcome cash flow mismatches. We witnessed firsthand the challenges they faced in fundraising and the devastating impact of delayed funding on their survival.” This led to the establishment of Parrami Finance, a Non-Banking Finance Company (NBFC) that aims to provide timely capital to SMEs, breaking the cycle of financial inaccessibility that often hinders their growth.
Leadership and Operations:
As the Director of Parrami Finance, Manisha’s primary responsibility lies in leading the company from “zero to one,” overseeing technological advancements, team building, and outreach efforts. Balancing strategic leadership with daily operations is no small task, but Manisha credits the capable professional team at Parrami for handling the day-to-day execution under the founders’ guidance.
“My role is to ensure that we’re always moving towards our larger vision, while our team ensures that day-to-day operations run smoothly,” she says. Parrami Finance’s commitment to providing flexible and timely financial solutions has earned it a unique place in the competitive financial services industry.
Scaling Up and Financial Inclusion:
Looking ahead, Manisha’s vision for Parrami Finance is to scale the business into a highly tech-driven, AI-backed credit provider that meets the growing demands of SME businesses. A key component of this vision is financial inclusion. Parrami Finance adopts a cashflow-based model to assess and disburse loans, rather than relying on traditional financial data, which often excludes small businesses.
Manisha emphasizes that “Parrami’s approach allows us to cater to underserved communities by focusing on current cash flows, rather than historical data, which makes a significant difference in extending support to businesses that need it the most.”
Innovation and Challenges:
Innovation is at the heart of Parrami Finance’s growth strategy. The company’s tech team is continuously developing new solutions to enhance product offerings and processes, keeping the business agile in a rapidly evolving financial landscape. However, the journey hasn’t been without its challenges.
“The authenticity of data provided by SMEs is a significant issue, along with financial indiscipline,” says Manisha. Despite these hurdles, Parrami Finance has embraced technology, using API integrations to fetch accurate data and maintain regulatory compliance, all while navigating the complexities of India’s heavily regulated financial sector.
The Future of Finance and Parrami’s Role:
As India’s economy grows, Manisha sees the finance sector playing an increasingly critical role in driving the success of SMEs. With government support and a focus on digital infrastructure, she believes that companies like Parrami Finance will help bridge the credit gap and contribute to the nation’s economic growth. “The government’s commitment to digital infrastructure, along with a proactive regulatory approach, is creating a fertile ground for financial innovation in India,” she observes.
Fostering a Culture of Innovation and Leadership:
At Parrami Finance, teamwork and innovation are fundamental to the company’s success. Manisha fosters an environment where open communication and collaboration are encouraged. “Our lean, multitasking team shares common goals, and we keep them motivated through recognition and incentives,” she explains.
As a woman leader in the finance industry, Manisha’s journey has been one of resilience and adaptability. Her advice to aspiring women entrepreneurs is simple yet profound: “Believe in yourself, embrace challenges with a growth mindset, and build a strong network of mentors and peers who inspire you.”
Conclusion:
Under Manisha Mehta’s leadership, Parrami Finance is well-positioned to become a formidable player in the financial services sector, particularly in providing credit solutions to India’s SMEs. With a strong focus on technological innovation, financial inclusion, and a commitment to empowering businesses, Parrami Finance is set to shape the future of finance in India. As the company scales new heights, its mission remains clear: to provide timely and flexible funding that supports the growth and success of small and medium enterprises, contributing to the overall economic progress of the country.
“At Parrami Finance, we are not just providing loans; we are creating pathways for businesses to thrive.” – Manisha Mehta, Director, Parrami Finance Private Limited
