NAKAD

NAKAD is a fintech startup focused on deep-tier supply chain finance, primarily serving India’s micro, small and medium enterprises (MSMEs). The company offers working capital credit, invoice discounting and reconciliation-as-a-service, leveraging proprietary technology to address the persistent financing gap for smaller suppliers in complex supply chains.

Core Products and Services

• Invoice Discounting Platform: Enables MSMEs to obtain working capital by discounting invoices, previously accessible only to large suppliers.

• MicroBill Technology: Tokenizes invoices, fractionalizes receivables and facilitates real-time credit access at every supply chain tier.

• Reconciliation-as-a-Service: Automated financial reconciliation for suppliers and anchors, reducing manual errors and improving cash flow visibility.

• Blockchain-Based Marketplace: Connects businesses with banks and NBFCs for purchase order and tokenized invoice financing, leveraging blockchain for transparency and security.

• Supplier Registration & Onboarding: Streamlined digital onboarding for MSMEs, with a fee charged for platform registration.

Key Milestones

• Raised $7 million in seed funding (May 2022) co-led by Accel and Matrix Partners India, with participation from AdvantEdge Founders and several leading fintech and startup founders.

• Established partnerships with multiple anchors (large corporates), their supplier bases, banks and NBFCs to deliver a holistic supply chain financing solution.

• Recognized for pioneering invoice tokenization and unlocking an estimated $30 billion in capital for credit-starved MSMEs.

Business Model & Revenue Streams

• Supplier Fees: Charges MSME suppliers for registering and transacting on the platform.

• Commission/Spread: Earns a commission on each invoice discounted or financed, shared with financial partners (banks/NBFCs).

• SaaS/Platform Fees: For reconciliation and analytics services provided to anchors and larger corporates.

Geographic & Segment Mix

• India (100%) as of 2025, with a focus on manufacturing, auto, pharma, chemicals, and consumer durables supply chains.

Customer Segmentation

• B2B: MSME suppliers (core), large corporates (anchors) and financial institutions.

Top Clients & Partnerships

• Anchor Corporates: NAKAD partners with multiple large Indian and global OEMs to extend credit and reconciliation services throughout their supplier networks.

• Financial Institutions: Collaborates with banks and NBFCs to underwrite and disburse working capital against tokenized invoices.

• Notable Angels & Backers: Founders of Razorpay, Zetwerk, Bizongo, Uni Cards, Zolve, Five Star Business Finance and senior partners from BCG participated in the seed round, bringing deep fintech and supply chain expertise.

• Client Concentration Risk: The platform’s model is inherently diversified, as it serves hundreds of MSMEs across multiple supply chains, minimizing reliance on any single anchor or sector.

Future Outlook & Strategic Priorities

• Product Expansion: Plans to launch additional credit products and software layers for billing and reconciliation, supporting the digitization of MSME operations.

• Market Penetration: Aggressively scaling operations and hiring across technology, product and customer success to deepen reach in India’s manufacturing and distribution sectors.

• Technology Investment: Continued development of blockchain features and AI-driven analytics to enhance transparency, security and credit decisioning.

• Regulatory: As a fintech in the lending space, NAKAD must navigate evolving RBI norms for digital lending and data privacy.

• Adoption: MSME digital adoption and anchor-driven supply chain digitization are critical for scale.