Xtracap Launches ‘Xtracapneo’ – A Last-Mile Channel Financing Enabler

Xtracap Fintech India Private Limited, a FinTech firm focused on problem & solutions of the small businesses of India digitally launched yet another fine technology-based product ‘XtracapNeo’ – a last-mile channel financing enabler for the distributors of brands. XtraNeo can be downloaded through the Playstore and will also be available through their web portal.

Xtracap Neo is an app that empowers distributors to onboard dealers in their network via referral code and provides access to instant working capital finance to their respective dealers. The product is specially designed keeping in mind the Indian distributor’s requirements of keeping track of their business in a simple easy routine to understand android based application.

By analyzing the distributor’s GSTN Data, Xtracap Neo provides deep business insights and categorizes their dealer network to assist in providing the dealers with invoice financing solutions. It provides a dashboard where the distributor can view their entire dealer network with real-time status updates on invoices financed, payments done and remittances received.

The Gurgaon based fintech aims at accelerating the local GDP by providing millions of small businesses in small towns and cities of emerging markets a bundle of affordable and easy to access financial solutions, comprising affordable Working Capital, digital savings, health and shop insurance, and digital book-keeping. Through its new product, XtracapNeo, Xtracap takes a step forward in integrating the brands-distributors-retailers through a trustable technological solution.

Commenting on the launch, Mohammed Riaz, Founder of Xtracap Fintech India Pvt Ltd said, “Xtracap Fintech has a 100% digital engagement shopkeeper right from onboarding to servicing the shopkeeper, with launch of XtracapNeo, we have now managed to bridged the online engagement with the suppliers, shopkeeper and NBFC/bank”