Hailing from northern India, Sambhav Jain embarked on a mission fueled by a profound understanding of the challenges faced by micro, small, and mid-sized enterprises (MSMEs) in accessing credit. Witnessing the struggle that often led these enterprises to resort to high-cost lending, Jain set out to change the narrative. The result of his vision and dedication is Nakad, a pioneering deep-tier supply chain finance platform that aims to streamline credit access for MSMEs supplying services to major anchor clients.
Nakad’s approach is innovative, addressing a crucial gap in the financial ecosystem for smaller enterprises. The platform has become a catalyst for change by working with 11 anchor companies and supporting over 1,350 suppliers. This not only facilitates a smoother supply chain but also empowers MSMEs with the financial flexibility they need to thrive in a competitive market.
The impact of Nakad has not gone unnoticed. In a testament to its potential, the company successfully secured $7 million in a seed funding round, attracting support from notable investors such as Accel, Matrix Partners, AdvantEdge, and influential angel investors, including founders from Razorpay, Zetwerk, and PayU.
Sambhav Jain’s journey to Nakad is marked by academic excellence, having studied electrical engineering at the prestigious IIT Bombay. Prior to venturing into the entrepreneurial realm, he honed his skills at the Boston Consulting Group, gaining insights into diverse business landscapes.
Nakad is more than a fintech platform; it’s a manifestation of Jain’s commitment to bridging the financial divide for MSMEs. The platform aligns perfectly with the growing demand for inclusive financial solutions that empower smaller enterprises and drive economic growth.
As Sambhav Jain continues to steer Nakad towards greater heights, his story becomes emblematic of the transformative impact that innovative entrepreneurs can have on reshaping financial landscapes and empowering businesses that often operate on the margins. Sambhav Jain’s Nakad stands as a beacon of hope for MSMEs, providing them not just with credit but with the promise of a more equitable and sustainable financial future.
