121 Finance, a leading NBFC-Factor, has crossed ₹10 crore in cumulative disbursements through GeM Sahay, the credit facility integrated with the Government e-Marketplace (GeM). The company has disbursed over 2,600 loans to more than 400 MSMEs across 173 cities in 27 states, helping small suppliers access working capital against confirmed government purchase orders.
Commenting on the milestone, Dr. Ravi Modani, Founder & Managing Director, 121 Finance, said: “India’s MSME ecosystem requires credit products that are aligned with business cash flows rather than traditional collateral-based lending. GeM Sahay demonstrates how digital public infrastructure and OCEN can make formal credit accessible to even the smallest enterprises. Our focus remains on enabling seamless, transaction-based working capital financing for MSMEs across the country. Our expertise in technology-enabled factoring and cashflow-based lending has enabled us to develop scalable financing solutions that align with the business cycles of MSMEs and provide access to formal credit where it is most needed.”
Commenting on the broader significance of the initiative, Sagar Parikh, Core Volunteer at iSPIRT, the institution behind OCEN and India Stack, says, “GeM Sahay demonstrates how OCEN can enable highly personalised, cashflow-based lending at scale. By combining transaction-linked underwriting with controlled repayment mechanisms, it helps expand credit access while improving portfolio quality.”
Industry stakeholders view GeM Sahay as one of the first scaled demonstrations of OCEN-enabled lending, showcasing how transaction-based underwriting can improve credit access for underserved businesses while maintaining portfolio quality.