A 21 Year entrepreneur is helping to fill the SME's Credit Gap in India

A 21 Year entrepreneur is helping to fill the SME's Credit Gap in India

One of the youngest tech entrepreneurs from India, Pravas Chandragiri, has become a sensation recently by being popular for bridging the SME's credit gap in India. 

From running a retail store to starting an FMCG growth platform- Soptle, the professional life of Pravas Chandragiri was not a cakewalk. Yet, he came a long way to become one of the youngest entrepreneurs in the country. 

Let's sneak peek into Pravas Chandragiri's life and learn how he roped multiple retailers and manufacturers onto his platform. 

Pravas Chandragiri Biography

Pravas Chandragiri is the founder and CEO of Soptle, a SaaS-led B2B Retail Commerce Platform. His hometown is Balasore, Odisha. Pravas Chandragiri age is 20 years as he was born on 30th August 2002. 

Being a meritorious student, Pravas Chandragiri was known for his intelligence and creativity. At the age of 12, he was involved in his grandfather's money-lending business, and since then, there has been no looking back. 

His little mind was always full of ideas and innovations. As he got involved with his uncle's retail business, he witnessed a real burning problem of credit scarcity faced by Small & Medium Businesses across the country. It was when he wanted to create something that could help SMEs, especially in cash management.

In 2021, Pravas Chandragiri started Soptlle, a SaaS-led B2B Retail Commerce Platform, and the rest is history. 

What is Soptle?

Soptle is a technology company that aims to revolutionize financial access to underserved segments of the Indian retail economy. It was founded in 2021 by Pravas Chandragiri with the aim to establish an integrated technology for the neglected regional FMCG Manufacturers in India with a B2B Retail Commerce App.

The company uses tech and data to distribute at scale and use necessary components (existing Enterprises/wholesalers) in the FMCG Supply Chain to build a high-growth and profitable business. Today, the Soptle is known for bridging the SME's credit gap in India.

Soptle Funding

Soptle has secured $1.5 million pre-seed funding from investors like Kube VC, We Founder's Circle (WFC), Iceland Venture Studio (IVS), and Nyra Ventures, as well as founders and CXOs from organizations like Dunzo, Jar, Gati, and All-Cargo Group. 

It is expected that this funding will help Soptle expand its retailer-network reach and manufacturing-partner footprint across India.

How a 21 Year old entrepreneur is bridging the SME's credit Gap in India?

Pravas Chandragiri's Soptle is not leaving any stone unturned to make cash flow management hassle-free for small and medium enterprises. It is empowering SMEs by offering simple, effective, and quick financing solutions to the stakeholders in the FMCG distribution ecosystem.

His tech-friendly company is data-driven and considers credit scores, bank account transactions, distributor, and brand history to assess risk and offer collateral-free loans by utilizing an AI-based credit engine.  

Created with the vision to empower and digitize FMCG manufacturers across the globe, the work of Soptle includes:

1. Buy Now Pay Later-Get interest-free credit.
2. Purchase Finance- Purchases from the manufacturers/brands/anchors to be financed.
3. Invoice Discounting- Capital from invoices raised being unlocked to be reused in the business.

How does Soptle work?

For enterprises, Soptle's cutting-edge web app is designed exclusively for enterprises to tackle the problem by managing operations and offering a comprehensive suite of tools to empower the business. 

Likewise, for retailers, the Soptle app helps to tackle financial challenges through its innovative solutions, ensuring a seamless pathway to financial freedom. It enables retailers to propel their operations forward with no hassle. 

Interesting Facts 

• Pravas Chandragiri started Soptle, a SaaS-led B2B Retail Commerce Platform, at the age of 19.
• He was an 'A grade' student with a huge interest in Maths and Computers. He has won many Maths Olympiads in school.
• At 15, Pravas and his friends developed a computer program dedicated to small retailers that helped them manage cash.
• Before Soptle, Pravas Chandragiri started a technology company, Profitails.

ALSO READ: Who is Animesh Pradhan? He Passed UPSC in First Attempt and Achieved 2 Air

Frequently Asked Questions

1. Who is Pravas Chandragiri?

Pravas Chandragiri is a 20-year-old entrepreneur, founder, and CEO of Soptle, a Saas-led B2B Retail Commerce Platform that helps SMEs in cash flow management. 

2. What is the revenue of Soptle?

Currently, the business of Soptle- one of the fast-moving consumer goods companies, has an annual recurring revenue of $2 million. However, it is expected to reach $10 million in annual recurring revenue by the first quarter of next year.

3. Who are the top competitors of Soptle?

Lendingkart, Kissht, NeoGrowth, FlexiLoans, and Indifi are believed to be the main competitors of Soptle.

ALSO READ: Mayank Yadav Biography, Speed, Age, Height, Career, Family

Conclusion 

Pravas Chandragiri has become a renowned name in the FMCG industry not just because of his company, Soptle, but also for being the youngest entrepreneur helping SMEs. As the demand for credit surges yearly from the MSME sector, it is believed that Soptle will rise even higher.