Finance: IOUX (A Unit of Petit Moyen Kapital, RBI registered NBFC)
The soon to be launched IOUX Financing Services will have multiple Financers/ Financing Institutions empanelled on the platform to offer various financing products mainly for Invoice and Sales Bills. Only Banks and RBI registered NBFCs and other regulated entities will be empanelled on the IOUX platform for financing. All empanelled Financing Institutions will be mandated to strictly follow KYC Norms, Fair Practice Code and Grievance Redressal Mechanism as per the requirements of the Reserve Bank of India.
Financing Institutions will be matched with borrower/user’s credit requirements and profile thereby providing one or more options of financing to the users. IOUX enables an online system to digitally process financing offers from initial acceptance of terms offered, allowing negotiation between the User and Financing Institutions, finalising the terms and creation of a contract through required documentation between the financing institutions and the user based on the final acceptance of terms negotiated between the Financing Institutions and the User.