Our investment
Description of the investment.
Description of the investment.
A co-investment in Epimoney Private Limited ("Flexiloans"), alongside Accion Digital Transformation Fund. FlexiLoans uses its digital platform to provide unsecured and partially secured invoice discounting and working capital loans to MSMEs.
Impact information
Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.
Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.
What?
| Impact |
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Improved economic opportunities by increasing access to formal finance for micro and small businesses in India, allowing them to sustainably participate in the economy and scale their business (SDG 8.5, 8.10). |
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How?
| How? |
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BII’s equity injection will help FlexiLoans to continue to scale its digital-only model. By being able to access shorter supply chain financing and longer-term loans, MSMEs will be able to manage their liquidity and meet their growth needs. Liquidity management is critical to viability of MSMEs and capex financing supports business growth. This would lead to increase in income of MSME owners and some employees (through increase in employment and employee salaries). |
Who?
| Stakeholder | Geography | Characteristics |
|---|---|---|
| Customers – business owners and employees |
India – 50% of customers in tier 3 towns |
Based on disbursements, the company currently serves 39% of female primary or co-applicant customers, Based on a customer survey, 39% of term loan customers are low-income. |
How much?
| Scale | Depth/Duration |
|---|---|
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Growth in loan book - unable to share details |
Depth: expected to be higher for new to credit customers and those who do not have collateral. According to the customer survey, 42% of term loan customers increased employment or salaries of employees. Duration: expected to be at least for the tenor of the loan but could be longer, especially for term loans. |
Contribution/additionality
| Contribution/additionality |
|---|
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Competitive banker-led process with 1/3 of the round for secondary purposes but BII’s participation will support alignment of MSE target segment (in tier 2&3 cities vs. metros and tier 1 cities) and enable further growth |
Risk
Alignment RiskThe company may shift its business to less impactful segments (e.g., older business vintage, larger turnover, more credit history). The company is expected to shift towards SCF customers, who are less likely to be lowincome; nonetheless, we still expect meaningful reach to low-income term loan customers Execution RiskThe company may not grow as quickly and efficiently as expected, limiting scale of impact Unexpected Impact RiskAs the company grows, we will need to monitor credit quality and customer protection risks. |
Impact score
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Impact score (at point of investment)
The Impact Score is a tool to help us manage our performance against our strategic impact objectives. It is designed to incentivise investments that support our productive, sustainable, and inclusive objectives. The Impact Score shown is based on the 2022-2026 Impact Score methodology. You can find out more here. The Impact Score is published for investments made from 2022 onwards. The Impact Scores are calculated at the point of investment. We publish the Impact Scores of new investments annually, once the information has been externally assured by an independent third party. |
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Environmental and social information
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Environmental and social summary
A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
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Environmental and social risk
A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.
Environmental and social summary
Our focus is on the further development of the Flexiloan's environmental and social (E&S) management system. We agreed an E&S action plan focused on updates to internal safeguarding and grievance mechanisms, including the Client Protection Principles.
Environmental and social risk
Medium-Low
Reporting and Complaints Mechanism
The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.
For any other general enquiries contact us at [email protected]
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Key facts
- Last updated
:
When the last quarterly update of the website database occurred.
- June 2026
- Project number
:
An identifier number shared by investments in the same project.
- D6537
- Status
:
The current status of the investment (green flag for active and red flag for exited).
- Active
- Region
:
The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
- South Asia
- Country
:
The countries where the investment delivers impact. Where impact is delivered in multiple countries, this is indicated.
- India
- Sector
:
We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.
- Financial services
- Sub sector
:
The sub-sector that the investment is made into; this provides a more granular level of detail than the ‘sector’ information
- Specialized Finance
- Investment policy :
- Growth
- Investment type :
- Equity
- Start date :
- September 2024
- Amount :
- $10.68m
- Currency of investment :
- INR
- Domicile
:
The company or investment fund’s place of incorporation.
- India
We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.
Type of investment portfolio that each investment is made under. Since 2014, we have run two investment portfolios: Catalyst and Growth. In addition, our Kinetic Portfolio enables us to manage concessional investment strategies.
For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.
For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.
For direct equity investments, this is the date at which British International Investment exited the investment.
For debt investments, this is the date at which the final debt repayment was made.
For funds, this is the date at which the fund was terminated.
For underlying fund investments, this is the date at which the fund manager exited the investment.
The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.
For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.
The currency in which the investment was made.
- Last updated
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Gender and climate finance facts
- 2X gender finance
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Indicates whether the investment is ‘2X qualified’ using the 2X Challenge criteria. You can find out more here. It only applies to investments made from 2018 onwards, when the 2X Challenge was first launched.
- Fully qualified
- 2X qualification criteria:
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2X Criteria the investment qualifies under. See 2X Criteria for more information.
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- Leadership — Senior Management
2X threshold 30%: Investee already meets threshold - Employment
2X threshold 25%: Investee already meets threshold - Indirect/Portfolio
2X threshold 30%: Investee commits to meet threshold - Governance and Accountability
- Product and Services
Investee already meets threshold
- Leadership — Senior Management
- 2X sector
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Indicates the specific 2X sector benchmark the investment qualifies under. See 2X Criteria for more information.
- Financial and Insurance Activities
- 2X country
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Indicates the specific 2X country benchmark the investment qualifies under. See 2X Criteria for more information.
- India
- 2X gender finance
Related investments made by BII into this company:
| Investment name | Commitment | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
| Investment 02 | $4.5m | South Asia | Financial services | September 2025 | Exited |
