Indian fintech start-up EnKash has launched a corporate credit card designed for SMEs / MSMEs and start-ups.
The offering, dubbed Freedom Card, was rolled-out following a beta phase that ran for the last few weeks.
Freedom Card will provide the businesses with the opportunity to avail credit facility to fulfil immediate requirements and maintain financial liquidity.
According to the company, the card can be used for making all business payments. Companies can use it for supplier, utility, digital and cloud payments and fulfil other business expenses.
Additionally, Freedom Card provides the holders with free access to EnKash platform to automate entire accounts payables or collection processes.
EnKash co-founder Naveen Bindal said: “Currently banks offer corporate credit cards and we partner with most of them to enhance the experience.
“While we will continue enhancing our capabilities for these bank partnerships, we realised that specific products are required to address uses cases which are peculiar to underserved SMEs & startups as their requirements are different.
“These segments are not able to benefit fully with the existing solutions in the market, be it for enhancing their short-term credit requirements or convenience or just simply getting access to a commercial credit card.”
Established in 2017, EnKash is a card-focused fintech company. It provides businesses with commercial/ purchase cards to complete all payments.
The company is backed by Mayfield India and Axilor Ventures as investors.