Parrami Finance, a registered NBFC and financial solutions provider, has announced the launch of its new working capital program tailored specifically for startups registered under the Department for Promotion of Industry and Internal Trade (DPIIT) to empower start-ups by addressing their immediate financial needs and enabling them to scale their operations seamlessly.
The process focus is to provide revenue-generating DPIIT-recognized startups with accessible, flexible, and affordable working capital loans to grow India’s entrepreneurial ecosystem and contribute to the nation’s vision of becoming a global innovation hub.
As of June 30, 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized a total of 1,40,803 start-ups across India. In the past two years, the number of DPIIT-recognized start-ups has increased significantly to 26596 in 2022 and 34842 in 2023 with the total number of start-ups recognized over the two-year period to 61,438.
“We understand the unique challenges that startups face, especially in their early stages. With this new working capital program, we are committed to bridging the financial gap and equipping startups with the resources they need to innovate, grow, and succeed,” said Kamal Mehta, Director of Parrami Finance.