XtracapNeo Last-Mile Financing

About this app

Xtracap Neo is an app that empowers Distributors to onboard dealers in their network via referral code and provides access to instant working capital finance to them and their respective dealers. We have a 360-degree financial health approach towards enabling the growth of businesses with access to on-demand financial services. By analyzing the distributors, Xtracap Neo provides deep business insights and categorizes their dealer network to assist in providing the dealers with invoice financing solutions.
Xtracap Neo provides a dashboard where the distributor can view their entire dealer network with real-time status updates on invoices financed, payments done, and remittances received.

360-degree FHC
XtracapNeo offers a paid financial health check for a small business owner. We do a detailed check of the credit bureau report, bank statement, and GST data and offer a detailed report.

Credit Facility
We provide short-term unsecured business loans (working capital limit) to businesses on a revolving basis in partnership with IIFL. The business model is designed to provide Invoice financing for business and monitor 100% end utilization of the funds, calculated based on the 360-degree FHC analysis which provides an overall insight on the creditworthiness of customers.
We offer 100% transparency in its transactions, with all disbursement done to GST suppliers against invoices presented. We also ensure flexible repayment cycles as per the choice of the customer and the entire business loan can be repaid in different tenures up to 180 days (about 6 months). We do not offer personal loans.

PRODUCT DETAILS


Credit line: ₹ 100,000 – 100,00,000
Credit Tenure: Up to 180 days
Repayment Period: Flexible Repayments
Reducing Annual Interest Rate: 13%-18% daily compounding


Here is an example of how XtracapNeo’s business loan is structured:

BUSINESS LOAN CALCULATION
Credit Line: ₹ 100,000
Credit Days per Invoice: 30 Days
Repayment Days: Flexible

Invoice Financing
Invoice 1: ₹ 10,000 @ 18% pa for 30 days on weekly EMI basis
Per week EMI of ₹ 2500
Overall Interest Amount Paid: ₹ 150.00 (daily reducing basis)
Total Amount Paid: ₹ 10,150.00

Invoice 2: ₹ 50,000 @ 18% for 30 days on a weekly EMI basis
Per week EMI of ₹ 12500
Overall Interest Amount (30 days): ₹ 750.00 (daily reducing basis)
Total Amount Paid: ₹ 50,750.00