“(In embedded retail) Flourish Ventures has invested round $3million in Apnaklub and QueueBuster“ , stated Harsh Gupta, Investor director (India) at Flourish Enterprise. “By embedded finance platforms, a kirana retailer or the nook store can get options to purchase, handle and promote their items”
A survey by the enterprise fund of 200 kirana shops and 198 of their prospects present that 88 p.c of these surveyed strongly agree that the nook store is important to their group and 92 p.c plan to buy way more from such shops. The survey additionally discovered that prospects store steadily at their native kirana retailer versus solely 11% who store on-line
Embedded finance can unlock alternatives which have eluded conventional banks. Among the many challenges in conventional finance, small enterprise informality results in much less general entry to monetary companies. In embedded finance there’s integration into shopkeeper operations making monetary companies seamless and intuitive.
Fintech funded by Flourish offers tech platforms to resolve lengthy standing shopkeeper challenges. Flourish constructed a holistic digital options framework to handle essential shopkeeper wants. “These options can double shopkeeper earnings, resulting in huge impression. Nook outlets signify a major share of grocery gross sales globally—as a lot as 90% in nations resembling India and Indonesia” Gupta stated, pointing to their survey findings. “Flourish Ventures have invested $26 million globally throughout six firms globally in embedded finance in retail “
Flourish Ventures launched Digitizing the Nook Store analysis in partnership with Bain & Firm and 60 Decibels for its world survey and in addition partnered with ApnaKlub to higher perceive nook outlets throughout the globe and share learnings on how digital corporations can serve their wants.
