Purple Finance Limited was incorporated on November 09, 1993. It is registered with the Reserve Bank of India as a non-deposit taking NBFC and started its limited lending activities in 2013. In 2022, five like-minded professionals came together with the existing founder of Purple Finance, Amitabh Chaturvedi, to build a Ministry of Micro, Small & Medium Enterprises (MSME)-focused, digital-first NBFC, catering to micro and small enterprises with secured business loans. 

It will help put the power back in the hearts, minds, and wallets of micro and small business entrepreneurs. Although the MSME segment contributes substantially in the process of nation-building, much remains to be done to address their financing woes. With its innovative and digital-first approach at Purple Finance, it would ensures easier and simplified funding options for the micro and small business enterprise at competitive pricing, faster credit decisions and transparent processes. It is embarking on a quest to empower its MSME customers who aren’t served well by traditional lenders and/or are trapped in a vicious circle of high-cost debt at the hands of informal and predatory moneylenders.

Business area of the company

The company is building reliable, accessible and technology-enabled financing for Micro & Small business owners. It is the first Indian NBFC to provide digitised secured microloans that offer easy and paperless on-boarding, transparent commercials and conditions, simple and easy to understand products.