InterNex hits a key milestone, and underserved businesses get more than just money
In under six months, InterNex's solution was up and running. It reduced average loan-origination cycle times by almost 40%, bringing customers from application to funding in just five days. And it delighted borrowers with its user-friendly portal, Velocity™. As a result, the fintech grew by 150% annually. in just five years it has delivered more than $1 billion in client funding through the platform.
"Our momentous $1 billion milestone is a testament to the value our solution brings to SMBs across the US," says DeDomenico. "Terrific partners like Genpact have played a key role in our success."
What's more, InterNex provides more than one-third of its funding to women- and minority-owned businesses. "As an Asian and female co-founder of InterNex, I'm particularly proud of the value we have brought to women- and minority-owned businesses," says Lin Chua, co-founder and president, InterNex Capital. "Genpact's expertise in financial services, cloud services, and process operations helped us deliver a superior business model to best service our clients and drive operations at scale."
InterNex's small-business customers are also thrilled. "When we make a draw request with InterNex, we usually get the funds within 10-15 minutes," says John Falcone, chief executive officer and chairman of the board at Falcone Capital Holdings, LLC, a holding company of award-winning, technology-driven international and domestic transportation brands. "Having access to the Velocity™ portal is amazing. It's like having a supercharged accounting system at our fingertips at all times."
Together, InterNex and Genpact deliver working-capital facilities to SMBs with speed, transparency, and ease – allowing them to procure, manage, and draw down on those facilities online, and receive their funds faster.
Going forward, InterNex plans to grow through digital partnerships. It is in the process of integrating its solution into the platforms of SMBs' digital service partners. For example, InterNex recently announced a partnership with UTECH Global, a provider of transportation-management software and electronic-logging devices to US and Canadian transportation companies. With Genpact's help, InterNex will embed its Velocity™ platform into UTECH's to provide a turnkey solution for organizations looking for a better way to manage their transportation businesses while strengthening their working capital.
With each innovation, InterNex is charging toward its next goal – delivering $2 billion in client funding through the platform. Genpact will be right by its side, every step of the way. And together, the sky's the limit.
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