Parrami Finance Launches Working Capital Program For DPIIT-Registered Start-Ups

New Delhi, Jan 2 (KNN) Parrami Finance, a registered Non-Banking Financial Company (NBFC), has introduced a specialised working capital program designed for start-ups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT).

The initiative aims to address immediate funding requirements and facilitate operational scaling for eligible start-ups.

The program specifically targets revenue-generating DPIIT-recognised start-ups, offering them accessible and flexible financing solutions.

This move comes at a significant time in India's start-up ecosystem, which has witnessed substantial growth in recent years.

According to official data, DPIIT-recognised start-ups reached 140,803 by June 30, 2024, with 26,596 start-ups recognised in 2022 and 34,842 in 2023, totalling 61,438 new registrations over the two-year period.

"We understand the unique challenges that start-ups face, especially in their early stages,” said Kamal Mehta, Director, Parrami Finance Pvt Ltd.

“With this new working capital program, we are committed to bridging the financial gap and equipping start-ups with the resources they need to innovate, grow, and succeed," Mehta added.

The initiative aligns with India's broader economic transformation, which has been shaped by key government programs including Make in India, Digital India, and Start-up India.

Recent reforms such as the implementation of the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code have enhanced India's business environment, contributing to an improved Ease of Doing Business ranking.

Parrami Finance, positioned as a forward-thinking financial institution, specialises in providing customised financial solutions to businesses.

The company has established itself as an innovative player in addressing the financial needs of SMEs, start-ups, and entrepreneurs, supporting their growth trajectories while contributing to broader economic development.

(KNN Bureau)