Facebook- the American social-media giant has been looking at early-stage start-ups to put on line of its investment plans. It is focused on backing business models if they have potential for growth not only in India, but those which can also be scaled up globally. Facebook has been looking for young companies across all business categories to invest in. It invests approximately between $25 million to $50 million in an Indian startup.
It has launched Facebook on Friday which is an India-only ‘small business loans initiative’ for early stage companies so that they can get quick access to credit through independent lending partners for their business expansion.
For this it has partnered with Indifi, which is a leading online lending platform so that small businesses can get loans between Rs 5 lakh and Rs 50 lakh at a pre-defined interest rate ranging between17-20% per annum. Indifi will not be chargeing any processing fee by the applicants.
India is the first country that Facebook has been focussing on for investment. The reason behind this is that India stands out due to the pace in which innovation and transformation is happening in the country. It has led facebook to make unique investments and bets that it has not indulged in any other part of the world before. This initiative of Facebook had started with Meesho and Unacademy which are both unicorns now.