Huey Tech Pvt. Ltd.

Based in India, Huey Tech Pvt. Ltd. is a digital financial services company offering innovative loan solutions tailored to various customer segments, including salaried individuals and small businesses. Huey Tech Pvt.

Ltd. operates in the financial technology space, providing digital loan solutions. Founded by Mahesh Shukla, the company is headquartered in Noida, India. In February 2021, the company raised INR 130.

000 mn in an Angel funding round, marking the total amount raised by the company to INR 130. 000 mn. The firm has completed 2 deals to date. PayMe, a product of Huey Tech, offers a variety of digital financial products designed to deliver seamless loan solutions tailored for different customer segments, including salaried individuals, self-employed professionals, and women.

Its main offerings include Personal Loans, Short Term Loans, Empowerment Loans, MSME Loans, and Credit Assist services. Each product is designed to meet specific borrower needs, with Personal Loans aimed at individuals needing funds for personal expenses and Short Term Loans available for urgent cash needs. The Empowerment Loan specifically supports women entrepreneurs, while MSME Loans target micro, small, and medium enterprises. The Credit Assist service helps users assess and enhance their credit scores.

PayMe operates primarily in urban and semi-urban areas across India, serving key cities such as Mumbai, Delhi, Bangalore, and Hyderabad. PayMe's revenue is generated through interest income from its diverse loan products and related services. The company's operational model allows customers to apply for loans through its digital platform, with funds transferred directly to their accounts upon approval. The streamlined loan disbursement process enhances transaction volumes, and revenue is derived from the repayment of loans, where interest rates are based on the borrower's creditworthiness and the specific loan type.

The Personal Loan and Short Term Loan products constitute significant portions of the company's revenue, each with distinct pricing structures that account for borrower profiles and tenure. Huey Tech Pvt. Ltd. aims to expand its product offerings and market reach.

The company plans to launch new products designed to meet evolving customer needs, with details on specific launch timelines to be announced. Additionally, it is targeting expansions into new geographic regions within India to broaden its customer base. The funds raised in the February 2021 Angel funding round are earmarked for increasing the company's paid-up and approved equity capital as well as facilitating this expansion.