Nepal’s First Online Reverse Factoring Platform “QuikBhuktani” to be Introduced

Established in 2004, F1Soft International is Nepal’s leading and largest Financial Technology Company and also a pioneer of mobile financial services in the country. The company employs over 400 people.

F1Soft has partnered with UKaid Sakchyam Access to Finance Programme (Sakchyam) to introduce “Online Reverse Factoring Platform” to enhance access to finance for MSMEs in Nepal.

Under this partnership, F1Soft International will develop and operate an online platform titled QuikBhuktani. The solution will link small and medium suppliers of large businesses/ anchor firms, and banks through an online platform to enable reverse factoring, facilitating instant access to credit for suppliers.

Using this online system, Banks can offer low-risk short-term loans to suppliers, who sell their goods/services to large businesses/anchor firms on credit, and they will have convenient and non-collateralized access to financial services backed by accepted invoices.

Sakchyam is a UKaid-funded access to finance programme. It is being implemented by Louis Berger for DFID Nepal, in partnership with local and international institutions.