Whrrl (Thane, Maharashtra)
AI for SCM
Whrrl's WHR Finance suite is the only integrated digital platform of its type across the globe that covers the entire journey of a borrower trying to avail of Warehouse receipt finance. Our Warehouse Receipt Finance Suite has three essential technical elements: -
- 1. Blockchain Backend Platform
- 2. Digital Lending App for Borrowers
- 3. E-Marketplace
The blockchain network tokenizes all the commodities deposited in a warehouse and ensures that currently prevalent banking frauds are entirely eliminated thereby unlocking credit flow to the ecosystem while digital lending helps bring financial services to the doorstep of the borrowers.
In addition, smart contracts make it possible to offer loans to borrowers as soon as the deposits are completed at warehouses. Lien creation/vacation/transfer on collateral becomes automated. Further, the availability of warehouse deposit applications can be used by banks to send targeted marketing communication to prospective borrowers. Further, the tokenized assets can be securitized & traded across the globe in a seamless fashion.
The borrowers (Farmers/Traders/Exporters/Producer Companies) connect to the network using Mobile App to make an application for loan against warehouse receipts to the banks on the blockchain network. The Mobile App is connected to banking partners through APIs thus helping banks receive and dispose of loan applications in real-time.
Finally, the e-Marketplace allows the farmers/borrowers to trade their farm produce stored in warehouses without incurring the cost of loading, unloading, transportation, local market taxes etc.