Udaipur-based WeCredit joins Indian govt-backed ONDC to democratize financial services

Udaipur-based WeCredit has joined the Indian government-backed ONDC (Open Network for Digital Commerce) Network as a Buyer App with the aim of democratizing financial services across the country. 

The strategic integration will enable users—both individuals and businesses—to seamlessly access borrowing and loan services through the ONDC Network, providing a streamlined experience for those seeking financial solutions, the release notes.

"We are thrilled to join the ONDC Network and view this as a significant opportunity for investment and growth within our overall business strategy," said Mukul Devpura, Co-founder of WeCredit.

Focused on simplifying the loan application process

The entry of WeCredit into the ONDC Network marks a significant shift in the digital finance landscape.

The startup will focus on simplifying the loan application process and enhancing financial accessibility, empowering users to meet their financial goals with greater efficiency.

The development aligns with ONDC’s broader mission of fostering a more open and inclusive digital economy

“India is at the cusp of a digital transformation, and we are excited to be part of a movement that aims to make e-commerce more accessible and fairer for everyone—citizens and businesses, no matter their size or location. ONDC is not just about business growth; it’s about contributing to a revolution in how commerce is conducted in India, fostering collaboration, inclusivity, and innovation," Devpura added.

Plans to expand offerings

As part of its phased approach, WeCredit will initially focus on credit products while planning to expand its offerings to include investment opportunities, insurance, and select retail domains in the near future.

In addition to serving as a Buyer App, WeCredit will operate as a Technology Service Provider (TSP) on the ONDC Network. This role allows WeCredit to support businesses that wish to engage on the Network without the need for extensive in-house technology infrastructure. 

T Koshy, MD & CEO of ONDC said, "We are committed to advancing ONDC's objectives of democratizing digital commerce and promoting financial inclusion. With WeCredit's capabilities, both small and large businesses will be better equipped to navigate the digital financial landscape, opening new opportunities for participation and growth."