India’s First-Ever NBFC Factor


  • Rajasthan-based 121 Finance became India’s first fintech-led NBFC to convert from an Invest and Credit Company (ICC) to an NBFC-factor.
  • The fintech company received the Certificate of Registration (CoR) under its Registration of Factors (Reserve Bank) Regulations 2022.
  • The NBFC-Factor addresses the most significant challenge most businesses suffer from, i.e., arranging short-term funds for MSMEs, without any collateral.
  • Earlier, the factoring was offered only to the large corporates but with this, factoring was available to MSME sectors.
  • As it is available to MSME sectors, it can sell receivable invoices to 121 finance without any collateral.

Facts to know:


  • 121 finance was established in 1984.
  • Headquarters of 121 finance: Jaipur, Rajasthan.
  • CEO of 121 finance: Dr.Ravi Modani.
121 Finance Company
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