Creating a success story isn’t something that can be done within hours, days or months. It takes years to establish a name and create a story that can be remembered for years. While the idea of creating one such name hit the founding team of Pink Hash Financial Services, they too had the similar vision of establishing it as a trusted and conquering name in the industry. Pink Hash was founded in 2009 as an entity that offers advisory support to small and medium enterprises (SMEs) for raising finance. Headquartered in Mumbai, this consulting firm renders a strong set of solutions to SMEs that need support for their finance related requirements.
Overcoming the Initial Struggle
The founding team of Pink Hash, Mandar Kelkar and Priya Gandhi decided to venture into debt syndication advisory for manufacturing, infrastructure and real estate companies to bridge the gap while raising funds despite the availability of all kinds of loans in the market. To deal with this, the company extended solutions that enabled SMEs operating in these sectors to raise funds more conveniently. In its years of infancy, the company faced many challenges like any other newly commenced business. “We had a difficult time initially as ours was a new firm and it was tough to find traction in the industry.” Mandar counts unavailability of finance teams or approachable finance personnel with the clients as another major challenge.
Thus, to deal with this, the team at Pink Hash had to take up the task of convincing the clients to get dedicated finance professionals or to hire them to handle finance on their behalf.
Making a Mark in the Industry
Beyond overcoming the challenges befalling its way, this consulting firm has also been dealing with the hurdles that its clients encounter while raising funds. Pink Hash hasn’t just made funds accessible for SMEs but also made a mark in the industry by getting repeat business from its clients. The major sectors that Pink Hash caters to are turnkey, textile manufacturing, hospitality, infrastructure and trading among others. In its service portfolio, the company counts enhancement of working capital, advisory on debt, advisory on project finance and other solutions for debt syndication. Mandar adds, “We are regularly in touch with a few investors who invest some money on a temporary basis in companies under a crunch. We get the enhancement from bank and shift them to another bank and try to pay off the investors.”
Pink Hash hasn’t just made funds accessible to SMEs but has also made a mark in the industry by getting repeat business from its clients
While Pink Hash has been delivering advisory services for debt syndication, it aims to expand its service portfolio moving ahead. During the span of next one and a half years, the organization is looking at structured funding products and private equity. With this, it would be able to help companies that are looking at raising finance by sources such as venture funding or private equity. Besides, another major inclusion in its roadmap is lending a helping hand to companies looking forward to deploy money. “We are looking at how we can deploy their money or in future how we can manage their funds in SMEs or projects,” concludes Mandar.