# Who can borrow?

1. **Lending Fintechs:** Fintech platforms that **focus on offering credit products** directly or in partnership with financial institutions. These include solutions like **invoice financing, supply chain financing, SME lending, BNPL (Buy Now Pay Later), embedded lending, and working capital loans**. They often leverage data and technology to underwrite, disburse, and manage credit more efficiently.<br>
2. **Non-Lending Fintechs:** Fintech platforms that offer financial services other than lending. These can include **payment processing, expense management, payroll solutions, neobanking, wealth tech, and financial infrastructure tools**. While they don’t directly extend credit, many work with financial institutions or lenders to enable embedded financial services within their platforms.<br>
3. **Private Credit Funds:** Investment vehicles that specialize in providing **non-bank debt financing** to businesses. These funds invest in **private debt instruments** such as term loans, structured credit, or asset-backed financing. Unlike traditional lenders, private credit funds often target higher-yield opportunities and operate with more flexible terms, catering to mid-sized or underserved borrowers.