Fexo | Financial Intelligence & Commercial Credit Platform

THE FEXO IMPACT

Deeper Credit Intelligence. Faster Appraisals. Higher Lending Capacity.

Fexo accelerates credit appraisals, deepens financial insights and enables institutions to scale lending without proportionately expanding credit teams.

70-90%

Faster Appraisal Preparation

Reduce turnaround time for financial analysis and credit assessment preparation.

Multi-Source

Financial Intelligence

Turn scattered information across docs, data, conversations and images into financial insights.

100%

Evidence Traceability

Link every observation to supporting evidence for transparent credit assessments.

SOLUTIONS FOR YOUR INDUSTRY

Purpose-Built Intelligence for Financial Institutions.

From commercial credit to financial audits and insurance, Fexo transforms complex information into usable intelligence for critical decisions.

Banking & Lending

Accelerate commercial credit appraisals, deepen financial analysis, and monitor risk to scale lending confidently.

FexoCreditAI – Credit appraisal intelligence
FexoFinAI – Financial analysis & insights
FexoRadar – Borrower risk monitoring

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Audit & Compliance

Analyze financial records, verify compliance, and generate verifiable insights for public sector and enterprise audits.

Financial statement & disclosure analysis
Cross-document validation & reconciliation
Risk insights & audit observations

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Insurance

Extend Fexo's intelligence to workflows involving claims, document verification, and underwriting support.

Multimodal document analysis
Cross-document checks & validation
Claims & underwriting insights

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CUSTOMER VOICES

Trusted by Institutions. Validated in Practice.

What our customers say about working with Fexo.

“All the 3rd party reports were read and assessed accurately. The financials were matched and the output was satisfactory.”

Risk Head Shivalik Small Finance Bank Banking & Lending

“We did an evaluation with known players in the market, and with a couple of startups. We selected Fexo because the accuracy of their output is very good. Also, they were responsive to get the final output in our format. We are integrating them with our LOS now for seamless user journey for our analysts.”

Underwriting Head Indifi Capital Financial Analysis

“The project met our expectation and the platform demonstrated the capability as per the scope. The technical support and execution by Fexo GenAI team were found to be satisfactory. The platform demonstrated potential to significantly reduce the turnaround time for preliminary data scrutiny and risk identification.”

Director O/o of DG of Audit – New Delhi, CAG of India Audit & Compliance

EXPERIENCE FEXO

Beyond Documents. Into Financial Intelligence.

Explore how Fexo turns complex financial information into usable insights for credit analysis and decision-making.

Sample: Financial Statements

Illustrative borrower: ABC Manufacturing Ltd. · FY 2023-24

Blurred scan of a borrower's balance sheet and profit and loss statement — 23-page scanned financial statement, as received from the borrower.

Reclassified in MCA format (₹ Cr)

Statement of Profit & Loss · p. 14
Particulars	FY 2023-24	FY 2022-23
Revenue from operations	8.40	7.47
EBITDA	0.67	0.82
Finance costs	0.38	0.31
Profit after tax	0.18	0.33

Balance Sheet (extract) · p. 12
Particulars	31 Mar 2024	31 Mar 2023
Total borrowings	3.60	3.10
Net worth	2.00	1.85
Trade receivables	2.12	1.33

Note 36 · Related parties · p. 33

Sales to group company: ₹0.95 Cr

Receivable at year end: ₹0.55 Cr

Note 34 · Contingent liabilities · p. 31

Bank guarantees: ₹0.60 Cr

Disputed GST demand: ₹0.25 Cr

Financial Evidence

Illustrative borrower: ABC Manufacturing Ltd. · Apr 2023 – Mar 2024

Sample source documents: balance sheet, GSTR-3B return and bank statement — Sample documents as received: financial statement, GST return and bank statement.

Financial Statements (audited)

ABC Manufacturing Ltd. · FY 2023-24

Annual revenue ₹8.40 Cr

GST Returns (GSTR-1 & GSTR-3B)

ABC Manufacturing Ltd. · Apr 2023 – Mar 2024 · 12 returns

Reported turnover ₹7.60 Cr

Bank Statements

ABC Manufacturing Ltd. · 2 current accounts · Apr 2023 – Mar 2024

Credit transactions ₹7.25 Cr

Three sources. Different figures. What needs attention?

Borrower Financial Profile

Illustrative borrower: ABC Manufacturing Ltd.

Sample source documents: balance sheet, GST return, bank statement, sundry creditors summary, commercial bureau report and credit rating press release — Sample documents as received: financial statement, GST return, bank statement, creditors summary, bureau report and rating rationale.

Financial performance · FY 2022-23 → FY 2023-24
Revenue growth	12.4%
EBITDA margin	11% → 8%
Debt-to-equity	1.8x
Receivable days	65 → 92

Supporting information

Audited Financial Statements

ABC Manufacturing Ltd. · FY 2022-23 & 2023-24

GST Returns (GSTR-1, 3B)

ABC Manufacturing Ltd. · Apr 2023 – Mar 2024

Bank Statements

2 current accounts · Apr 2023 – Mar 2024

Commercial Bureau Report

ABC Manufacturing Ltd. · pulled Jun 2024

External Rating Rationale

BBB- / Stable · Jun 2024

Stock & Book-Debt Statements

Monthly · Apr – Sep 2024

What do these trends indicate about the borrower?

FexoLM Analysis FexoLM Credit Analysis

Select Analyze to see the financial insights generated from the sample information. Compare the financial sources and identify differences that require review. Generate an evidence-backed assessment of financial performance and potential credit risks.

Trends & ratios

Revenue (₹ Cr)

7.47

8.40

▲ 12.4%

EBITDA margin (%)

11.0

8.0

▼ 3.0 pts

Debt / equity (x)

1.68

1.80

▲ 0.12x

Receivable days

65

92

▲ 27 days

Observations

Revenue growth. Revenue rose 12.4% to ₹8.40 Cr (FY 2022-23: ₹7.47 Cr).
Profitability. EBITDA margin fell from 11.0% to 8.0% and profit after tax dropped 45% to ₹0.18 Cr, as finance costs rose 23%.
Debt / equity. Leverage rose to 1.80x from 1.68x: borrowings grew ₹0.50 Cr against a ₹0.15 Cr rise in net worth.
Working capital. Receivable days stretched from 65 to 92; receivables grew 59% against 12.4% revenue growth.
Related party. ₹0.95 Cr (11% of revenue) was sold to a group company, and ₹0.55 Cr of it is still receivable.
Contingent liability. ₹0.85 Cr of off-balance-sheet exposure (bank guarantees and a disputed GST demand), equal to 43% of net worth.

Revenue discrepancy: 9.5%

Review timing differences and reconcile source records.

Reconciliation (₹ Cr)

Financial stmts 8.40 base

GST returns 7.60 −9.5%

Bank credits 7.25 −13.7%

Normalize before comparing. These measures are not directly comparable: book revenue is accrual-based and excludes GST, GST turnover covers supplies reported in returns, and bank credits include non-revenue receipts (loans, capital, transfers) while missing unbanked receipts. They require normalization before direct comparison.

Potential reasons for the differences

Receivables build-up. Receivables rose ₹0.79 Cr during the year: sales booked but not yet collected explain most of the ₹1.15 Cr bank gap.
Timing. March invoices booked in FY 2023-24 but reported in the April GST return.
Related-party settlement. Only ₹0.40 Cr of ₹0.95 Cr related-party sales was received through the bank.

Triangulation (₹ Cr)

Measure	Fin. stmts	GST	Bank	Status
Sales / turnover	8.40	7.60	7.25	⚠ Review
Purchases	5.10	4.85	4.70	✓ In range
Related-party sales	0.95	0.95	0.40	⚠ Review

Concentration (% of sales / purchases)

Top 5 customers	Share	Top 5 suppliers	Share
Customer A	18%	Supplier A	22%
Customer B	14%	Supplier B	15%
Group company*	11%	Supplier C	12%
Customer D	9%	Supplier D	8%
Customer E	7%	Supplier E	6%

Related parties (₹ Cr)

Party	Nature	Amount	Status
Group company*	Sales	0.95	⚠ Review
Director-owned entity	Rent	0.12	⚠ Review
Promoter	Unsecured loan	0.30	⚠ Review

Shares of sales and purchases from GST returns and bank statements. *Related party.

Profitability pressure. Revenue grew 12.4% but EBITDA margin fell from 11% to 8%; interest cover (EBITDA / finance costs) weakened from 2.6x to 1.8x.
Working-capital risk. Receivable days rose from 65 to 92. The latest stock statement shows 28% of book debts older than 90 days, with drawing-power utilisation at 94%.
Leverage consideration. Debt-to-equity is 1.8x after a new ₹0.50 Cr term loan in Jan 2024; the bureau report confirms the loan and shows no overdues in the last 24 months.
Triangulated data. GST turnover is 9.5% and bank credits 13.7% below book revenue, mostly explained by the ₹0.79 Cr receivables build-up. Only 42% of related-party sales were collected through the bank.
Web intelligence. The rating rationale flags customer concentration; public records reviewed show no litigation beyond the disputed GST demand already disclosed.

Credit Analyst Takeaway

Growth is real but of lower quality: margins, collections and leverage all weakened in FY 2023-24. Before appraisal, verify the ageing of related-party receivables, the status of the disputed GST demand and drawing-power headroom.

Interactive concept with illustrative data only, not an actual FexoLM inference or a representation of validated product output. Interactive layout concept. Figures are illustrative; bank credits and reported turnover are not necessarily directly comparable without normalization. Illustrative credit analysis, not a real borrower assessment or an actual FexoLM output. Final credit decisions remain with the institution.

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POWERED BY FexoLM

Beyond Data Processing. Built for Financial Intelligence.

FexoLM, our proprietary intelligence engine, connects and analyzes complex financial information across multiple sources – delivering deeper insights, consistent analysis and evidence-backed outcomes.

Financial Data Understanding

Interpret financial statements, documents, tables, images and voice – even across inconsistent formats.
Evidence-Backed Intelligence

Every insight is linked to its source for transparent, reviewable analysis.
Cross-Source Triangulation

Connect and compare information across multiple financial sources to identify relationships, inconsistencies and emerging risks.
Consistent & Configurable

Combine deterministic calculations with contextual analysis, tailored to your institution's policies and templates.
Adaptable Workflows

Support credit, audit and analytical workflows, with flexibility to match your processes.
Private by Design

Deploy on-premise or in a private cloud, with zero data egress and full control over your data.

Enterprise Security & Data Control

ISO/IEC 27001:2022 certified. Deploy on-premise or in a private cloud, with zero data egress and strong governance for regulated institutions.

Zero data egress
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ISO/IEC 27001:2022 certified

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INSIGHTS & RESOURCES

Perspectives on Financial Intelligence

Insights on commercial credit, financial analysis, risk intelligence and emerging technologies shaping financial institutions.

Financial documents connected into actionable financial intelligence

Industry Perspective • 10 min read

From Financial Documents to Financial Intelligence

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Industry Analysis • 10 min read

A History of Intelligent Document Processing

Trace document automation from paper and filing cabinets through OCR and cognitive automation to AI-first understanding, and see why each era created new productivity challenges.

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Financial Intelligence.
Reimagining Commercial Credit.

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