We know how online marketplaces are scouting for sellers this year. They are going all out to educate the skeptical ones and empower the existing ones to grow more. To ease the working capital issues, many are coming out with financial assistance for sellers.
The latest offering is from ecommerce giant Snapdeal through its tie-up with India Infoline (IIFL), financial services company. Merchants can get working capital loan in as less as three minutes.
Infoline has joined the other financial partners helping Snapdeal with the Capital Assist initiative. As per an update in March, the online marketplace had helped around 150 sellers raise Rs 50 crore working capital since inception in August 2014.
“Through the tie-up with Snapdeal we are able to offer our services to large number of sellers registered with Snapdeal,” said Rajashree Nambiar, CEO, India Infoline Finance. “Going forward, we look to grow our loans through strategic tie-ups via e-commerce platforms.”
Snapdeal sellers can now look at availing loans of average Rs 100 crore or more. IIFL relies on multiple data points to approve loans, which are analysed with an in-house robust and complex decision making engine.
No comments:
Post a Comment