The e-commerce giant claims that with the help of tech synergies, sanctions happen instantly and disbursals within 24 hours of the application.
Flipkart has further expanded benefits under its seller financing program, ‘Flipkart Growth Capital’ for its seller partners. In order to provide the benefits, Flipkart has partnered with multiple lenders, based on the business needs of sellers. According to a release by the company, these partnerships have enabled the ‘Growth Capital’ program to provide fresh credit options to sellers ranging from ₹5 lakh up to ₹5 crore.
The new program enables sellers to get secured and unsecured loans at interest as low as 9%. The e-commerce giant claims that with the help of tech synergies, sanctions happen instantly and disbursals within 24 hours of the application.
Commenting on the announcement, Ranjith Boyanapalli, Senior Vice President Marketplace, Fintech & Payments Group, Flipkart, said, “E-commerce has played a transformational role for sellers and MSMEs in recent years, especially since the pandemic, by providing new avenues for their growth and expansion. The scope and the benefits of the Growth Capital program will help them speed up cash flows and manage procurements better."
Boyanapalli further said, "the application process is now faster, and they can choose from a wide set of lenders as per their requirements. At Flipkart, we continue our efforts to democratise our marketplace platform to not only make it more inclusive but also build on technology and innovation to help our seller partners with their digital journeys and ambitions."
The company claims that the application process has also been made simpler for the sellers. Flipkart redirects the interested sellers from its portal to the lender’s portal.