Rubber India Weekly
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Jun 02, 2021
Flipkart expands benefits for MSME sellers through its financing programme

Flipkart has further expanded benefits under its seller financing program, 'Flipkart Growth Capital', for its sellers to raise credit ranging from Rs. 5 lakh to Rs. 5 crore.

The e-commerce company on Friday said in order to provide the benefits, Flipkart has partnered with multiple lenders, based on the business needs of sellers.

The new program enables sellers to get secured and unsecured loans at interest as low as 9 per cent. 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, Ranjithm 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."

'"The application process is now faster, and they can choose from a wide set of lenders as per their requirements." he added.

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