Tie-up aims to offer collateral-free working capital loans to online sellers & retailers within 72 hours
India, August 29, 2016: Lendingkart Group has announced a strategic partnership with Unicommerce, the Delhi-based multichannel order fulfillment platform. The partnership will enable Unicommerce’s consumer base to get access to collateral-free working capital loans through Lendingkart Group’s NBFC within 72 hours of application at a discounted rate. Both players make an ideal synergistic match as they have been closely involved with SME merchants and understand the immense potential that lies untapped in this segment due to inadequate financial support.
The tie-up between Lendingkart Group and Unicommerce is aimed to provide working capital loans to Unicommerce retailers. The technology-backed Lendingkart Group’s NBFC enables loan disbursement process that comprises minimal paperwork and offers collateral-free loans to online retailers within 72 hours. It assesses the creditworthiness of a candidate through API scrutiny and online data scraping to ensure credibility rather than conventional methods that promote red-tapism. The swift assessment process takes a few hours and NBFC ensures that loan amount reaches the borrower within 2-3 days of the loan application. Unicommerce retailers will be offered discounted working capital loans enabling them to increase their inventory, pay for their liabilities and scale up their businesses.
At the announcement, Harshvardhan Lunia, Co-Founder and CEO, Lendingkart Technologies, said, “There are massive growth prospects for Indian retailers within the rapidly changing retail scenario of the country. Businesses often register losses and face challenges related to cash flows owing to their capital deficits. The tie-up with Unicommerce will help the Group to eliminate such challenges for its customer base and will moreover, enable retailers to increase their efficiency, scalability, and profitability with quick and easy working capital loans.”
Ankit Pruthi, CEO, Unicommerce said, “We understand that working capital finance is one of the key needs of SMEs in growing their business, and we believe that this partnership with Lendingkart Group will further boost our customers’ business. We are already helping the SMEs to improve their online sales through our product, and with this partnership, we are hoping to provide more avenues for growth to our customers.”
Lendingkart has developed technology tools, to provide lending solutions to lenders, which utilizes a unique mix of Big Data analytics, decision science, and other proxies to derive credit comfort and assess the creditworthiness of small business owners. Most of the credit risk analysis at the Group’s NBFC, is done digitally so that loans can be disbursed within 72 hours from the time of application.
About Lendingkart Group
Lendingkart Technologies is a fin-tech startup in the working capital space. It has developed technology tools based on big data analytics that facilitates lenders to evaluate borrowers’ credit worthiness. Aadri Infin Limited, a Lendingkart Group Company, is a non-deposit taking NBFC, offering small business loans for SMEs in India. The NBFC aims to transform small business lending by providing easy access to credit for SMEs. The NBFC uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately. Lendingkart Group aims to make working capital finance available at the fingertips of entrepreneurs, so that they can focus on business instead of worrying about the gaps in their cash-flows. We are currently based in Ahmedabad, Bangalore and Mumbai, but have a service reach across India. To know more, please visit http://lendingkart.com/
The SaaS based multichannel order fulfillment platform allows ecommerce merchants selling on multiple marketplaces like Snapdeal, Amazon, Jabong, Flipkart, eBay and so on, to manage their entire inventory and order fulfillment process through one single platform. In a short span of time, Unicommerce has built a strong customer base of 10,000+ sellers in more than 220 cities including big brands such as Monte Carlo, Swiss Military, Classic Polo, House of Anita Dongre, Reliance, Mahindra Retail, Carat Lane, Raymond etc. Ecommerce sellers love this product, as it helps them grow their sales, reduce costs and improve their seller ratings. For further information about the company or the product, please visit http://www.unicommerce.com/