Capital Float, a digital financing platform and ShopClues.com, an online marketplace today announced partnership to provide finance to e-commerce sellers across the country through ShopClues’ new financing programme called “Capital Wings”.
The initiative will help ShopClues provide its merchants with access to capital, enabling them to increase their turnover on the platform and grow their businesses, Capital Float said in a statement.
Sellers from across the country can now avail collateral-free finance from Capital Float ranging from Rs one lakh to Rs one crore.
The loans are delivered through Capital Float’s online application process in just under 7 days to eligible businesses.
“Lack of financing options can be a real roadblock when it comes to SME vendors who are trying to scale business on e-commerce platforms. Through the tie-up with Capital Float, we at ShopClues will be able to fulfill the funding needs of over 150,000 sellers on our platform. Our merchants can now solely concentrate on their core operations, while we arrange financing options for them,” Vishal Sharma, VP of Operations, ShopClues said.
“We hope to reach out to a large number of these promising companies to help them continue to grow, and realise their full potential,” said Gaurav Hinduja, Co-founder, Capital Float.
A link has been placed on the ShopClues merchant panel, or businesses can directly apply to Capital Float and choose from a range of credit products, especially designed for Small and Medium Enterprises (SMEs).