Snapdeal launches Capital Assist to help provide financing to sellers

Banks and NBFCs can participate to provide low-cost financing to sellers on the Indian e-commerce marketplace

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Indian e-commerce marketplace Snapdeal has launched Capital Assist, a platform to enable easier availability of capital for its sellers.

It will help sellers meet their growing working capital requirement as they scale their businesses on the Snapdeal marketplace platform, said an official statement.

Banks and non-banking financial companies (NBFCs) can participate to provide low-cost financing to sellers depending on their current and future business requirements.

Rohit Bansal, Co-founder and COO, Snapdeal said, “At Snapdeal, enabling SMBs to do business online is one of our key focus areas and our latest initiative, Capital Assist, will go further in strengthening this. We currently have around 50,000 sellers who are selling their products on Snapdeal and it is while working with them that we realised the issues they face while raising capital to fuel growth in their businesses. We believe that this initiative will help them overcome this challenge to a large extent.”

SMBs in India face major hurdles in terms of meeting their working capital requirements and raising low-cost capital, while attempting to grow their business. This platform will benefit sellers on Snapdeal by enhancing their financial liquidity.

Also Read: Snapdeal’s new app wants to get sellers on board in a snap

The eligibility criteria for sellers to avail of this service will be clearly defined by the company along with the funding partners (banks/NBFCs) on Capital Assist. In order to ensure that Snapdeal sellers have significant flexibility, customised financing options will be offered to them based on their business category and requirement.

Twishy

A writer at heart, Twishy thinks that no idea is small and nothing is a mistake. Some of the great works come from beautiful mistakes that are perfectly imperfect. She believes in unearthing new talent and feels that genius can be written on a bar napkin too. Incisive reporting coupled with exceptional ideas has been the love of her life. When not writing, one can find her exploring the best places to hang out with loved ones.

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