New Delhi, June 21 (KNN) In a bid to empower Micro, Small and Medium Enterprises (MSMEs) in the country, Indian e-commerce marketplace Flipkart has revamped its seller financing program, ‘Growth Capital’.
The program is designed specifically to enable financial inclusion and independence for MSMEs who operate online, the company said in its statement.
As a part of the program, Flipkart has partnered with 10 lenders to facilitate more than 1 lakh sellers on the platform. The move will allow the sellers to avail credit at competitive interest rates from 10 NBFCs and banks with an approval time of one day and with disbursal into the sellers’ bank accounts occurring within 48 hours.
CEO of Flipkart, Kalyan Krishnamurthy said, “Our knowledge and understanding of the Indian ecosystem allow us to construct frameworks such as ‘Growth Capital’, through which sellers can scale their businesses, prosper, create more employment opportunities, and continue to transform the country’s economy.”
This is part of Flipkart’s core mission of developing shared value in the ecosystem and helping digitize India through the latest tech and innovations, he added.
The ‘Growth Capital’ initiative aims to fill the gap between financial institutions and the underserved, through tech and the digital economy.
This program is the latest in a slew of seller-empowering initiatives that Flipkart has implemented to support sellers aspiring to scale and leverage e-commerce to reach their full potential.