Capital Float has announced its partnership with Amazon India with a motive to help e-commerce sellers effectively meet their working capital requirements, Bureaucracy Today has learnt.
The company has already tied-up with other e-commerce platforms: PayTM, Snapdeal, Shopclues, and is said to have disbursed thousands of loans to e-sellers on the B2C platform, since its inception in October 2016.
The co-founder and Managing Director of Capital Float, Gaurav Hinduja said, “E-commerce merchants require quick, short-term credit that can be used to boost their inventory in order to meet the spikes in demand. We designed a customized solution called Pay Later, a collateral free credit facility for online sellers that helps them make supplier payments within 24 hours.”
Hinduja added, “We customize the credit underwriting parameters using cutting-edge technology and Big Data analytics to help us assess e-sellers individually. Basis the underwriting, we are able to offer customized working capital finance to these sellers in a timely and efficient manner.”
The General Manager and Director Seller Services of Amazon India, Gopal Pillai said, “The easy access to credit offered by Capital Float has enabled the sellers on our platform to expand operations and effectively manage seasonal spikes. This is an enabler in achieving our vision of transforming the way India buys and sells.”
Capital Float is further said to expand partnership to finance more e-sellers in the country.