Flipkart launches new seller benefits
E-commerce giant Flipkart has launched new benefits for its sellers by expanding its seller financing programme ‘Flipkart Growth Capital’ and partnered with lenders to give sellers access to credit through its ‘Working Capital’ programme.
Flipkart’s Growth Capital initiative is designed to encourage growth, and promote micro, small, and medium enterprises, according to the Walmart-owned business. The application process for Flipkart’s Growth Capital finance initiative is now swifter and sellers have access to credit options of up to Rs 5 crore, the business announced on May 27.
“E-commerce has played a transformational role for sellers and MSMEs in recent years, especially since the pandemic, by providing new avenues for their growth and expansion,” said Flipkart’s senior vice president for marketplace, fintech, and payments Ranjith Boyanapalli, the Press Trust of India reported.
“The scope and the benefits of the Growth Capital program will help them speed up cash flows and manage procurements better.”
The move is designed to support Flipkart sellers, especially as many are struggling with the second wave of Covid-19. Partnering with more lenders has enabled the business to provide an increased array of finance opportunities, it said.
“At Flipkart, we continue our efforts to democratise our marketplace platform to not only make it more inclusive but also build on technology and innovation to help our seller partners with their digital journeys and ambitions,” said Boyanapalli.
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