Flipkart Wholesale launches enhanced credit facilities for MSMEs
Flipkart Group’s online business-to-business marketplace Flipkart Wholesale has augmented its credit facilities for micro, small, and medium enterprises and kirana stores ahead of the festive season.
Flipkart Wholesale has partnered with small and medium enterprise lending platform Davinta to offer new ‘buy now, pay later’ (BNPL) credit facilities to its business customers, the company said in a press release, ET Retail reported.
“With BNPL we are now allowing retailers across the country to unlock themselves from cash constraints while purchasing supplies and enjoy simple one-click credit access,” Davinta CEO, Ravi Garikipati, said in a statement, ET Bureau reported.
The BNPL features are designed to enable businesses to stock up for the busy festive season and purchase extra items on credit. As some businesses are still recovering from the Covid-19 pandemic, they will need to avail these facilities to purchase ample stock for the upcoming sale season, one of the busiest shopping seasons of the year.
“We are confident that this construct will allow more and more of our kirana and MSMEs members to enjoy the benefit of accessible and affordable credit in the pursuit of their growth on our platform,” said Flipkart Wholesale senior vice president and head, Adarsh Menon.
Flipkart Wholesale expects its business customer base to continue to grow this year at around 58% year-on-year. The business expects its kirana customer base to rise by 33% year-on-year from July to December 2021.
Copyright © 2021 FashionNetwork.com All rights reserved.