June 1: Flipkart has recently expanded its seller financing programme ‘Flipkart Growth Capital’ with an aim to launch new benefits for its sellers. The e-commerce giant has also partnered with lenders to give credit access via the Working Capital programme.
The Growth Capital initiative of the e-commerce giant has been designed to promote micro, medium and small scale enterprises and encourage the growth of them.
The business announced earlier on May 27 that the application process for Flipkart’s Growth Capital finance initiative has now become even swifter and sellers have access to credits optio0ns of up to Rs. 5 crore.
Also read: Relaxo Footwears witnesses 97% rise in net profit this year
“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.
Furthermore, it also added, “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.”
Boyanapalli 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.”
