CreditEnable, a global credit insights and technology solutions company announced a strategic partnership with Flipkart, India’s homegrown e-commerce company, to increase access to affordable finance for Flipkart’s sellers on its marketplace platform in the country.
Today, Flipkart is one of India's leading e-commerce companies and works with 300,000 sellers and has 300 million registered users.
CreditEnable has developed a technology platform that allows SME lenders and borrowers to effortlessly find their perfect match and allows both parties to transact on loans efficiently and cost-effectively. CreditEnable’s platform reduces the time and complexity of applying for a business loan and enables SME borrowers to secure the most affordable loan for their business. SMEs can avail of loans from 1 Lakh to 15 Crore through CreditEnable. CreditEnable’s platform will be embedded into Flipkart’s marketplace platform, where sellers gain direct access whenever they need financing.
Commenting on the partnership with CreditEnable, Ranjith Boyanapalli, Senior Vice President - Marketplace, Fintech and Payment Group, Flipkart, said: “Flipkart remains deeply committed to enabling the growth of MSMEs and our seller community, by supporting them with their business continuity and operations. With the ongoing pandemic, affordable finance for MSMEs has become even more critical as the market dynamics continue to evolve each day. Our partnership with CreditEnable’s platform, hence, is a further step towards opening access for our sellers to affordable finance products across more than 25 lenders and 100 specialist SME loan products. CreditEnable has significantly simplified the borrowing process, and we look forward to a close collaboration to bring more affordable financing solutions to our growing seller base.”
Commenting on the partnership, Nadia Sood, Global CEO and Founder of CreditEnable, said, “We are delighted to be entering into a strategic partnership with Flipkart to help their 300,000 sellers across India access affordable finance. Through this partnership, we will further increase our ability to bring easy, affordable access to finance to more SME borrowers across India. Thousands of SMEs choose us every day to help them access finance and this partnership opens up a significant opportunity as a channel for us to reach SMEs wherever they are.”