Flipkart Will Provide Rs 75 Cr Loans to Sellers
E-commerce major Flipkart, after facilitating loans worth Rs 125 crore for sellers on its platform in last one year, is looking to help merchants avail credit facility of over Rs 75 crore in the next few months.
The Bengaluru-based firm, which has partnered eight financial institutions including Axis Bank, Bajaj Finserv, NeoGrowth, Lendingkart and Capital First to offer collateral-free loans to sellers on its platform, has already disbursed Rs 125 crore worth of loans in the last one year.
Under the Flipkart Growth Capital programme, launched in July last year, Flipkart sellers can avail loans with interest rates starting at 11.40 per cent, Flipkart said in a statement.
The programme had received over 3,000 applications in the initial months of the launch and over 800 loans have b...