Lendingkart partners with Amazon India to offer working capital loans to sellers

Bangalore, February 8 Fintech start-up Lendingkart has entered into a strategic partnership with a major e-commerce company Amazon India.

Under this partnership, Lendingkart will provide collateral-free loans to eligible sellers registered on Amazon.in based on lenders’ qualifications. This partnership gives sellers quick, easy, and low-interest access to performance-based loans.

Talk to Activity area, Manish Bhatia, President of Lendingkart, said, “We recognize the potential of the MSME segment that focuses on online business. There has been a tremendous increase in business done by this segment. Therefore, a partnership with Amazon opens the doors to a high growth segment for Lendingkart. We hope to create more digital entrepreneurs through this partnership.

So far, LendingKart has provided business loans to over 1,50,000 MSMEs in over 4,000 cities and towns in every state and union territory. Through this partnership, the lending company will have access to 800,000 MSME sellers and over 5 million MSME merchants on the Amazon ecosystem.

“Amazon and Lendingkart’s goal of helping MSMEs is similar, it was natural and obvious for us to partner together to provide quick and easy access to capital to all sellers and merchants on the Amazon platform. Amazon India.We believe the lendingkart xlr8 and 2gthr platform will seamlessly merge Amazon seller operations and make it easier for sellers and merchants to access working capital not only with Lendingkart but also with other banks and NBFC,” added Bhatia.

Commenting on the association, Vikas Bansal – Director of Amazon Pay India, said, “The mission of Amazon.in’s Seller Loan Program is to enable seamless access to credit for our sellers with transparent policies and costs. reduced. This program enables market vendors across India to access affordable credit in a seamless manner to meet their working capital needs. Our partnership with Lendingkart aims to meet capital needs with digital journey and at affordable rates for our sellers across India.”

Lendingkart claims to allow this with minimal documentation and flexible refund options. Sellers will only need to fill in minimal details, including their contact details, to complete the loan application and the sanction should be completed within minutes.

Published on

February 08, 2022