Sellers of the marketplace to be funded without any collateral at highly competitive rates
New Delhi, June 12, 2015: ShopClues, India’s first and largest managed marketplace announces the launch of Capital Wings, a financing platform for its vendors. Constantly looking for ways to empower its merchant base, the marketplace has tied up with third party finance providers (Nationalised Banks and NBFCs) to offer working capital to vendors at highly competitive rates and without collateral. The objective is to enable merchants with ambition to scale their business to newer heights.
In its initial phase, ShopClues has partnered with Capital Float for this initiative with an official agreement. It is also in talks with other players in this domain to offer more choices in financing solutions to its sellers. The pilot project has been successfully completed and now ShopClues is ready to launch the platform in a phased manner for its huge merchant base of over 1,50,000 vendors.
Speaking on the initiative, ShopClues Co-founder & CEO, Sanjay Sethi said, “Merchant satisfaction is a very important business metric for us at ShopClues. They are equal stakeholders in our success and we wish to help them infuse new blood and energy into their businesses with this financing platform. Those who aspire to grow their ventures manifold, will be provided with a convenient platform where the process from application to loan amount disbursement will be complete within a week.”
The merchants can apply for loans very simply on the vendor dashboard by clicking on the merchant financing section. After the online application, on the basis of the merchant’s past performance and his rating on ShopClues, the merchant will be eligible for the loan amount which will be processed in the speediest and most hassle-free ways. This platform adds tremendously to the existing benefits of selling on ShopClues which include the high reach and immense popularity of the platform across geographies in India.
ShopClues is India’s first and the largest managed marketplace with more than 50 million monthly visitors on its website. Founded in July 2011 in Silicon Valley , with 1.9cr listed products and over 150000 + merchants, ShopClues aims to provide the best online shopping experience to its customers – starting from the great selection, low price, ease of use, fast delivery, and ending with the best customer service you have ever experienced. ShopClues ships in over 25k cities across India and has thousands of online stores. The company is run by energetic team of over 700 + people and is funded by leading institutional investors, is an Indian subsidiary of Clues Network Inc., a US Corporation and is based out of Gurgaon.