Flipkart Wholesale, the digital B2B market of Flipkart Group, on Saturday stated it has partnered with SME lending platform Davinta to supply a ‘Purchase Now Pay Later’ (BNPL) credit score facility to its retailers.
Flipkart Wholesale Senior Vice-President and Head Adarsh Menon stated entry to inexpensive and clear credit score is one problem the corporate goals to unravel.
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“Partnering with Davinta will give members on our platform entry to credit score with a single click on. The expertise for the retailers is seamless and utterly digital and was solely doable as a result of each our organizations take a technology-first method,” he stated in an announcement.
As this partnership is strengthened, this assemble will enable increasingly more of Flipkart Wholesale’s Kirana and MSMEs members to take pleasure in the good thing about accessible and inexpensive credit score within the pursuit of their progress on the platform, he added.
‘Purchase Now Pay Later’ or BNPL has emerged as a credit score innovation from new-age fintechs, who’re providing this as an alternative choice to prospects who battle to be eligible for conventional credit score constructs corresponding to bank cards.
With greater than 6 crore small companies in India, a majority of whom battle to get entry to conventional credit score, BNPL affords an enormous alternative to drive monetary inclusion and supply the a lot wanted inexpensive credit score entry to those small enterprise homeowners.
“We’re very excited with the chance to accomplice with Flipkart Wholesale and supply our BNPL product to the over 1.5 million members of Flipkart Wholesale,” Davinta CEO Ravi Garikipati stated.
He added that with BNPL, the corporate is now permitting retailers throughout the nation to unlock themselves from money constraints whereas buying provides and revel in easy one-click credit score entry.
Bengaluru-based Davinta was based by ex-Flipkart CTO Ravi Garikipati and US-based entrepreneur Raj Vattikuti. The 2-year-old agency focuses on micro-enterprises and its flagship product Vyaapaar Shakti is a BNPL credit score facility designed for small retailers.