Home / Knowledge / News / Textiles / Tata Capital, Snapdeal tie up for online market finance
Tata Capital, Snapdeal tie up for online market finance
22
Jul '15
Tata Capital has entered into a tie-up with e-commerce major Snapdeal under its Capital Assist programme for financing Snapdeal’s sellers and online merchants, it said in a press statement.

Under the arrangement, Tata Capital will provide unsecured loans in the range of Rs 5 lakh to Rs 2 crore to meet the working capital needs of Snapdeal’s sellers at competitive rates and with flexible tenures, the statement said.

Snapdeal caters to a wide array of categories and products through over 150,000 connected sellers from over 5,000 locations across the country.

Tata Capital, the financial services arm of the Tata group, caters to the diverse financial needs of retail and corporate consumers. Tata Capital’s supply chain finance is one of its key product offerings with a book size of over Rs 5,000 crore.

Commenting on the partnership with Snapdeal, Pradeep Bandivadekar, COO, corporate finance division, Tata Capital, said, “Tata Capital aims to be truly customer-centric by customising our products and providing superior digital services to our wide range of customers. The partnership with Snapdeal is a step in this direction. We recognise that e-commerce has tremendous potential and are extremely pleased to partner with one of the largest names in the space.”

Vijay Ajmera, senior vice president, Snapdeal added, “Snapdeal’s millions of customers are served by over 150,000 online merchants, big and small alike. The partnership with Tata Capital for Capital Assist, Snapdeal’s seller financing programme provides them easy access to capital and helps them scale their business on our platform. Partnerships like this will help us achieve our goal of creating one million successful online entrepreneurs within the next three years.” (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search