Home / Knowledge / News / Textiles / RCF ties up with Snapdeal for commercial finance biz
RCF ties up with Snapdeal for commercial finance biz
19
Jan '16
Reliance Commercial Finance (RCF) has tied up with e-retail major Snapdeal for supply chain financing for e-commerce vendors. The company is also in talks with various other leading e-commerce players including Flipkart and Amazon, according to an agency report.

A part of the Anil Ambani-led Reliance Group's financial services arm Reliance Capital, RCF will offer supply chain financing to a select set of over 80,000 Snapdeal vendors across the county in teh first phase.

"We have launched a new e-commerce centric supply chain financing product that will help us offer customized options to these vendors. Increasingly we will tie up with prominent e-commerce players to offer this to their vendors," RCF's CEO K V Srinivasan said.

RCF is looking to further expand its e-commerce supply chain financing portfolio and has begun discussions with Amazon and Flipkart as also various other e-commerce firms.

Srinivasan said e-commerce companies manage thousands of vendors across categories and roughly five per cent of these vendors have strong credentials and are eligible for offering financing options.

"This provides a huge opportunity for the lending firms. We see this portfolio growing. Our average financing has been to the tune of Rs 20 lakh and is based on a rating system developed by the platform itself. This helps us get the best in the lot - limiting our risk and exposure," he added.

RCF currently has a Rs 1,000 crore book from supply chain financing and expects to grow this portfolio to Rs 1,500 crore by the end of the calendar year marking a 50 per cent jump.

The company expects over 10 per cent of its total supply chain portfolio to come from supply chain financing for e-commerce vendors by the end of this year. (SH)

Fibre2Fashion News Desk - India

Must ReadView All

Apparel/Garments | On 23rd Mar 2017

UK's National Living Wage to be £7.50 from April 2017

The National Living Wage in the UK for workers aged 25 and above is...

Textiles | On 23rd Mar 2017

Trutzschler launches Toyota-Truetzschler comber machine

Trutzschler, one of the world's leading textile machinery...

Jeff Bezos (L) and Amancio Ortega. Courtesy: Forbes

Apparel/Garments | On 23rd Mar 2017

Amazon founder Jeff Bezos is world's 3rd richest man

The biggest gainer and the third richest man on the Forbes' 31st...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Mark Paterson
Technical Absorbents Ltd

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

news category


Related Categories:
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