Amazon augments seller lending marketplace with Flexiloans

25 Apr '19
2 min read
Pic: PhotoMIX Ltd. from Pexels
Pic: PhotoMIX Ltd. from Pexels

Flexiloans, a MSME focused digital lending platform, has extended its partnership with Amazon.in in the second year by integrating its lending platform with Amazon Lending Marketplace, thus allowing Amazon sellers to apply and monitor their loans from the Amazon Seller Dashboard itself. Flexiloans aims to reach over 100,000 customers this year.

FlexiLoans is the first SME fintech lender to integrate using APIs with Amazon and is one of Amazon.in’s key fintech partner for its Lending Program. Both companies are working towards achieving deep technology integrations to make lending offers real time and create an enigmatic customer experience.

“Indian fintech ecosystem needs such close integrations to deliver real value towards SME financial inclusion with great user experience. Amazon is synonymous to shopping for the millennials and businessmen across the country are lapping to join the bandwagon. Our curated offers for Amazon.in sellers makes it very convenient for sellers to manage their working capital and take advantage of India festive season spikes,” said Flexiloans co-founder Deepak Jain.

“Flexiloans has a great understanding of sellers and their needs in an e-commerce business environment. This gels well with our aim to help sellers grow their business on Amazon.in,” said Vivek Somareddy, director, FBA & Seller Flex, Amazon India.

India’s total e-commerce retail sales in 2018 were pegged at upwards of $22 billion and is expected to grow by another $50 billion with the increase in new sellers and customers exploding from the new digital hinterlands of the country. India achieved a 53 per cent CAGR growth in e-commerce sales in 2013-17, the highest in the world. “Fintech lending partners like Flexiloans have helped sellers on e-commerce portals to manage their working capital spikes during the festive season and contribute to this growth,” Flexiloans said in a media statement.

Founded by 4 ISB and IIT professionals with a combined experience of over 50 years, Flexiloans is a market leader in ecosystem-based lending for small businesses. It uses its differentiated technology to reach out to the e-sellers including ones devoid of the funding from banks and other financial lending institutions and provide collateral free loans within a short time frame.

Flexi Loans competed three years of operations in April 2019, and crossed 10,000 loans and over ₹400 crore of disbursals. It has received borrowing interest from over 3 lakh MSMEs in FY 19, over 300 per cent increase from FY 18. (RKS)

Fibre2Fashion News Desk – India

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