The tie-up between Lendingkart Group and Unicommerce is aimed to provide working capital loans to Unicommerce retailers. The technology-backed Lendingkart Group’s NBFC enables loan disbursement process that comprises minimal paperwork and offers collateral-free loans to online retailers within 72 hours. Unicommerce retailers will be offered discounted working capital loans enabling them to increase their inventory, pay for their liabilities and scale up their businesses.
At the announcement, Harshvardhan Lunia, Co-Founder and CEO, Lendingkart Technologies said, “There are massive growth prospects for Indian retailers within the rapidly changing retail scenario of the country. Businesses often register losses and face challenges related to cash flows owing to their capital deficits. The tie-up with Unicommerce will help the Group to eliminate such challenges for its customer base and will moreover, enable retailers to increase their efficiency, scalability, and profitability with quick and easy working capital loans.”
Ankit Pruthi, CEO, Unicommerce said, “We understand that working capital finance is one of the key needs of SMEs in growing their business, and we believe that this partnership with Lendingkart Group will further boost our customers’ business. We are already helping the SMEs to improve their online sales through our product, and with this partnership, we are hoping to provide more avenues for growth to our customers.”
Lendingkart has developed technology tools to provide lending solutions to lenders, which utilizes a unique mix of Big Data analytics, decision science, and other proxies to derive credit comfort and assess the creditworthiness of small business owners. Most of the credit risk analysis at the Group’s NBFC is done digitally so that loans can be disbursed within 72 hours from the time of application.