Shiprocket, and ecommerce enablement platform introduced seamless revenue-based financing for SMBs with Shiprocket Capital.
The platform aims to disburse around Rs100 crore to SMBs, in the next 12 months. Shiprocket Capital promises to transform the financing landscape for emerging eCommerce businesses by enabling financing that is easy, quick, collateral-free and liability-free. In its pilot phase, Shiprocket has already enabled around 150 SMBs with access to vital growth capital and disbursed more than Rs 35 crore via Shiprocket Capital, according to the press release.
According to a report by IBEF, India is home to over 5,00,000 ecommerce businesses, but traditional financing methods have long presented challenges for ecommerce entrepreneurs. Offering a swift and efficient means of accessing much-needed capital, revenue-based financing is increasing the startup growth by up to 30 per cent.
To enable seamless capital disbursement Shiprocket has partnered with Non-Banking Financial Companies (NBFCs) like InCred, Indifi, Klub, Stride, Vedfin, Velocity, and GetVantage.
