Lendingkart Ties up with Voonik to help its Sellers Access Easy Loans
Lendingkart, a leading online platform that facilitates small and medium enterprises (SMEs) in obtaining working capital loans, today announced its partnership with Voonik, India’s popular fashion marketplace for women.
Lendingkart, a leading online platform that facilitates small and medium enterprises (SMEs) in obtaining working capital loans, today announced its partnership with Voonik, India’s popular fashion marketplace for women. Through the association, Lendingkart will help in availing easy and collateral-free short-term working capital loans to sellers on Voonik’s platform.
As an online retail marketplace, Voonik has more than 6000 merchants selling their products online. With over 7 Million registered users and 5 Million app downloads, the demand for offerings on Voonik have accelerated at an extraordinary pace. The strategic partnership with Lendingkart is a step towards helping sellers scale seamlessly, thereby catering to the increased demand of customers.
Speaking of the alliance, Harshvardhan Lunia, Co-Founder & CEO, Lendingkart said, “At Lendingkart, we wish to effectively streamline accessing of loans for SMEs. Aligned with this thought, Voonik has a huge customer base and sometimes their selling partners face hurdles in fulfilling sudden demands of their products due to lack of working capital. Through this tie-up, we have attempted to simplify the process of loan disbursement and made working capital fund accessible to merchants via our affiliated NBFCs. We are positive that this will help Voonik meet the growing demand of their customers.”
Rameswar Misra, Head of the Marketplace at Voonik, said, "We are building a great marketplace platform, by bringing online many small sellers, brands, and regional stores. We believe that the true measure of success is when these small sellers get discovered by a large shopper base. Recently, our selling partners were witnessing a 10X increase in demand for their products. To avoid any delays and cancellation of orders due to sellers consuming more time in fulfilling them, we joined hands with Lendingkart. This association will enable all our sellers to scale effortlessly for the increase in demand and reach millions of online shoppers in the country and abroad."
Lendingkart has developed a tool 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 Lendingkart’s affiliated NBFCs, is done digitally so that loans can be disbursed in less than 48 hours even in semi-urban and tier-2 cities. With Lendingkart’s help, many sellers at Voonik, who have the expertise and interest in diversifying their business, will now have access to working capital that will help them scale their present business and start new categories/businesses.