PR Newswire | 12 Aug, 2015
BANGALORE: Capital Float, India's leading digital financing platform, and eBay India today announced a premier partnership to provide quick and easy finance to e-commerce sellers across the country, in just under three days.
eBay India is a leading online marketplace and together with Capital Float, it hopes to provide its seller-partners with that much needed shot of capital to help them win in a highly competitive market.
Sellers from across the country can now avail collateral-free finance from Capital Float ranging from INR 1 lakh to 1 crore at industry-competing interest rates. The loans are delivered through Capital Float's customer friendly online application process that is quick and easy, with qualified businesses getting financed in real time for smaller loans to just under three days for larger ones.
Commenting on the partnership, Pankay Ukey, Director, Seller Service and Technology Category, eBay India, said, "eBay India has been at the forefront of creating tools that have enabled business growth for its sellers, irrespective of their size. We were the first to engage with entrepreneurs at the grassroots level via our tie-up with CAIT and also pioneered the certification programme for SME's along with NIIT. Our association with Capital Float is an effort to support our sellers by providing them financial assistance and help them ship more."
"It's a privilege to partner with a company that helped define the online marketplace. Today, India has one of the largest number of small and medium businesses in the world with close to 30 million and counting. Every one of these businesses needs capital to sustain and grow, and we at Capital Float are more than happy to help," said Sashank Rishyasringa, Co-founder, Capital Float. "It has been only a few days since our alliance with eBay was formalized and we have already disbursed loans of close to 10 crore to sellers on eBay."
eBay India sellers can now directly apply to Capital Float and choose from a range of innovative and flexible credit products, especially designed for Small and Medium Enterprises (SMEs).
About Capital Float:
Capital Float (CF) is India's leading digital financing platform that provides quick and easy capital to help businesses fund rapid growth and achieve their next milestone. Founded in 2013, Capital Float is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India. It is a dominant player in the e-commerce lending space that includes partnerships with Snapdeal, Flipkart, Myntra, PayTM, Fashion and You, and Zovi. Earlier this year, it raised Series A funding from Sequoia Capital, Saif Partners and Aspada bringing in capital of US$13mn. The company is headquartered in Bangalore with offices in Delhi, Chennai, Mumbai and Ahmedabad. For more information, visit http://www.capitalfloat.com.
About eBay India:
eBay India (http://www.ebay.in) is a leading online marketplace and shopping destination in India where over 65,000 sellers list 30 million products across electronics, lifestyle, collectibles and media categories. eBay India is a 100% subsidiary of eBay Inc.