Klub looks to disburse Rs 200 Cr to SMEs to boost festive ecommerce sales
Klub offers various funding structures, including term loans, credit lines, and revenue financing, with up to Rs 30 crore available in a single tranche.
Revenue-based financing platform plans to disburse Rs 200 crore to support brands during the 2024 festive season. Last year, it handed out Rs 100 crore financing to small businesses.
The funding aims to boost sales on major ecommerce platforms like Amazon, Flipkart, and Myntra by helping SMEs maintain inventory and pre-plan marketing, the company said in a statement.
Klub offers various funding structures, including term loans, credit lines, and revenue financing, with up to Rs 30 crore available in a single tranche.
Partnering with NBFCs like U GRO Capital, Klub focuses on sectors such as beauty, fashion, and cloud kitchens. Notable beneficiaries include Monrow Shoes and BRB Chips.
"We are excited to double our commitment to Rs 200 crore this year, supporting a broader range of sectors and driving significant growth for Indian retailers. This initiative is in response to the anticipated 10-12% growth in festive sales and the ecommerce industry's expected surge to $111 billion this year," Anurakt Jain, Co-founder and CEO at Klub, said in a statement.
Recently Klub has partnered with U GRO Capital, an MSME lending platform, to disburse funds worth Rs 150 crore to bridge the credit gap for micro, small, and medium enterprises (MSMEs) in India.
Edited by Kanishk Singh