FlexiLoans extends partnership with Amazon Lending Marketplace to provide MSME credit
MSME-focussed digital lender FlexiLoans has extended its partnership with Amazon.in for the second year by integrating its lending platform with Amazon Lending Marketplace, media reports say.
According to reports, the integration of the platform with Amazon Lending Marketplace will allow Amazon sellers to apply and monitor their loans from their Amazon seller dashboard itself.
FlexiLoans was founded by four ISB and IIT alumni and is one of the first SME fintech lenders to integrate with Amazon using APIs, and is one of the key fintech partners for the ecommerce giant’s lending programme.
In a statement, Deepak Jain, Co-Founder, FlexiLoans, said, "The Indian fintech ecosystem needs such close integrations to deliver real value towards SME financial inclusion with great user experience. Amazon is synonymous to shopping for the millennials, and businessmen across the country are lapping to join the bandwagon. Our curated offers for sellers make it very convenient for sellers to manage their working capital and take advantage of India festive season spikes."
Flexiloans uses its differentiated technology to reach out to e-sellers including ones who couldn’t get funding from banks, and other financial lending institutions, and provide collateral-free loans within a short timeframe. The platform has provided 10,000 loans to various MSMEs, and has disbursed over Rs 400 crore so far.
Vivek Somareddy, Director, FBA & Seller Flex, Amazon India, in a statement, said, "FlexiLoans has a great understanding of sellers and their needs in an ecommerce business environment. This gels well with our aim to help sellers grow their business on Amazon.”