udaanCapital disbursed Rs 4,000 Cr to over 2.5K MSMEs in 2 years
udaanCapital aims to unblock the flow of capital to Indian SMEs through its Supply Chain Financing programme.
announced the disbursal of over Rs 4,000 crore to over 2,500 MSMEs in the past 24 months through its Supply Chain Financing programming. The disbursals were enabled through partnerships with brands the fintech firm boarded for the programme to meet the working capital requirements of SMEs.
It also crossed the milestone of onboarding more than 100 active brand partners in this programme to help MSME distributors and retailers.
Through udaanCapital, Udaan, a business-to-business (B2B) ecommerce platform, provides financial products and services to help manufacturers, merchants, and small enterprises expand their operations.
udaanCapital enables credit of Rs 2200 Cr to over one lakh retailers across India
The fintech arm of the ecommerce firm aims to bridge the gap that exists in trade financing, especially in Tier II and III cities where otherwise only informal credit channels exist. The Bengaluru-headquartered fintech company facilitates the extension of credit by bringing together lenders and borrowers on its platform. Other than providing access to affordable working capital to MSMEs, it also aims to eliminate the receivables of brands.
Chaitanya Adapa, Head, udaanCapital observed that the entire industry faces the issues of managing funding receivables. The company has witnessed strong demand from brands across mobile phones, consumer electronics, appliances, hardware, electricals, and other categories for the programme.
“We are glad to have been able to help our brand partners reduce and eliminate receivables and focus more of their energies on core business," he said.
Edited by Kanishk Singh