Digital lending platform Capital Float has announced its partnership with Amazon India to disburse thousands of loans to e-sellers. The company - the only fintech startup to partner with the e-commerce giant - has also partnered with other leading online platforms including PayTM, Snapdeal and Shopclues.
Capital Float has designed a collateral free credit facility for online sellers called Pay Later that helps them make supplier payments within 24 hours.
India is expected to become the world's fastest growing e-commerce market, driven by robust investment in the sector and rapid increase in the number of internet users. In fact, e-commerce revenue is expected to jump from $30 billion in 2016 to $120 billion in 2020, growing at an annual rate of 51% - the highest in the world.
With a loan size of Rs 2 lakh and above, the initiative is helping finance e-sellers who are part of the electronics, consumer durables and fashion verticals of Amazon India.
_20241119151804_original_image_34.webp)
