We can enable the smallest purchase of even Rs. 500 on Credit for the SMEs through the Embedded Approach, says Rupifit
MUMBAI, Nov 17, 2020 (BNC Network) –Reliance backed omnichannel platform Fynd has announced a partnership with embedded lending fintech Rupifi to enable Credit for SMEs while transacting and making purchases on its platform - Uniket. The tie-up aims to solve the Access to Credit problem for SMEs in Tier-2 and Tier-3 towns. Rupifi’s proprietary embedded lending technology stack powers the B2B Credit Line product to help Businesses make purchases on credit.
“COVID-19 has demonstrated the importance of connecting offline with online. Our partnership with Rupifi ensures that the retailers do not just have the opportunity to stay in business, but also the financial resources they need to advance their business”, said Harsh Shah, Fynd Co-Founder.
Founded by Farooq Adam, Harsh Shah and Sreeraman MG, the O2O (offline-to-online) company directly sources products across various categories, from the most prominent brands in the country.
Rupifi has integrated its complete solution into the purchase journey of SMEs on Uniket, the B2B Fashion Aggregation platform powered by Fynd. By embedding Rupifi’s Pay Later Credit Line into the purchase journey, Fynd and Rupifi ensure that the SMEs/Retailers have access to credit at the point of purchase and never fall short of capital in buying inventory or growing their business. Rupifi’s Embedded Lending solution on Uniket is one of the first such fully integrated solutions for SMEs to buy on Credit.
Rupifi Co-Founder and CEO Anubhav Jain said, “This is an important partnership for us in our vision to empower 1 Million+ SMEs with access to Credit. The Integration of our Flexible Credit Line product on Uniket by Fynd is an example of how both teams have conceptualised and created a Technology-powered Customer Journey which solves a big pain point for the SME customer during their purchases. We can enable the smallest purchase of even Rs. 500 on Credit for the SMEs through the Embedded Approach. And the best part is that the entire Onboarding is paperless, frictionless and completely digital”.
Rupifi is India’s first Embedded Lending Fintech, working exclusively for SMEs by enabling flexible Lending Solutions in partnership with Digital and Offline Anchors, Distributors, Marketplaces and Aggregators through its Technology Stack for B2B Purchase Financing and Working Capital Financing. Rupifi is backed by well-known angel investors including Kunal Shah, Ashneer Grover, Ramakant Sharma and prominent Seed Funds, including Better Capital and Cloud Capital.