Bengaluru-based buy-now-pay-later startup Simpl has partnered with revenue-based financing platform Klub as it aims to provide easy access to credit for D2C merchants and support them in meeting their working capital requirements.
With this, Merchants can avail credit facilities at affordable interest rates with flexible terms in a completely digital fashion.
Simpl aims to tackle a significant challenge faced by D2C merchants experiencing hyper-growth by including capital-as-a-service in its booster package for partner merchants. This initiative will enable long-term value creation and help resolve a major pain point for many digitally native companies in India.
Simpl is also expanding its ‘Booster Package’, which provides exclusive access to services from various D2C enablers such as brand building, credit access, digital marketing and e-commerce consulting that helps boost business.
These initiatives are aimed at creating a trusted ecosystem of D2C merchants that offer their customers high-quality products and a seamless payment experience.
According to the “Beyond E-commerce 3.0” report by Kalaari Capital, at least 50 million new users have been added to the Indian e-commerce platforms over the last two years as a result of the pandemic’s rapid digitisation. Along with this, India is anticipated to have 1.1 billion internet users by 2025, with 30% of them engaging in online shopping.
This opens up a huge opportunity for D2C merchants that are expected to generate $50 billion in sales by 2025 and therefore, becomes imperative to support them on multiple fronts including credit access, discoverability and seamless payments and Simpl aims to be at the forefront of enabling this change.
Nitya Sharma, Co-founder and CEO of Simpl, said, “As an organisation committed to developing the D2C merchant ecosystem in India, we are constantly striving to come up with innovative ways to solve the problem statements faced by the community. In this endeavour, we are delighted to announce the expansion of our Booster Package to provide credit access to the D2C community in partnership with Klub to support them in their working capital requirements.”
“At Klub, we’re revolutionising the way platforms offer financing to their merchants. Our innovative embedded capital product is a plug ‘n play lending solution that seamlessly integrates with our partners’ platforms. We are excited to partner Simpl in offering quick and flexible financing options to its growing community of D2C merchants to support them in meeting their growing business requirements. And with a range of capital partners to choose from, including banks, NBFCs, and our own credit fund, we ensure that merchants get the best possible financing solutions,” said Anurakt Jain, Co-founder and CEO at Klub.
Source @Indianstartupnews
