Wydr ties up with Lend­ingkart Group to fi­nance for as­so­ci­ate traders

The DQWeek (Delhi) - - CHANNELBONANZA/NEWS - DQW NEWS BUREAU

Wydr an­nounces its part­ner­ship with Lend­ingkart Group, to of­fer col­lat­eral free busi­ness loans to Buy­ers and SMEs. Un­der this part­ner­ship, Wydr aims to pro­vide short term credit for in­ven­tory pur­chase to Re­tail­ers and Shop­keep­ers. The ini­tia­tive is a part ofLend­ingkart Group’s com­mit­ment to pro­vide easy ac­cess to­cap­i­tal to mer­chants and SMEs.

Wydr shall pro­vide the tech­nol­ogy in­ter­face to its Buy­ers to seam­lessly ap- ply for Credit from within its App. Their in­no­va­tive use of tech­nol­ogy fur­ther sim­pli­fies the lend­ing process, en­hances speed, pro­vides price trans­parency, im­proves cus­tomer ex­pe­ri­ence and re­duces bor­row­ing cost for busi­nesses of all sizes. The max­i­mum amount of loan that an SME can ap­ply for isRs10 Lakhs. This fa­cil­ity shall be avail­able to all reg­is­tered Busi­ness Users of Wydr for trans­ac­tions through its plat­form with im­me­di­ate ef­fect.

Wydr is look­ing at ex­pand­ing its seller base, with a con­cen­trated fo­cus on SME de­vel­op­ment. Rishabh Dhyani, VP - Busi­ness De­vel­op­ment, Wydr said, “Wydr helps man­u­fac­tur­ers, brand own­ers, im­porters or whole­sale dis­trib­u­tors in reach­ing out to a large au­di­ence across the coun­try and we are com­mit­ted to pro­vide our buy­ers and sell­ers with sim­ple, seam­less buy­ing and sell­ing ex­pe­ri­ence. The SMEs in the busi­ness would no longer have to worry about is­sues like ar­rang­ing funds for op­er­a­tional pur­poses. The part­ner­ship with Lend­ingkart Group is an ef­fort in that di­rec­tion.”

Lend­ingkart Group NBFCu­ti­lizes Big Data an­a­lyt- ics and other prox­ies to de­rive credit com­fort and as­sess the cred­it­wor­thi­ness of small busi­ness own­ers. The en­tire process of credit risk anal­y­sis is done dig­i­tally by the Group NBFC so that loans can be dis­bursed within 72 hours even in the semi-ur­ban and tier-2 cities.

Speak­ing on the al­liance, Harsh­vard­hanLu­nia, Co-Founder & CEO, Lend­ingkart Tech­nolo­gies said, “The ben­e­fits we pro­vide at Lend­ingkart Group al­low the en­trepreneurs to lever­age their core strengths and busi­ness goals as against the cash-flow re­quire- ments. The part­ner­ship with Wydr is an ef­fort to sim­plify the process of loans dis­burse­ment and make cap­i­tal ac­ces­si­ble via our com­pletely on­line ap­pli­ca­tion process”.

Fi­nance ac­ces­si­bil­ity is per­haps one of the big­gest is­sues for small busi­nesses in In­dia. With in­ad­e­quate funds, they can­not se­cure new tech­nolo­gies nor reach new ge­ogra­phies. Fur­ther, with qual­ity con­straints they can­not com­pete in global mar­kets or even strike busi­ness link­ages with larger or­ga­ni­za­tions. The part­ner­ship aims to achieve the same.

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