Lendingkart, Ahmedabad based Digital lending platform for SMEs has tied up with Wydr, a B2B mobile first marketplace in India to offer collateral free business loans to buyer and small and medium scale enterprises.
With this partnership, Wydr is targeting to provide short term credit for inventory purchase to retailers and shopkeepers. This initiative is in-line with Lendingkart Group’s commitment to provide easy access to capital to merchants and SMEs.
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. ”
Harshvardhan Lunia, Co-Founder & CEO, Lendingkart Technologies stated, “The benefits we provide at Lendingkart Group allow the entrepreneurs to leverage their core strengths and business goals as against the cash-flow requirements. The partnership with Wydr is an effort to simplify the process of loans disbursement and make capital accessible via our completely online application process “.
To facilitate the buyers with credit limit of 10 Lakhs, Wydr will provide the technology interface to apply for credit from within its app. This use of technology is expected to further simplify the lending process, enhances speed, provides price transparency, improves customer experience and reduces borrowing cost for businesses of all sizes. This facility shall be available to all registered Business Users of Wydr for transactions through its platform with immediate effect.
Finance accessibility is one of the major limitations of small businesses in India. With limited funds they are not able to scaleup their business model to different geographical boundaries, business domains and verticals and hence not able to stand against the biggies. Partrneship of Lendingkart and Wydr is anticipated to fulfill this gap.