E-commerce logistics and shipping software firm Shiprocket has unveiled Shiprocket Capital, a novel financing platform set to disburse up to Rs 100 crore to small and medium businesses (SMBs) operating online. The platform aims to provide revenue-based financing, offering collateral-free funds without equity dilution. This initiative is designed to assist SMBs in ramping up inventory, boosting marketing efforts, enhancing production, and expanding into new markets.
Key Features of Shiprocket Capital:
Shiprocket Capital plans to facilitate Rs 10 crore in revenue-based financing to SMBs within the next 12 months, starting December 2024. The repayment structure involves a one-time fee and a percentage of revenue generated by the SMB.
Diverse Support for E-commerce Businesses:
Shiprocket Capital is tailored to cater to e-commerce businesses spanning various categories, including fashion, consumer electronics, beauty and personal care, home and kitchen, and jewelry and accessories. The initiative acknowledges the challenges faced by e-commerce entrepreneurs in accessing traditional financing methods and seeks to streamline the process.
Efficient Disbursement Through NBFC Partners:
Capital disbursement will be carried out through partner non-banking financial companies (NBFCs) such as InCred, Indifi, Klub, Stride, Vedfin, Velocity, and GetVantage. Shiprocket aims to ensure a swift turnaround, disbursing funds within two days of document submission by the SMB.
Saahil Goel, Co-founder and CEO of Shiprocket, emphasizes the platform’s commitment to building a thriving ecosystem of one million e-commerce businesses in India by 2025. Shiprocket Capital stands as a strategic move to empower these businesses and be a growth partner through flexible capital solutions.
