FlexiLoans.com extends partnership with Amazon.in in lending platform

FlexiLoans.com extends partnership with Amazon.in in lending platform

Agency News

Hyderabad, Apr 24: FlexiLoans.com, an MSME focused digital lending platform, extended its partnership with Amazon.in in the second year by integrating their lending platform with Amazon Lending Marketplace and allowing Amazon sellers to apply and monitor their loans from the Amazon Seller Dashboard itself.

FlexiLoans.com founded by 4 ISB ( Indian School of Business) and IIT Professionals, is the first SME Fintech lender to integrate using APIs with Amazon and is one of Amazon.in’s key fintech partner for its Lending Program. Both companies are working towards achieving deep technology integrations to make lending offers real time and create an enigmatic customer experience, FlexiLoans said in a release here on Wednesday.

FlexiLoans Co-Founder Deepak Jain, said Indian FinTech ecosystem needs such close integrations to deliver real value towards SME financial inclusion with great user experience. Amazon is synonymous to shopping for the millennials and Businessman across the country who are lapping to join the bandwagon. Our curated offers for Amazon.in sellers makes it very convenient for Sellers to manage their working capital and take advantage of India festive season spikes, the release said.

Amazon India Director (FBA and Seller Flex) Vivek Somareddy, said "FlexiLoans has a great understanding of sellers and their needs in an e-commerce business environment. This gels well with our aim to help sellers grow their business on Amazon.in. India’s total e-commerce retail sales in 2018 were pegged at upwards of USD 22 bn and is expected to grow by another USD 50 bn with the increase in new sellers and customers exploding from the new digital hinterlands of the country.

FlexiLoans.com uses its differentiated technology to reach out to the e-sellers including ones devoid of the funding from banks and other financial lending institutions and provide collateral free loans within a short time frame. Flexi Loans competed three years of operations in April 2019, and crossed 10,000 loans and over 400 crores of disbursals. It has received borrowing interest from over 3 Lac MSMEs in FY 19, over 300 per cent increase from FY 18. FlexiLoans.com had recently unveiled their API product at the India Fintech Awards in November last year, which allows any platform in India to use FlexiLoans' Lending APIs to offer financing to their SMEs.