Logistics startup Shiprocket to disburse Rs 100 crore to SMBs via new financing platform Shiprocket Capital

Posted under: MSME
Date: 2023-12-06
Logistics startup Shiprocket to disburse Rs 100 crore to SMBs via new financing platform Shiprocket Capital

Shiprocket, an e-commerce logistics and shipping software company, has introduced Shiprocket Capital, offering up to Rs 10 crore in revenue-based financing to online small and medium businesses (SMBs) in India. The initiative aims to provide Rs 100 crore in capital to SMBs over the next 12 months without requiring collateral or equity dilution. The funds can be used for inventory, marketing, production, or market expansion. The repayment structure includes a one-time fee and a percentage of the SMB's revenue. Shiprocket Capital has already disbursed over Rs 35 crore in its pilot phase to approximately 150 SMBs. The company plans to collaborate with partner non-banking financial companies (NBFCs) for efficient capital disbursement within two days of document submission by SMBs. Shiprocket aims to support India's growing e-commerce ecosystem, with the country expected to have one million e-commerce businesses by 2025.

Read more at: www.financialexpress.com