Flexiloans.com partners with Retailio
FlexiLoans.com has partnered with B2B healthcare marketplace, Retailio to give working capital loans to its 100,000+ retailers and distributors across the country.
This partnership intends to finance more than 15,000 pharma retailers in the next 18 months. It will allow the pharmacies to serve the risen demand for healthcare products and stock holding period by ensuring that financing for their working capital needs is taken care of digitally within 24- 48 hours of them applying for a loan.
The smooth lending alliance with Retailio took under 2 weeks given FlexiLoans.com’s sturdy plug & play Architecture. The retailers on Retailio will benefit from FlexiLoans’s Co-lending platform – BiFrost with access to a broad range of lenders and smooth digital on-boarding.
Commenting on the partnership, Deepak Jain, Co-Founder- FlexiLoans said “The Indian Pharmacy market is a USD 40bn market and operates in the remotest town in the country and often these units require timely and adequate funds for seasonal spikes, new product launches, and business expansion. FlexiLoans.com has been expanding its ecosystem partnerships to provide the small business the best lending proposition via our Co-lending platform and our partnership with Retailio is an imminent one in this direction”
Since its launch in 2016,Flexiloans.com has extended over Rs. 1000 Crores to more than 30,000 customers across 1500+ cities in the country. It gets more than 100,000 applications per month, mostly from Tier II, III, and Tier IV cities in India. By the end of this year, it intends to reach an annualized disbursal run-rate of more than Rs 1000 Crs in a single year.
Rohit Anand, Head – Fintech – Retailio said, “One of the core business requirements of our retailer base is enabling seamless financial products for their core purchases. FlexiLoans has been at the forefront of digital providing multiple lending products via its strong technology interface and credit models and will unlock many opportunities for our Retailers and distributors on the Retailio platform.
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