Shiprocket Empowers SMBs with Rs 10 Crore Revenue-Based Financing Through Shiprocket Capital
Shiprocket, the e-commerce logistics and shipping software firm, has launched Shiprocket Capital, offering up to Rs 10 crore in revenue-based financing to small and medium businesses (SMBs) in the online space. This collateral-free initiative aims to inject Rs 100 crore into SMBs over the next 12 months, fostering growth in inventory, marketing, production, and market expansion.
E-commerce logistics and shipping software firm, Shiprocket, unveiled Shiprocket Capital on Tuesday, introducing revenue-based financing of up to Rs 10 crore for small and medium businesses (SMBs) engaged in online operations. The initiative aims to provide Rs 100 crore in capital to SMBs within the next 12 months, employing a collateral-free approach without equity dilution, facilitating inventory scaling, marketing boosts, production enhancements, and market expansions.
Repayment terms involve a one-time fee coupled with a percentage of the generated revenue by the SMB. Shiprocket Capital is set to serve e-commerce businesses spanning diverse categories, including fashion, consumer electronics, beauty and personal care, home and kitchen, as well as jewelry and accessories.
During its pilot phase, Shiprocket Capital disbursed over Rs 35 crore to approximately 150 SMBs. In collaboration with partner non-banking financial companies (NBFCs), such as InCred, Indifi, Klub, Stride, Vedfin, Velocity, and GetVantage, the company pledges to disburse capital within two days of receiving documents from the SMB.
Saahil Goel, Co-founder and CEO of Shiprocket, expressed the company's commitment to supporting the thriving ecosystem of one million eCommerce businesses in India by 2025. As an eCommerce enablement platform, Shiprocket aims to empower these businesses with flexible capital for growth, positioning Shiprocket Capital as their growth partner.
Established in 2017, Shiprocket offers a technology stack to help retailers integrate their shopping websites with the platform's multi-carrier API, streamlining order management, prints, shipping labels, and tracking information. The company provides additional services such as marketing automation, financing solutions, influencer marketing, fulfillment options, and brand-building solutions.
What's Your Reaction?
