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India, August 29, 2016: Lendingkart Group has announced a strategic partnership with Unicommerce, the Delhi-based multichannel order fulfillment platform. The partnership will enable Unicommerce’s consumer base to get access to collateral-free working capital loans through Lendingkart Group’s NBFC within 72 hours of application at a discounted rate. Both players make an ideal synergistic match as they have been closely involved with SME merchants and understand the immense potential that lies untapped in this segment due to inadequate financial support.

The tie-up between Lendingkart Group and Unicommerce is aimed to provide working capital loans to Unicommerce retailers. The technology-backed Lendingkart Group’s NBFC enables loan disbursement process that comprises minimal paperwork and offers collateral-free loans to online retailers within 72 hours. It assesses the creditworthiness of a candidate through API scrutiny and online data scraping to ensure credibility rather than conventional methods that promote red-tapism. The swift assessment process takes a few hours and NBFC ensures that loan amount reaches the borrower within 2-3 days of the loan application. Unicommerce retailers will be offered discounted working capital loans enabling them to increase their inventory, pay for their liabilities and scale up their businesses.

At the announcement, Harshvardhan Lunia, Co-Founder and CEO, Lendingkart Technologies, said, “There are massive growth prospects for Indian retailers within the rapidly changing retail scenario of the country. Businesses often register losses and face challenges related to cash flows owing to their capital deficits. The tie-up with Unicommerce will help the Group to eliminate such challenges for its customer base and will moreover, enable retailers to increase their efficiency, scalability, and profitability with quick and easy working capital loans.”

Ankit Pruthi, CEO, Unicommerce said, “We understand that working capital finance is one of the key needs of SMEs in growing their business, and we believe that this partnership with Lendingkart Group will further boost our customers’ business. We are already helping the SMEs to improve their online sales through our product, and with this partnership, we are hoping to provide more avenues for growth to our customers.”

Lendingkart has developed technology tools, to provide lending solutions to lenders, which utilizes a unique mix of Big Data analytics, decision science, and other proxies to derive credit comfort and assess the creditworthiness of small business owners. Most of the credit risk analysis at the Group’s NBFC, is done digitally so that loans can be disbursed within 72 hours from the time of application.

About Lendingkart Group
Lendingkart Technologies is a fin-tech startup in the working capital space. It has developed technology tools based on big data analytics that facilitates lenders to evaluate borrowers’ credit worthiness. Aadri Infin Limited, a Lendingkart Group Company, is a non-deposit taking NBFC, offering small business loans for SMEs in India. The NBFC aims to transform small business lending by providing easy access to credit for SMEs. The NBFC uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately. Lendingkart Group aims to make working capital finance available at the fingertips of entrepreneurs, so that they can focus on business instead of worrying about the gaps in their cash-flows. We are currently based in Ahmedabad, Bangalore and Mumbai, but have a service reach across India. To know more, please visit http://lendingkart.com/

About Unicommerce
The SaaS based multichannel order fulfillment platform allows ecommerce merchants selling on multiple marketplaces like Snapdeal, Amazon, Jabong, Flipkart, eBay and so on, to manage their entire inventory and order fulfillment process through one single platform. In a short span of time, Unicommerce has built a strong customer base of 10,000+ sellers in more than 220 cities including big brands such as Monte Carlo, Swiss Military, Classic Polo, House of Anita Dongre, Reliance, Mahindra Retail, Carat Lane, Raymond etc. Ecommerce sellers love this product, as it helps them grow their sales, reduce costs and improve their seller ratings. For further information about the company or the product, please visit https://unicommerce.com/

Economic Times: Lendingkart Group Partners with Unicommerce to Facilitate Easy Loans to its SME Customers

Business Standard: Lendingkart Group Partners with Unicommerce to Facilitate Easy Loans to its SME Customers

The post Lendingkart Group Partners with Unicommerce to Facilitate Easy Loans to its SME Customers appeared first on unicommerce.com.

He went from being a cynical, cautious businessman with a shop in the market to being an actively ambitious online seller who is selling 24/7 on multiple marketplaces.  And the journey has been quite a learning experience he mentions. Would love to share these pieces of wisdom with you.

Perks of selling online on multiple marketplaces:

• The location does not matter! 

When selling from a physical store, if you get the location right, half the work is done. And we already know – the price of anything in demand goes up. That’s why getting a  good location is a costly affair. Only the big guys with deep pockets can afford it.

But when  selling online your location the same as the location of some fancy deep pocket brand. The customers see you and the big guys right next to each other. 

Just imagine how you wished to have the same kind of shop that your big-budget competitors had. But you could not. Today, online marketplaces provide a level playing field for small players who are beginners. You just need to manage your supply chain to sell goods online.   

• Increased Brand visibility & profits

In my initial days  – I had jokingly commented to my colleagues many times that – “Only If I could be at multiple places at the same time”. How can I be ? Silly of me!

But now – Some if it has come true. Sellers can be at multiple places at the same time.

It’s not Magic. It’s called Ecommerce.

Today, people sell on Flipkart, Snapdeal, and Jabong, at the same time! And manage all of the marketplace with a small team. The same team that used to cater to one small shop on the street.

Unlike conventional businesses where we get to sell our products on certain very selective places, ecommerce provides the facility to sell on multiple channels. Selling through various virtual marketplaces has not only increased visibility but also helped sellers to establish brand among a huge base of customers. Goes without saying that selling on multiple channels has multiplied profits of sellers. 

• No more unattended customer in your shop – Even during festive seasons

Usually, in a traditional shop, we need sales persons to attend to our customers. During festivals or any other special occasion, it becomes very difficult to handle lots of customers at one time. And in this scenario, the possibility of the customers going back from the shop unattended is quite high. It not only creates a negative impression on prospects but also destroys our chances of achieving business goals. 

On the other hand, an  online setup provides a huge advantage over offline stores. Contrary to a traditional shop, eCommerce allows to attend a huge number of customers at any point of time. A simple integration of multichannel order management software can further help you manage all the sales from singly dashboard.

By providing detailed information on the product description along with high-quality images, one can provide a virtual human experience to its customers. This further helps in ensuring a high customer satisfaction rate and attracting and retaining customers.  

•  Not Just More, but Better Footfall!

We always tried to get more footfall in our shop. Because at the back of our mind, we are clear that if 100 people walk in, at least 5 will like our products and buy them. But what about the 95 who don’t buy. It’s true that more footfall leads to more sales.  But there is a limit to the level we can take this approach.

Even the best shops have not more than 10% conversion rate.

Surprisingly, ecommerce shops have more than 20-30% conversion rate. The reason being – In ecommerce people come looking for your product. Such focused traffic is much higher online as compared to offline shops. They are already convinced about buying it, all they need is a little push. So  this means there is no limit to footfall and the conversion rate is even higher.

• No bargains

 In India, customers can be identified by certain very typical traits. One of the most popular traits of an India buyer is a bargain. Sometimes, in the process of bargaining, the seller has to compromise on his profits. While shopping online the customers can’t go for bargaining on prices of the products. They can only choose from a wide range of products with fixed price tags. The seller has the ultimate say on product prices.

 Of course, you can choose to give them discounts on particular items, for particular period, for particular type of customers. But you have total control over it. No more hassling with every other customer over price.

• No worries about holidays or closing time

When you are selling online, you are working 365 days and 24 x7. So, you don’t worry about the holidays or closing time, unlike offline or brick and mortar shop does each time there is a holiday (s) or bandh. There are abiding by the law, as they can’t be open 24 hrs. 

• New business options 

Dropshipping is the new business option for the new sellers as well as for the established business holders. The new option in the market makes space for new products to get introduced in the market. Apart from that, increases your revenue without making any huge investment in the business. You just need to collaborate properly with the logistics partners as well as with the seller. 

• Riskless business!

Business always comes with uncertainty. But this uncertainty turns into risk when stakes go up. In our regular business, once you up the stake, it becomes very difficult to take a step back. Also, the investment that is required to grow is quite substantial in offline business. In eCommerce, it takes just a fraction of that amount to start catering to more customers.

No wonder so many first time businessmen are lining up to open their shop online. And many of them are doing well.

Previously, when it’s about starting a business; the main concern of any prospective businessman was to gather a huge amount of money. They either had to use their savings or take bank loans or borrow from different people. Under this condition, if they would fail to achieve success, it would ruin them completely. Here, e-commerce portals have appeared as a great platform. Selling online or setting up an online store doesn’t cost much. Failing here is not a Punishable offence!

 Besides, we don’t share our hard earned profit parts with local hooligans.

What are you waiting for? Book a consultation with Unicommerce, to look after your daily ecommerce and retail business. It eases your daily business operations; merges your online and offline business together; automates your inventory and warehouses; ERP integration with your software;  and much more.

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