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udaanCapital ties up with Northern Arc Capital for financing 50,000 kiranas

udaanCapital currently helps disburse over Rs 8,000 crore credit a year to 150,000 kiranas and small businesses. The credit is short-term and ranges from Rs 10,000 to Rs 25 lakh.

udaanCapital, one of India’s leading fintech players, said that it has partnered with Northern Arc Capital Limited and facilitated the disbursal of credit to over 50,000 kiranas and small retailers. udaanCapital, which is the fintech arm of e-commerce firm udaan, enables such retailers to make purchases for their stores from a wide array of suppliers on the udaan platform with credit lines provided by its lender partners. Thereby udaanCapital also catalyzes Kirana commerce on the udaan platform.

“Our mission has been to empower and drive Kirana e-commerce by providing formal credit to the small retailers of our country. We have always believed that the right solution to closing the working capital gap in small retailers lies in taking a trade-centric view to risk management – and just as importantly helping our lender partners take a similar view,” said Chaitanya Adapa, Head – udaanCapital. “In Northern Arc, we found a like-minded partner.

Source – Business Standard. https://www.business-standard.com/article/companies/udaancapital-ties-up-with-northern-arc-capital-for-financing-50-000-kiranas-122042600616_1.html

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