Tata Capital has tied-up with online retail major Snapdeal under its Capital Assist programme for financing sellers and online merchants.
Pradeep Bandivadekar, COO – Corporate Finance Division, Tata Capital, said, “Tata Capital aims to be truly customer-centric by customising our products and providing superior digital services to our wide range of customers. The partnership with Snapdeal is a step in this direction."
Under the arrangement, Tata Capital will provide unsecured loans from Rs 5 lakhs to Rs 2 crore to meet the working capital needs of Snapdeal’s sellers at competitive rates and with flexible tenures.
Snapdeal, India’s largest online marketplace, caters to a wide array of categories and products through over 150,000 connected sellers from over 5000 locations across the country.
Tata Capital, the financial services arm of the Tata Group, caters to the diverse financial needs of retail and corporate consumers. Tata Capital’s Supply Chain Finance is one of its key product offerings with a book size of over Rs 5000 crore.