Online marketplace ShopClues has launched its financing platform for vendors, Capital Wings, through which sellers will get funding without any collateral.

“Constantly looking for ways to empower its merchant base, the marketplace has tied up with third party finance providers (Nationalised Banks and NBFCs) to offer working capital to vendors at highly competitive rates and without collateral. The objective is to enable merchants with ambition to scale their business to newer heights,” ShopClues said in a statement.

In its initial phase, ShopClues has partnered with Capital Float for this initiative with an official agreement. It is also in talks with other players in this domain to offer more choices in financing solutions to its sellers. The pilot project has been completed and it will now launch the platform for its merchant base of over 1.50 lakh vendors.

ShopClues Co-founder & CEO, Sanjay Sethi, said, “Merchant satisfaction is a very important business metric for us at ShopClues. They are equal stakeholders in our success and we wish to help them infuse new blood and energy into their businesses with this financing platform. Those who aspire to grow their ventures manifold, will be provided with a convenient platform where the process from application to loan amount disbursement will be complete within a week.”

The merchants can apply for loans very simply on the vendor dashboard by clicking on the merchant financing section. After the online application, on the basis of the merchant’s past performance and his rating on ShopClues, the merchant will be eligible for the loan amount which will be processed in the speediest and most hassle-free ways.

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