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Flipkart wholesale partners with Davinta for MSMEs
September 20, 2021
Flipkart Wholesale, the digital B2B marketplace of Flipkart Group, has partnered with Davinta, an SME lending platform, to offer a ‘Buy Now Pay Later’ credit facility to its retailers, the organization said in a media release.
“With BNPL we are currently allowing retailers across the country to open themselves from cash constraints while buying supplies and enjoy simple one-click credit access,” said Ravi Garikipati, CEO, Davinta.
As the economy gradually limps back to typical and the festive season coming up, consumer demand is increasing as is the demand for credit among retailers.
“We are confident that this construct will allow more and more of our Kirana and MSMEs individuals to enjoy the benefit of accessible and affordable credit chasing growth on our platform,” said Adarsh Menon, senior VP, and head, Flipkart Wholesale.
As indicated by the delivery, Flipkart Wholesale’s supplier base is relied upon to become 58% in 2021. It saw 17% development in its Kirana client base in January-June 2021 compared with a similar period last year. The Kirana client base is projected to grow by 33% in July-December 2021, compared with a similar period last year.
Bengaluru-based Davinta was started by ex-Flipkart CTO Ravi Garikipati and US-based entrepreneur Raj Vattikuti in 2019 and focuses on micro-enterprises and the BNPL credit facility designed for small retailers.
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