Latest News | UdaanCapital Partners with Northern Arc Capital to Facilitate Disbursal of Credit to over 50,000 Kiranas/ Retailers

Bengaluru, Apr 26 (PTI) Fintech player 'udaanCapital' on Tuesday said it has partnered with Northern Arc Capital Limited and facilitated disbursal of credit to over 50,000 kiranas and small retailers.

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udaanCapital 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, it said in a release.

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Thereby udaanCapital also catalyses kirana commerce on the udaan platform, it said, adding that "today, more than a third of sales on udaan, India's largest B2B commerce platform, is powered by udaanCapital."

udaanCapital currently facilitates disbursal of over Rs 8,000 crore of credit per annum to over 1.5 lakh kiranas/small businesses across the country.

The credit limits offered range from Rs 10,000 to Rs 25 lakh and the credit tenures offered are short term.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)