Snapdeal sellers raise over Rs 50 cr through Capital Assist

eCommerce major Snapdeal today said it has helped more than 150 sellers raise over Rs 50 crore through its ‘Capital Assist’ initiative.

Launched in August last year, Capital Assist helps sellers meet their working capital requirement as they scale their businesses on the Snapdeal marketplace platform.

Banks and NBFCs like Axis Bank, ICICI Bank, HDFC Bank, RBL, Religare and L&T Finance are part of this initiative.

“On an average, the benefiting sellers have doubled their turnover within two months of availing the assistance through this platform,” Snapdeal said in a statement.

The aim is to empower over 1,000 of Snapdeal sellers in the next one year through this platform and extend the network to 25 banks and NBFCs by end of this year, Snapdeal CFO Aakash Moondhra said.

Source: Business Standard