Wydr, Lendingkart tie up for access to finance for associate traders

B2B mobile first marketplace in India Wydr announced its partnership with Lendingkart Group to offer collateral free business loans to Buyers and SMEs.

Under this partnership Wydr aims to provide short term credit for inventory purchase to retailers and shopkeepers.

The initiative is a part of Lendingkart Group's commitment to provide easy access to capital to merchants and SMEs.

Wydr shall provide the technology interface to its buyers to seamlessly apply for credit from within its App.

Their innovative use of technology further simplifies the lending process, enhances speed, provides price transparency, improves customer experience and reduces borrowing cost for businesses of all sizes.

The maximum amount of loan that an SME can apply for is Rs. 10 Lakhs. This facility shall be available to all registered business users of Wydr for transactions through its platform with immediate effect.

"Wydr helps manufacturers, brand owners, importers or wholesale distributors in reaching out to a large audience across the country and we are committed to provide our buyers and sellers with simple, seamless buying and selling experience," said VP-Business Development Wydr, Rishabh Dhyani.

"The SMEs in the business would no longer have to worry about issues like arranging funds for operational purposes. The partnership with Lendingkart Group is an effort in that direction," added Rishabh Dhyani.

Lendingkart Group NBFC utilizes Big Data analytics and other proxies to derive credit comfort and assess the creditworthiness of small business owners.

The entire process of credit risk analysis is done digitally by the Group NBFC so that loans can be disbursed within 72 hours even in the semi-urban and tier-II cities.

"The benefits we provide at Lendingkart Group allow the entrepreneurs to leverage their core strengths and business goals as against the cash-flow requirements. The partnership with Wydr is an effort to simplify the process of loans disbursement and make capital accessible via our completely online application process," said Co-Founder and CEO Lendingkart Technologies, Harshvardhan Lunia.