Ebay ties up with Capital Float to provide lending to sellers

The e-Commerce player hopes this arrangement will enable sellers to ship more products

Online commerce player eBay India has partnered with Capital Float, a digital financing firm, to provide working capital to sellers attached with it.

The tie up will enable sellers attached to eBay India avail collateral-free loans starting from Rs 1 lakh to Rs 1 crore from Capital Float within three days at competitive interest rate, the company said in a statement.

Ebay hopes this arrangement will enable the sellers to ship more products.

"Our association with Capital Float is an effort to support our sellers by providing them financial assistance and help them ship more," said Pankay Ukey, Director, Seller Service and Technology Category, eBay India.

Capital Float is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India. It is a dominant player in the e-commerce lending space that includes partnerships with other e-commerce players such as Snapdeal, Flipkart, Myntra, PayTM.

Within a few days of its association with eBay, Capital Floats has so far disbursed Rs 10 crore as loans to its sellers, the online retail company said.