Razorpay starts lending service for small businesses hit by Covid-19

The firm has launched a collateral-free line of credit, 'Cash Advance' for small businesses who can borrow working capital with a credit limit of Rs 50,000 to Rs 10 lakh, within 10 seconds

Financial technology company Razorpay has started going deeper into the Indian financial services market. The Tiger Global and Sequoia-backed firm is starting a new lending service for small businesses, seeking various ways for accessing easy and flexible credit. It would help them maintain constant cash flow and also repay the borrowed interest with flexible timelines.
 

Razorpay has launched a collateral-free line of credit, ‘Cash Advance’ for businesses. With Cash Advance, the company said MSMEs (micro, small and medium enterprises) can borrow working capital with a credit limit of Rs 50,000 to Rs 10 lakh, within 10 seconds through the Razorpay