Mar 30, 2023, 04:40 pm
In order to give Direct-to-Customer (D2C) merchants simple access to credit and help them fulfil their working capital needs, Klub, a leading Revenue Based Finance firm, and Simpl, India's premier one-tap checkout platform, have announced their partnership today. Under this cooperation, merchants will have comprehensive digital access to finance at low-interest rates with flexible terms.
Simpl includes capital-as-a-service in its booster program for partner merchants in an effort to address a key difficulty encountered by D2C merchants experiencing hyper-growth. For many Indian enterprises that are digitally native, this programme will allow long-term value generation and help alleviate a significant pain point. With this cooperation, Simpl is also extending its "Booster Package," which gives customers unique access to D2C enabling services including brand development, credit access, digital marketing, and e-commerce consultancy that promotes company growth. These programmes are designed to develop a reliable network of direct-to-consumer (D2C) merchants that provide their clients with high-quality products and a smooth payment process.
According to the "Beyond E-commerce 3.0" research by Kalaari Capital, the pandemic's rapid digitalization has resulted in at least 50 million new customers being added to the Indian e-commerce platforms over the previous two years. Also, by 2025, India is expected to have 1.1 billion internet users, 30% of whom would be engaged in online shopping. As a result, it becomes crucial to assist D2C merchants on numerous fronts, including credit access, discoverability, and frictionless payments. Simpl aspires to be at the forefront of facilitating this transition because D2C merchants are estimated to produce $50 billion in sales by 2025.
Commenting on the partnership, Nitya Sharma, Co-founder and CEO of Simpl said, "As an organisation committed to developing the D2C merchant ecosystem in India, we are constantly striving to come up with innovative ways to solve the problem statements faced by the community. In this endeavour, we are delighted to announce the expansion of our Booster Package to provide credit access to the D2C community in partnership with Klub to support them in their working capital requirements. This is in continuation of our efforts to boost the D2C ecosystem in India and emerge as a preferred partner for the fast growing community in establishing their businesses."
“At Klub, we’re revolutionising the way platforms offer financing to their merchants. Our innovative embedded capital product is a plug ‘n play lending solution that seamlessly integrates with our partners’ platforms. We are excited to partner Simpl in offering quick and flexible financing options to its growing community of D2C merchants to support them in meeting their growing business requirements. And with a range of capital partners to choose from, including banks, NBFCs, and our own credit fund, we ensure that merchants get the best possible financing solutions. We’re excited to be at the forefront of this change and to empower platforms to unlock the full potential of their merchant ecosystems," said Anurakt Jain, Co-founder and CEO at Klub.