New Delhi, Mar 24 (KNN) With an aim to uplift Indian MSMEs, lending-as-a-service platform CreditVidya and Flipkart Wholesale have partnered to offer ‘Buy now pay later’ credit solution to Flipkart Wholesale’s 1.5 lakh merchants.

Through this pact, there will be a capital access of USD 100 million through multiple financial institutions which will help to address the credit needs of its merchants.

Speaking on the partnership, Abhishek Agarwal, co-founder and CEO, CreditVidya, said, “We are absolutely thrilled to launch a B2B BNPL solution in association with Flipkart Wholesale. Our shared vision of leveraging technology for good will empower and uplift Indian MSMEs by bringing in cost and operational efficiencies.”

It is our aim to create an encouraging ecosystem for the MSMEs to grow and excel which is the crux of this collaboration, Agarwal said.

A simple and easy-to-use multilingual application is designed to ensure easy and smooth onboarding of businesses.

After completing the onboarding process, businesses on Flipkart Wholesale can select for entirely digital and instant credit with a ticket size as small as Rs 500.

Adarsh Menon, Senior Vice President and Head, Wholesale said, the traditional payment market has been disrupted owing to the ‘buy now, pay later’ credit solution.

“Our MSME members are aggressively adopting new flexible payment solutions offered by companies like CreditVidya as it enables them to make larger purchases to scale their inventory, even if they don’t have that amount of cash on hand.”  (KNN Bureau)