The Fintech FlexiLoans.com platform has partnered with Retailio, a business-to-business healthcare marketplace, to provide working capital loans to its more than 1,000,000 retailers and distributors across the country.
This partnership aims to fund more than 15,000 pharmaceutical retailers over the next 18 months.
Deepak Jain, co-founder of FlexiLoans, said: “The Indian pharmacy market is a $ 40 billion market and operates in the most remote city in the country and often these units require timely and adequate funds for seasonal peaks, new product launches and business expansion. FlexiLoans.com has extended its ecosystem partnerships to provide small businesses with the best loan proposition through our co-loan platform and our partnership with Retailio is imminent in that direction ”.
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Since its inception in 2016, Flexiloans.com has paid over 1,000 crore yen to over 30,000 customers in 1,500 Indian cities. It receives over 100,000 inquiries per month, mostly from Tier II, III and Tier IV cities in India.
Rohit Anand, Head, Fintech, Retailio, said: “One of the main business requirements of our retailer base is to enable transparent financial products for their core purchases. FlexiLoans has been at the forefront of digital, providing multiple loan products through its strong technological interface and credit models and will open up many opportunities for our retailer and distributors on the Retailio platform. “
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By the end of this year, it aims to achieve an annualized disbursement rate of 1,000 crore in a single year.