Online financial platform Lendingkart today announced its partnership with women's fashion marketplace Voonik to help sellers on the platform avail easy and collateral-free short-term loans.
Voonik claims it has more than 6,000 merchants selling their products online, with over 7 million registered users and 5 million app downloads.
The strategic partnership with Lendingkart is aimed at helping sellers scale seamlessly, thereby catering to the increased demand of customers.
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"At Lendingkart, we wish to effectively streamline accessing of loans for SMEs. Aligned with this thought, Voonik has a huge customer base and sometimes, their selling partners face hurdles due to lack of working capital.
"Through this tie-up, we have attempted to simplify the process of loan disbursement and made working capital fund accessible to merchants via our affiliated NBFCs," Harshvardhan Lunia, Co-Founder and CEO, Lendingkart said.
"Recently, Voonik's selling partners were witnessing a 10-fold increase in demand for their products," Rameswar Misra, Head of the Marketplace at Voonik, said.
