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  Technology   In Other news  18 Jul 2020  Digital credit solution launched to provide small retailers with working capital

Digital credit solution launched to provide small retailers with working capital

THE ASIAN AGE | CHANDRASEKHAR G
Published : Jul 18, 2020, 8:22 pm IST
Updated : Jul 18, 2020, 8:22 pm IST

Arzooo Credit will provide the necessary funds to Arzooo’s partner stores to help them get back on track after the pandemic halted sales..

At present, Arzooo Credit is available to over 5,000 retailers across 10 cities.
 At present, Arzooo Credit is available to over 5,000 retailers across 10 cities.

Bengaluru:  Digital venture Arzooo.com has launched a digital credit product for online retailers called ‘Arzooo Credit’, which will provide a working capital cushion to Arzooo’s partner stores.

With Arzooo Credit, retailers can avail Rs 1 lakh to Rs 10 lakh credit easily through a paperless platform. Quick access to credit is especially helpful at a time when the retail sector is trying to get back on its feet after months of halt.  

“Credit is integral to retail. Arzooo Credit is a significant step forward in creating working capital headroom that will help store owners conduct their business seamlessly,” Arzooo CEO and Co-founder Khushnud Khan, said, announcing Arzooo Credit.

At present, Arzooo Credit is available to over 5,000 retailers across 10 cities.

A digital lending solution, the platform also has a simple touch re-payment option.

Arzooo seeks to empower offline stores to compete effectively with larger e-commerce websites. With the credit service, Arzooo aims to solve the immediate working capital needs of offline retailers, which is hard to meet during a slump or seasonal spikes.

A statement from the company said Arzooo also helps its partner electronics retail stores address their persistent problem of inventory selection, pricing, and sourcing supply chain.

Tags: credit, working capital, digital credit