New Delhi, December 5, 2023: Shiprocket, India's leading eCommerce enablement platform has now opened the doors to seamless revenue-based financing for SMBs with Shiprocket Capital. The platform aims to disburse around INR 100 crores to SMBs, in the next 12 months. In line with its mission of enabling the ease of doing business for Indian merchants, Shiprocket Capital promises to transform the financing landscape for emerging eCommerce businesses by enabling financing that is easy, quick, collateral-free and liability-free. In its pilot phase, Shiprocket has already enabled around 150 SMBs with access to vital growth capital and disbursed more than INR 35 crores via Shiprocket Capital.
According to a report by IBEF, India is home to over 5,00,000 eCommerce businesses, but traditional financing methods have long presented challenges for eCommerce entrepreneurs. Offering a swift and efficient means of accessing much-needed capital, revenue-based financing is increasing the startup growth by up to 30%.
Leveraging this potential, Shiprocket Capital presents a big opportunity for the 3 lakh merchants on the platform with a GMV of 30,000+ crores to scale their business and secure up to INR 10 Crores in revenue-based financing.
In order to enable seamless capital disbursement Shiprocket has partnered with India's leading Non-Banking Financial Companies (NBFCs) like InCred, Indifi, Klub, Stride, Vedfin, Velocity, and GetVantage. With Shiprocket Capital, Shiprocket promises to empower eCommerce businesses to accelerate their growth by providing access to hassle-free fund disbursal which happens within 2 days of document submission.
Saahil Goel, Co-founder and CEO of Shiprocket said, “India is on track to build a thriving ecosystem of 1 million eCommerce businesses by 2025. As an eCommerce enablement platform, we aim to empower them with flexible capital to grow their businesses and prove to be their partner in growth through Shiprocket Capital. We understand the unique challenges faced by entrepreneurs in today’s competitive landscape, and our goal is to empower them with accessible and rapid financing which is available at a click of a button. Shiprocket Capital is tailored for eCommerce and we are offering a solution that enables eCommerce innovators to fuel their growth without compromising on their vision or equity.”
Shiprocket Capital caters to eCommerce businesses operating across diverse categories, including fashion, consumer electronics, beauty and personal care, home and kitchen, and jewellery and accessories. 100+ emerging eCommerce brands have harnessed the power of Shiprocket Capital to acquire new customers and scale their businesses.
Shiprocket is India’s largest eCommerce enablement platform on a mission to empower the businesses of Bharat to scale their ventures by unleashing the true power of eCommerce. The platform helps the sellers at every step of their eCommerce journey, creating an operating system for direct commerce. Their stack of tech integrations enables shipping, fulfilment, customer communication and marketing tools as well as providers for SMEs, D2C retailers, and social commerce retailers in India.
Launched in 2017, Shiprocket is on a mission to create a seamless logistics data platform that connects retailers, carriers, and consumers across national and international locations. Shiprocket provides a technology stack to help retailers integrate their shopping websites on Shopify, Magento, WooCommerce, Zoho, and others with the platform’s multi-carrier API to manage orders, prints, and shipping labels. It also avails tracking information from multiple providers including managing Cash on Delivery (COD) orders and payment reconciliation. Shiprocket also offers state-of-the-art fulfilment solutions with more than 45 warehouses located across India. The technology stack provides a robust post-purchase experience to consumers resulting in higher engagement and lower RTO (failed deliveries). With 25+ courier partners on board, the brand permits pan-India as well as international shipping deliveries. Its shipping solutions are available across 24,000+ pin codes within India and 220 countries and territories worldwide.