India’s homegrown digital B2B marketplace Flipkart has announced a partnership of their wholesale marketplace Flipkart Wholesale with fintech firm Rupifi. They will now be offering Embedded Buy Now, Pay Later (BNPL) to the MSMEs (micro, small and medium enterprises) doing business on the Flipkart Wholesale platform.
Speaking on the partnership, Adarsh Menon, Senior Vice President and Head of Flipkart Wholesale, said: “Flipkart wholesale is focused on ensuring that the benefits of digitisation trickle to the entire B2B retail ecosystem. Reiterating our deep-rooted commitment to bringing prosperity to kiranas and MSMEs, we are elated to strengthen our credit offerings in partnership with Rupifi.”
The company believes that financial inclusion can only happen if credit is provided quick, easy and affordable. “With BNPL we are now allowing retailers across the country to unlock themselves from cash constraints while purchasing supplies and enjoy simple one-click credit access,” he added.
The e-commerce giant claims that the partnership will enable around 1.5 lakh kiranas and MSMEs to get instant and digital credit, with flexible repayment terms, and transparent pricing. To ease customer onboarding on the platform, Flipkart Wholesale and Rupifi teams are said to have designed a multilingual application, that helps retailers use the app in less than a minute!
The co-founder of Rupifi, Ankit Singh said that by using technology, logistics and supply chain expertise, Flipkart is bringing cost efficiencies and convenience to the doorsteps of millions of Indian MSME across many categories like grocery, general merchandise, fashion, electronics and consumer durables. “We are excited to partner with them and provide the MSMEs with a completely digital, flexible and instant credit experience, localised to their requirements. Our BNPL product is offered to their MSME customers in an Omni-Channel manner, both In-App as well as In-Store, with a ticket size as low as Rs. 5,000, for even the smallest retailer.”
For the unversed, Rupifi is India’s 1st Embedded Lending Fintech, providing its deep integrated Embedded BNPL to B2B Marketplaces, powering MSMEs with a purchase credit line with flexible repayment options, usage-based interest and zero fees. It works with more than a dozen top B2B Marketplaces and is serving MSMEs in 200+ cities across the country and recently also had tie-ups with Muthoot Finance. It was founded in 2020 by Anubhav Jain and Ankit Singh.