Simpl collaborates with Klub to allow credit access for D2C merchants in India

Commenting on the partnership, Nitya Sharma, Co-Founder and CEO of Simpl, said: "As an organization committed to developing the D2C business ecosystem in India,

To provide direct-to-customer (D2C) merchants simple access to credit and help meet their working capital needs, Klub, Revenue Based finance company, and Simpl, the industry's first one-click payment platform India, today announced their partnership. Under this collaboration, merchants will enjoy comprehensive digital access to financing at low interest rates with flexible terms.

Simpl includes Capital as a Service in its enhanced partner merchant program in an effort to address a key difficulty facing hyper-growth D2C merchants. For many digitally native Indian companies, this program will enable long-term value creation and help alleviate a major pain point. Through this collaboration, Simpl is also expanding its "Booster Package", which gives clients one-stop access to enable D2C services including branding, credit access, digital marketing and e-commerce consulting that fuel the growth of the company. These programs are designed to build a trusted network of direct-to-consumer (D2C) merchants who provide their customers with high-quality products and a seamless checkout process.

According to Kalaari Capital's "Beyond E-Commerce 3.0" research, the rapid digital transformation of the pandemic has added at least 50 million new customers to India's e-commerce platforms in the past two years. Furthermore, by 2025, India is expected to have 1.1 billion internet users, 30% of whom shop online. As a result, it becomes imperative to help D2C merchants on multiple fronts, including access to credit, visibility, and frictionless payments. Simpl aspires to be at the forefront in facilitating this transition, as D2C merchants are estimated to generate $50 billion in sales by 2025.

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Commenting on the partnership, Nitya Sharma, Co-Founder and CEO of Simpl, said: "As an organization committed to developing the D2C business ecosystem in India, we constantly strive to come up with innovative ways to solve the data problems facing society. In this effort, we are pleased to announce the launch of the expansion of our Booster package to provide credit access to the D2C community in partnership with Klub to help them with their working capital requirements. This is a continuation of our efforts to strengthen the ecosystem D2C in India and emerge as the partner of choice for the fast-growing community to establish their business."

"At Klub, we are revolutionizing the way platforms offer financing to their merchants. Our innovative embedded capital product is a comprehensive lending solution that integrates seamlessly with our partner platforms. We are excited to partner with Simpl to provide fast and flexible financing options to its growing community of D2C merchants to help them with their business requirements with a range of capital partners to choose from, including banks, non-bank finance firms, and our own trust fund, we make sure that merchants receive the best financial solutions possible. We are excited to be at the forefront of this change and enable platforms to unlock the full potential of their trading ecosystems.”

Klub aims to provide small businesses across the country with loans totaling Rs 200 crore over the next six months as part of its efforts to foster the D2C ecosystem.

Also Read: Will online payments become costlier? NPCI sets 1.1% interchange fee on UPI payments

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