udaan Capital has collaborated with Northern Arc Capital Limited to facilitate credit disbursal to about 50,000 kiranas and small retailers. The company helps such retailers to make purchases for their stores from various suppliers on the udaan platform with credit lines provided by its lender partners.
udaan Capital Head, Chaitanya Adapa said, “Our mission is to empower and drive kirana e-commerce by offering formal credit to the small retailers of our country. We strongly believe that the appropriate solution to eliminating the working capital gap in small retailers lies in taking a trade-oriented view of risk management, and just as importantly helping our lender partner take the same view. We could find a like-minded partner in Northern Arc, who shared our vision and came on board at a very early stage.”
MD and CEO Northern Arc Capital Ashish Mehrotra said, “At Northers Arc, we endeavor to be leaders in finding innovative solutions to enable finance for MSMEs and the next billion households. We do this directly and through enthusiatic partners like udaan. Nimbus, our digital platform enables us to integrate effortlessly with partners, ensuing speedy disbursements and enhanced experience for borrowers.”
