eBay India partners Capital Float to finance sellers

Online marketplace eBay has partnered Capital Float, a digital financing platform, to provide finance to e-commerce sellers across the country in under three days. Together with Capital Float, eBay hopes to provide its seller-partners with that much needed shot of capital to help them win in a highly competitive market, the companies said in a statement. Sellers from across the country can avail collateral-free finance from Capital Float ranging from Rs 1 lakh to Rs 1 crore at industry-competing interest rates.

"eBay India has been at the forefront of creating tools that have enabled business growth for its sellers, irrespective of their size. "Our association with Capital Float is an effort to support our sellers by providing them financial assistance and help them ship more," eBay India Director Seller Service and Technology Category Pankay Ukey said. Sashank Rishyasringa, co-founder of Capital Float, said: "It has been only a few days since our alliance with eBay was formalised and we have already disbursed loans of close to Rs 10 crore to sellers on eBay".

Other e-commerce players like Snapdeal, Flipkart and Paytm have also forged similar partnerships to enable SMEs procure loans in a hassle-free manner.