Sales of consumer durables are expected to boom this holiday season, the biggest selling season of the year, translating into a huge user base for existing retail store owners. However, with the pandemic having had a huge impact on the offline retail market, securing working capital and meeting customer demand at a reasonable cost is a challenge for many.
Arzooo, a B2B retail tech startup with its Rs. 300 Crore line of credit, Arzooo Credit. This monetary shell was created to provide retail store owners with hassle-free lines of credit to run their business and use that ready money to grow their business, especially during the holiday season.
Under the Arzooo credit, retailers of consumer durables obtain credit ranging from Rs. 5 lakes to Rs 20 lakes as unsecured working capital (WC). The credit enrollment process is fully digital through the Arzooo B2B app and the credit is disbursed instantly to catalyze the customer handling process. Arzooo credit should be distributed to traders in the three tier cities, although about 75% of the credit is disbursed in tier 2 and tier 3 cities.
Founded in 2018, Arzooo.com, a B2B commerce platform, has established itself as the leading retail technology company in India, to enable physical stores to compete and grow against e-commerce giants. , with its technological platform “Go Store.
Also Read: Flipkart Launches ‘Flipkart Boost’ For Digital-Focused Consumer Brands
Khushnud Khan, Co-Founder and CEO of Arzooo, says: “Credit is an integral part of our overall vision for transforming offline retail. Arzooo credit organizes a fragmented and expensive credit mechanism that has traditionally existed for hassle-free, fully digital tinkering with instant credit disbursement. And the initial pull from the retail community has exceeded all of our projections. The working capital margin it provides to thousands of high-value retail stores will have a very significant impact on sustainable consumer retailing as a whole ”
Established banking and non-bank financial institutions have partnered with Arzooo to facilitate this Rs. 300 crore line of credit for store owners this festive season with broader plans for positive festive actions.