With its Fin-tech foray, Arzooo Credit, B2B Retail Tech startup is aiding offline retailers with working capital headroom by offering Credit up ₹20 Lacs
Consumer durable sales are set to undergo a boom this festive season, the biggest sale season of the year, it translates to a huge user base for existing retail store owners. However, with the pandemic having impacted the offline retail market tremendously, securing working capital and catering to customer demand at a reasonable cost is a challenge for many. Paving the path for them is Arzooo, a B2B retail technology startup with its Rs. 300 Crore credit line, Arzooo Credit. This monetary shell has been created to equip retail store owners with hassle-free credit lines to run their business and use this ready cash to grow their business, especially during the festive season.
Under Arzooo Credit, Consumer durable retailers get credit ranging between Rs. 5 lacs to Rs 20 lacs as unsecured working capital (WC). The process of registering for credit is all digital through Arzooo B2B App and the credit is disbursed instantly to catalyse their customer fulfillment process. Arzooo credit is slated to be distributed to merchants across all three Tier cities though about 75% of the credit is being disbursed in Tier 2 & 3 cities.
Khushnud Khan, Co-founder & CEO, Arzooo, states, “Credit lending is integral to our overarching vision of transforming offline retail, Arzooo credit is Organizing a fragmented, high cost credit mechanism that existed traditionally to a hassle free, all digital DIY with instant credit disbursal. And the initial traction to it from the retail community has outpaced all our projections. Working capital headroom that it offers to thousands of high value retail stores will be very impactful for consumer durable retail overall”
Established banking and non-banking financial institutions have teamed up with Arzooo to facilitate this Rs. 300 crore credit line for the store owners this festive season with larger plans for positive festive actions
Founded in 2018, Arzooo.com, a B2B commerce platform, set out itself to be India’s leading retail technology venture, to empower physical stores to compete and grow against e-commerce giants, with its technology platform “Go Store.