Simpl joins hands with Klub to enable easy credit access for the fast growing D2C ecosystem in India
Expands its Booster Package which currently offers D2C enablers such as brand building, digital marketing and e-commerce through multiple partners
Simpl, India’s foremost one-tap checkout platform, today announced its partnership with Klub, a leading Revenue Based Finance company, to provide easy access to credit for the Direct-to-Customer (D2C) merchants and support them in meeting their working capital requirements. This partnership will enable credit access to merchants at affordable interest rates with flexible terms in a complete digital fashion.
Simpl aims to tackle a significant challenge faced by D2C merchants experiencing hyper-growth by including capital-as-a-service in its booster package for partner merchants. This initiative will enable long-term value creation and help resolve a major pain point for many digitally native companies in India. With this partnership, Simpl is also expanding its ‘Booster Package’ which provides exclusive access to services from various D2C enablers such as brand building, credit access, digital marketing and e-commerce consulting that helps boost business. These initiatives are aimed at creating a trusted ecosystem of D2C merchants that offer their customers high-quality products and a seamless payment experience.
According to the “Beyond E-commerce 3.0” report by Kalaari Capital, at least 50 million new users have been added to the Indian e-commerce platforms over the last two years as a result of the pandemic’s rapid digitisation. Along with this, India is anticipated to have 1.1 billion internet users by 2025, with 30% of them engaging in online shopping. This opens up a huge opportunity for D2C merchants that are expected to generate $50 billion in sales by 2025 and therefore, becomes imperative to support them on multiple fronts including credit access, discoverability and seamless payments and Simpl aims to be at the forefront of enabling this change.
Commenting on the partnership, Nitya Sharma, Co-founder and CEO of Simpl said, “As an organisation committed to developing the D2C merchant ecosystem in India, we are constantly striving to come up with innovative ways to solve the problem statements faced by the community. In this endeavour, we are delighted to announce the expansion of our Booster Package to provide credit access to the D2C community in partnership with Klub to support them in their working capital requirements. This is in continuation of our efforts to boost the D2C ecosystem in India and emerge as a preferred partner for the fast growing community in establishing their businesses”.
“At Klub, we’re revolutionising the way platforms offer financing to their merchants. Our innovative embedded capital product is a plug ‘n play lending solution that seamlessly integrates with our partners’ platforms. We are excited to partner Simpl in offering quick and flexible financing options to its growing community of D2C merchants to support them in meeting their growing business requirements. And with a range of capital partners to choose from, including banks, NBFCs, and our own credit fund, we ensure that merchants get the best possible financing solutions. We’re excited to be at the forefront of this change and to empower platforms to unlock the full potential of their merchant ecosystems,” said Anurakt Jain, Co-founder and CEO at Klub. As part of its efforts to support the D2C ecosystem, Klub aims to disburse loans worth Rs 200 crore over the next six months to small businesses across the country.
The D2C ecosystem in India is witnessing rapid growth due to the growing affinity of merchants towards building a unique customer experience, growing beyond the e-commerce marketplaces to have market access and build a direct relationship with the end customers. To enable this, the creation of an entire digital value chain including payment infrastructure becomes important to offer a seamless experience to millions of customers.
Simpl is a 1-tap checkout platform, making payments invisible and money intelligent. Simpl is on a mission to empower merchants to build trusted relationships with customers, one transaction at a time. With more than 26,000 available merchants and millions of approved users pan-India, Simpl envisions creating a frictionless and inclusive digital payments experience for India that empowers and fosters trust between merchants and their customers.
For more queries, kindly reach out to email@example.com
Klub, India’s leading Revenue Based Financing platform, provides flexible funding up to Rs. 30 crores to digital businesses and SMEs with recurring revenue. The company partners with leading NBFCs, HNIs, financial institutions, and its own SEBI registered fund to provide growth capital. Klub offers different capital structures for businesses across all stages (early, growth & late) for recurring marketing, inventory, and capex expenses. The company has deployed more than 900 investment rounds enabling growth for 450+ brands across India. Klub raised $20 million in seed funding from Sequoia Capital India’s growth program Surge, US-based Alter Global, Japan-based GMO VenturePartners, and 9Unicorns in 2021. For more information, visit www.klubworks.com