Freecharge to run Snapdeal’s Capital Assist Program
Snapdeal’s merchant lending program — Capital Assist will now be managed by Freecharge.
Under the new arrangement, sellers on Snapdeal, Shopo and Freecharge will be able to access working capital in a time efficient and cost effective manner to grow their businesses.
pital Assist, launched by Snapdeal in August 2014, enables banks & NBFCs to provide working capital to sellers based on their performance and track record at Snapdeal s marketplace. It has signed up with 25 financial institutions including SBI.
Earlier this week, Snapdeal also tied-up with taxi-hailing app Uber. Now, Snapdeal users can book an Uber for themselves directly via the company’s app.
Speaking about this integration, Tony Navin, senior vice president (Partnerships and Strategic Initiatives), Snapdeal said, “Our unique partnership with Uber, a global leader in smart mobility, is an important step in that direction. We are confident that this integration will further provide an exemplary experience to our customers.