Thursday, August 11, 2022

ePayLater Mulls Expansion in Northeast, East India

Fintech startup ePayLater is mulling expansion of its retailer and neighbourhood store user base in the Northeast, eastern region and tier 2 and 3 cities of the country in the next few years.
The firm, which has a presence of around 15 per cent in the credit space of the Northeast and the east, provides zero-cost credit solutions to small and medium enterprises (SMEs).
The company intends to penetrate further to empower the SMEs by creating a credit and tech-enabled network, which facilitates smooth flow and higher efficiencies in the supply chain, co-founder Aurko Bhattacharya told PTI in an interaction.
He said ePayLater not only facilitated grocery stores to get not just the widest assortment of products under one roof, but also a consistent and interest-free credit window of 14 days across all their purchases.
“We at ePayLater, aim to provide a seamless financial and technology-first solution to solve existing problems and help them (distributors and retailers) increase their sales, reduce costs and increase margins through the use of technology,” Bhattacharya said.
As the retail model evolves, traditional trade, the biggest contributor to the fast-moving consumer goods, is gradually adopting technology to modernise itself and double its business growth, according to the co-founder. ‘’We feel this has immense potential in tiers II and III cities across the country,” he said.
The startup has a large retail base spread across 80 cities of India and has disbursed over Rs 1,900 crore in facilitating inventory purchases. ‘’Each stakeholder in the supply chain is both a buyer and a seller,” Bhattacharya said.

SourcePTI

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