Snapdeal rolls out Rs 1000 cr festive bonanza for sellers

September 06, 2016 17:42

Online marketplace Snapdeal has announced collateral-free loans worth Rs 1,000 crore for its sellers ahead of the festive season to enable them to stock up adequately.

The loans would be disbursed through its ongoing programme -- Capital Assist -- which is now managed by FreeCharge and is available to all sellers and merchants on Snapdeal, Shopo and FreeCharge, Snapdeal said in a statement.

"The festive season provides an opportunity to our sellers to grow their businesses many times over, with the sharp increase in demand. Through Capital Assist, we have made the funding process frictionless and expect more than Rs 1,000 crore disbursal to Snapdeal sellers ahead of this Diwali season," Vishal Chadha, the senior vice president (market development) of Snapdeal, said.

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