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eBay India Partners Capital Float to Finance Sellers

eBay India Partners Capital Float to Finance Sellers 6w3s22

By NDTV Correspondent | Updated: 13 August 2015 11:31 IST

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Online marketplace eBay has partnered Capital Float, a digital financing platform, to provide finance to e-commerce sellers across the country in under three days.

Together with Capital Float, eBay hopes to provide its seller-partners with that much needed shot of capital to help them win in a highly competitive market, the companies said in a statement on Wednesday. 3w4t5q

Sellers from across the country can avail collateral-free finance from Capital Float ranging from Rs. 1,00,000 to Rs. 1 crores at industry-competing interest rates.

"eBay India has been at the forefront of creating tools that have enabled business growth for its sellers, irrespective of their size... Our association with Capital Float is an effort to our sellers by providing them financial assistance and help them ship more," eBay India Director Seller Service and Technology Category Pankay Ukey said.

Sashank Rishyasringa, co-founder of Capital Float, said: "It has been only a few days since our alliance with eBay was formalised and we have already disbursed loans of close to Rs. 10 crores to sellers on eBay".

Other e-commerce players like Paytm have also forged similar partnerships to enable SMEs procure loans in a hassle-free manner.

Following PayPal's improved Buyer Protection for Indian s, now extended to intangible items for international transactions. The extended buyer protection will help mitigate the fear of uncertain delivery or 'Lost-O-Phobia', the top fear in the minds of Indian consumers, PayPal said.

Written with inputs from PTI

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