Vakrangee Ltd., India’s largest network of last-mile retail points of sale, today announced its partnership with Lendingkart Finance Ltd., for offering distribution of business loan through its Nextgen Vakrangee Kendras.
These Nextgen Vakrangee Kendras exclusively offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-Commerce, e-Governance and logistics. With 68% of its Nextgen outlets in Tier-5 and 6 towns, Vakrangee will make available quick collateral-free business loans with minimal documentation and attractive interest rates to its customers in the most remote and hitherto unserved/underserved parts of the country.
Commenting on this partnership, Mr. Anil Khanna, Managing Director & Group CEO, Vakrangee Ltd. said, “We are happy to partner with Lendingkart Finance to help our customers avail collateral free business loans online in remote areas. With this partnership, we continue to expand the bouquet of services available at our exclusive Nextgen Vakrangee Kendras making them into one stop shop for all the requirements of our customers.”
He added, “We will continue to add products and services and tie-up with leading business partners to offer our customers a comprehensive solution to all their banking, insurance, ATM, Financial Services, assisted e-Commerce, e-Governance and logistics, all at their doorstep. Vakrangee provides these business partners with the unmatched reach in remote areas where these brands find the cost of operations too high.”
Lendingkart Finance offers convenient working capital and business loans to SMEs across India in a completely online, quick process with minimum documents and no collateral needed. The objective of the company is to make capital funds available at fingertips so that entrepreneurs can focus on business instead of worrying about gaps in their cash-flows. Lendingkart Finance uses technology and analytics tools, analysing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately.
Vakrangee currently has 3,504 Nextgen Vakrangee Kendra’s spread across 19 states, 366 districts and 2,186 postal codes. More than 68% outlets are from Tier 5 and tier 6 cities. Vakrangee’s planned target is to reach at least 25,000 operational Nextgen Vakrangee Kendras by FY 2019-20 and further enhance it to reach 45,000 Nextgen outlets by FY 2020-21 and 75,000 by FY2021-22.
The Company has tied up with reputed partners spread across Banking, ATM, Insurance, Financial services, e-Commerce, e-Governance and Logistics verticals to offer its customers best-in-class services and products.
