Digital venture Arzooo launches credit solution for small retailer partners
Arzooo Credit will provide a working capital cushion to Arzooo’s partner stores.
Bengaluru: Digital venture Arzooo.com has launched a digital credit product for online retailers called ‘Arzooo Credit’, which will provide a working capital cushion to Arzooo’s partner stores.
With Arzooo Credit, retailers can avail Rs 1 lakh to Rs 10 lakh credit easily through a paperless platform. Quick access to credit is especially helpful at a time when the retail sector is trying to get back on its feet after months of halt.
“Credit is integral to retail. Arzooo Credit is a significant step forward in creating working capital headroom that will help store owners conduct their business seamlessly,” Arzooo CEO and Co-founder Khushnud Khan, said, announcing Arzooo Credit.
At present, Arzooo Credit is available to over 5,000 retailers across 10 cities.
A digital lending solution, the platform also has a simple touch re-payment option.
Arzooo seeks to empower offline stores to compete effectively with larger e-commerce websites. With the credit service, Arzooo aims to solve the immediate working capital needs of offline retailers, which is hard to meet during a slump or seasonal spikes.
A statement from the company said Arzooo also helps its partner electronics retail stores address their persistent problem of inventory selection, pricing, and sourcing supply chain.