BANGALORE : India’s leading Revenue Based Financing platform, Klub, announced its partnership with Shiprocket, India’s leading e-commerce enablement platform. Through this partnership, merchants on the Shiprocket platform will get access to a cohort of capital products that Klub offers which can go up to INR 30 crores for a tenure of up to 24 months for brands across every stage of growth, according to a company release.
Shiprocket is one of India’s largest tech-enabled logistics and shipping platforms that aims to democratise the eCommerce sellers of the country. Since Shiprocket’s inception in 2017, it has enabled sellers to reach more than 24000 pin codes across India, and empowered them to ship to their consumers through the length and breadth of the country, with both cash-on-delivery as well prepaid shipping facilities. The e-tailers can manage their orders and day-to-day operations, RTO, data prediction, NDR, optimised shipping, tracking, and much more from a single platform. Recently, Shiprocket became the first inter-city logistics provider to join the ONDC network. This enables sellers to select delivery partners to ship products across India, said the release.
Commenting on the partnership, Vishesh Khurana, Co-Founder at Shiprocket, said, “Shiprocket’s mission is to empower and help small and medium scale enterprises of real Bharat so that they can grow their businesses and flourish without any hassle. Our collaboration with Klub will further enhance our vision to help SMEs and MSMEs merchants and will support our new & existing seller base with flexible working capital which will not only help them with funds and customised financial options but will also increase their reliability and trust in the brand as a one-stop solution for all their operational needs.”
Klub’s full-stack embedded capital platform offers capital starting from Rs 5 lakhs up to Rs 30 crores to digital merchants. The platform has served 300+ brands through 700+ investments enabling them to have single-click access to credit, customer retention, increase their GMV, and unlock additional revenues from value-added capital products.
Sudharsan Venkatakrishnan, Vice President, Klub, said, “Our mission at Klub is to provide effortless funding to India’s loved brands. With Shiprocket and Klub working in tandem, our platform aims to disburse INR 50 crores to Shiprocket merchants in the next 3 months. We are excited to add another marquee partnership cementing our position as the largest embedded platform for digital merchants.”
Shiprocket is India’s largest eCommerce enablement platform providing digital retailers an end-to-end customer experience platform. The platform creating an operating system for direct commerce enables shipping, fulfilment, customer communication and marketing tools as well as providers for SMEs, D2C retailers, and social commerce retailers in India. With 17+ courier partners on board, the brand permits pan-India as well as international shipping deliveries. Its shipping solutions are available across 24,000+ pin codes within India and 220 countries worldwide.
Launched in 2017, Shiprocket is on a mission to create a seamless logistics data platform that connects retailers, carriers, and consumers across national and international locations. Shiprocket provides a technology stack to help retailers integrate their shopping websites on Shopify, Magento, WooCommerce, Zoho, and others with the platform’s multi-carrier API to manage orders, prints, and shipping labels. It also avails tracking information from multiple providers including managing Cash on Delivery (COD) orders and payment reconciliation. Shiprocket also offers state-of-the-art fulfilment solutions with more than 45 warehouses located across India. The technology stack provides a robust post-purchase experience to consumers resulting in higher engagement and lower RTO (failed deliveries).
Today, Shiprocket is the platform behind more than 2.5L sellers who generate a GMV of more than $2.5B annually. The platform delivers packets to more than 70M consumers annually and is growing transactions 2.5-3X year on year.
Klub, India’s leading Revenue Based Financing platform, provides flexible funding up to Rs. 30 crores to digital businesses and SMEs with recurring revenue. The company partners with leading NBFCs, HNIs, financial institutions, and its own SEBI registered fund to provide growth capital. Klub offers different capital structures for businesses across all stages (early, growth & late) for recurring marketing, inventory, and capex expenses. The company has deployed more than 600 investment rounds enabling growth for 300+ brands across India. Klub raised $20 million in seed funding from Sequoia Capital India’s growth program Surge, US-based Alter Global, Japan-based GMO VenturePartners, and 9Unicorns in 2021. For more information, visit www.klubworks.com