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    Amazon launches lending platform for sellers

    Synopsis

    India will be the first geography for Amazon where it has launched such a seller marketplace prgramme.

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    India will be the first geography for Amazon where it has launched such a seller marketplace prgramme.
    BENGALURU: Amazon India has launched a platform for lenders and sellers wherein sellers can choose from competitive rates and loan offers. It will also open its APIs to lenders to plug in and lend to the sellers as part of the new programme, called the seller lending network.

    India will be the first geography for Amazon where it has launched such a seller platform. In the US, Amazon lends on its own books.
    Amazon India currently has six lenders on the platform - Capital First, Capital Float, Bank of Baroda, Aditya Birla Finance and Yes Bank.

    While the sellers will get access to this platform through their current seller portal on Amazon, the ecommerce company is also creating a separate lending platform for its lenders, to be called Lender Central, to share seller information and performance updates on a real-time basis.
    While Amazon had started its seller lending program in 2016, it only offered one specific loan to a seller from a lender.

    Gopal Pillai, director of seller services for Amazon India, said the lending program has grown 4.5 times since its launch and 150% in the first five months of this year.

    Amazon India's seller base has also grown to over three lakh sellers.

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