Fintech Platform Cash Suvidha Partners With Rural eCommerce Startup StoreKing

Fintech Platform Cash Suvidha Partners With Rural eCommerce Startup StoreKing

Fintech Platform, Cash Suvidha, Rural eCommerce Startup, StoreKing, AI Fintech Platform, Malaysia Axiata Digital, Funding Rural India, Small Business Loan, Loan for SME, Entrepreneur Loan, Startup Loan Best ROI

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Fintech platform, Cash Suvidha running under Usha Financial services, has announcement its partnership with StoreKing, a rural digitalization and commerce optimization platform that links rural India with technology.

This partnership will extend financing hands and lending services to retailers in rural part of India who are deprived of all such facilities.

Fintech Platform Cash Suvidha Partners With Rural eCommerce Startup StoreKing
Fintech Platform Cash Suvidha Partners With Rural eCommerce Startup StoreKing

Cash Suvidha is planning to extend loans worth Rs 30-40 crore to over 2500 retailers per year.

On one hand Cash Suvidha has a strong presence in North India, empowering more than 32,000 SMEs by providing variety of loans in Delhi NCR, Banglore, Pune, Hyderabad, Mumbai and Rajasthan. On the other hand, StoreKing with its strong network of 47,000 stores across 10 states has been enabling retailers to sell more products and services to the walk-in customers.

Through this strategic partnership, Cash Suvidha would be able to tap into new markets and geographies such as the rural parts of Gujarat, Karnataka and Tamil Nadu.

StoreKing was founded in 2012 by Sridhar Gundaiah and Govardhan Krishnappa, a technology-based distribution platform, connecting small towns and villages across the country to a range of products and services, all via an app. It raised $16 million from Malaysia’s Axiata Digital in 2016.
While the Cash Suvidha was founded in 2016 by Rajesh Gupta, Anoop Garg, and Geeta Goswami which raised $1 million in a seed round led by Vipin Aggarwal.

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