E-commerce companies across a variety of industries, such as fashion, consumer electronics, beauty and personal care, home and kitchen, jewelry and accessories, will be served by Shiprocket Capital.
Shiprocket, an e-commerce logistics and shipping software startup, announced on Tuesday that Shiprocket Capital will provide small and medium-sized businesses (SMBs) operating online with revenue-based funding up to Rs 10 crore. The organization stated that in the upcoming year (December 2024), it hopes to make approximately Rs 100 crore in funding available to SMBs. The money will be available to businesses without any equity dilution and without any collateral to help them increase inventory, improve marketing, improve manufacturing, or enter new markets.
According to information , the reimbursement consists of a one-time fee and a portion of the SMB’s earnings.
E-commerce companies across a variety of industries, such as fashion, consumer electronics, beauty and personal care, home and kitchen, jewelry and accessories, will be served by Shiprocket Capital.
Shiprocket Capital reported that during its trial program, it had given approximately Rs 35 crore to almost 150 SMBs.
“According to a report by IBEF, India is home to over 5 lakh e-commerce businesses, but traditional financing methods have long presented challenges for e-commerce entrepreneurs. Offering a swift and efficient means of accessing much-needed capital, revenue-based financing is increasing the startup growth by up to 30 per cent. Leveraging this potential, Shiprocket Capital presents a big opportunity for the 3 lakh merchants on the platform with a GMV of 30,000+ crores to scale their business,” Shiprocket said in a statement.
Within two days of the SMB’s document submission, the business stated it will distribute money through its partner non-banking financial companies (NBFCs), which include InCred, Indifi, Klub, Stride, Vedfin, Velocity, and GetVantage.
“India is on track to build a thriving ecosystem of 1 million eCommerce businesses by 2025,” stated Saahil Goel, co-founder and CEO of Shiprocket. With Shiprocket funding, our eCommerce enablement platform, we hope to provide them with flexible funding to expand their enterprises and establish ourselves as a growth partner.
Shiprocket was established in 2017 and offers a technological stack to assist retailers in managing orders, prints, and shipping labels by integrating the platform’s multi-carrier API with their e-commerce websites on Shopify, Magento, WooCommerce, Zoho, and other platforms. Additionally, it provides tracking data from several sources, handling Cash on Delivery orders and payment reconciliation.
The business also provides fulfillment choices, finance solutions, influencer marketing, marketing automation, brand-building solutions, and other services.