New Delhi, December 6, 2023 – In a groundbreaking move set to redefine the Indian eCommerce sector, Shiprocket, a front-runner in eCommerce enablement, has announced the launch of Shiprocket Capital. This ambitious initiative pledges to infuse a staggering INR 100 crores into Small and Medium Businesses (SMBs) over the next 12 months, marking a significant milestone in the democratization of funding access for Indian eCommerce entities.
Shiprocket Capital emerges as a beacon of hope for SMBs, offering a streamlined, collateral-free, and liability-free financing solution. This initiative aligns perfectly with Shiprocket’s vision of simplifying business operations for Indian merchants. Having already facilitated over INR 35 crores to 150 SMBs in its pilot phase, Shiprocket Capital is poised to revolutionize the way emerging eCommerce businesses perceive and access growth capital.
India’s eCommerce landscape, housing over 500,000 businesses as per the Indian Brand Equity Foundation (IBEF), has long grappled with the constraints of conventional financing methods. Shiprocket Capital, by introducing an efficient, revenue-based financing model, is set to catalyze startup growth by an estimated 30%.
The platform’s reach extends to over 3 lakh merchants, boasting a Gross Merchandise Value (GMV) exceeding 30,000 crores. These merchants now have the opportunity to secure up to INR 10 Crores in revenue-based financing, a game-changer in the realm of business scalability.
To ensure a frictionless capital flow, Shiprocket has joined forces with leading Non-Banking Financial Companies (NBFCs) such as InCred, Indifi, Klub, Stride, Vedfin, Velocity, and GetVantage. This collaboration underscores Shiprocket’s commitment to providing swift, hassle-free fund disbursement, achievable within just two days of document submission.
Saahil Goel, Co-founder and CEO of Shiprocket, shared his vision, “India is on track to build a thriving ecosystem of 1 million eCommerce businesses by 2025. As an eCommerce enablement platform, we aim to empower them with flexible capital to grow their businesses and prove to be their partner in growth through Shiprocket Capital. We understand the unique challenges faced by entrepreneurs in today’s competitive landscape, and our goal is to empower them with accessible and rapid financing which is available at a click of a button. Shiprocket Capital is tailored for eCommerce and we are offering a solution that enables eCommerce innovators to fuel their growth without compromising on their vision or equity.”
Shiprocket Capital’s reach spans a diverse array of eCommerce sectors, including fashion, consumer electronics, beauty and personal care, home and kitchen, and jewellery and accessories. Over 100 emerging eCommerce brands have already leveraged Shiprocket Capital to expand their customer base and scale operations.
Launched in 2017, Shiprocket is India’s premier eCommerce enablement platform, dedicated to scaling Indian businesses by unlocking the full potential of eCommerce. The platform supports sellers throughout their eCommerce journey, providing an integrated operating system for direct commerce. Shiprocket’s suite of tech integrations includes shipping, fulfilment, customer communication, marketing tools, and more, catering to SMEs, D2C retailers, and social commerce retailers in India.
Shiprocket’s mission extends to creating a seamless logistics data platform that bridges retailers, carriers, and consumers both nationally and internationally. Its technology stack enables retailers to integrate their shopping websites with a multi-carrier API for efficient order management, shipping label printing, and tracking across multiple providers. Additionally, Shiprocket offers advanced fulfilment solutions with over 45 warehouses across India, enhancing the post-purchase consumer experience and reducing failed deliveries. With partnerships with 25+ courier partners, Shiprocket facilitates shipping across 24,000+ Indian pin codes and over 220 countries and territories globally.