Saint Gobain arm gets Rs 170 cr fintech boost
The company said in a statement “it has facilitated disbursals of over Rs 170 crore of working capital to the distribution network of Saint Gobain Glass Business.”
IANS
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NEW DELHI: Fintech platform udaanCaptial on Monday said it has facilitated disbursal of over Rs 170 crore working capital to the distribution network of Saint Gobain, via its channel financing programme for MSMEs.
Saint Gobain, a global glass manufacturer, partnered with udaanCapital about two years ago to facilitate its subsidiary, Saint Gobain Glass Business, aiming to leverage their existing cash discount structures for MSME buyers.
The company said in a statement “it has facilitated disbursals of over Rs 170 crore of working capital to the distribution network of Saint Gobain Glass Business.”
The disbursals were enabled through udaanCapital’s channel financing programme for MSMEs (Micro, Small, and Medium Enterprises).
As part of the collaboration, approximately 200+ distributors of Saint Gobain have been onboarded by udaanCapital in about 20 months, spanning 122 cities and 23 states, focusing on Tier 2, 3, and 4 towns.
udaanCapital, through its app, helped onboard borrowers and ease invoice payments, boosting cash flow management and sales.
Chaitanya Adapa, head, udaanCapital said, “The introduction of udaanCapital’s technology-driven behaviour shaping has accelerated sales for Saint Gobain, especially among their trade partners. This collaboration aims to empower MSMEs across India by transforming the landscape of channel financing.”
