Srinagar, Feb 12: udaanCapital, one of India's leading fintech players, today announced that it has facilitated disbursals of over Rs 170 crore of working capital to the distribution network of Saint-Gobain Glass Business, a subsidiary of Saint-Gobain, one of the world’s premier glass manufacturers.
A statement said that the disbursals were enabled through a partnership with Saint-Gobain for their distributors and retailers via udaanCapital’s Channel Financing program for Micro, Small, and Medium enterprises (MSMEs). As part of this collaboration, approximately 200+ distributors of Saint-Gobain have been successfully onboarded by udaanCapital over 20 months, spanning 122 cities and 23 states across India.
Anand Santhanam, Chief Sales and Marketing Officer, Saint-Gobain India Glass Business, said, “At Saint-Gobain, we believe in true partnership with our customers. One of the best demonstrations of partnership is business growth. Channel Financing and thereby effective working capital management is integral to the business growth of our partners and we believe that our partnership with udaanCapital will foster an environment that nurtures distributors while facilitating the smooth flow of goods throughout the distribution chain. udaanCapital was our preferred partner because they are known for their quick disbursal, fast turnaround time & low default rate. So far, our distributors across 100+ cities have been successfully onboarded to enjoy collateral-free loans, access inventory and sell products without upfront payment."
Chaitanya Adapa, Head, udaanCapital said, "At udaanCapital, we believe in forging strong partnerships to advance our goal of building next-gen working capital products for India’s trade. Our Saint-Gobain program is a testimony of how we’d want our ideal brand partnerships to look like – thanks to the clarity and commitment that the Saint-Gobain team had in supporting their channel partners. We are very glad to have partnered with them in that journey & are committed to deepening our engagement.”