16th July 2020: Arzooo.com, India’s fastest growing retail-tech venture has announced the launch of its new digital credit lending product, ‘Arzooo Credit’, for offline retailers. The new credit service will provide working capital cushion to Arzooo’s partner stores, especially during the time when the retail is just on its way to recovery from months of halt. With Arzooo Credit, retailers can avail from Rs 1,00,000 to 10,00,000 credit on Arzooo platform. At present, the service is open to over 5000 retailers across 10 cities.
Arzooo Credit is one of its kind digital lending solution that allows retailers access to a fully digital and paperless model to avail credit facility. The platform also enables a simple on touch re-payment option for stores to pay back. With the credit service, Arzooo aims to solve immediate working capital needs for offline retailers, which is difficult to manage during a slump or seasonal spikes.
The B2B retail-tech start-up has disrupted the offline retail space by empowering offline stores to compete effectively with larger e-commerce websites. Arzooo helps its partner electronics retail stores address their persistent problem of inventory selection, pricing, and sourcing supply chain.
Commenting on the announcement, Mr. Khushnud Khan, CEO and Co-founder, Arzooo says, “Credit is integral to retail more so with small and medium retail business, our vision of powering retail with technology necessitates bringing access to seamless credit solutions to retailers which is necessary for them to grow their business. Arzooo Credit is a significant step forward in creating a working capital headroom that will help store owners conduct their business seamlessly.”
To avail the Arzooo Credit facility, a retail store can share his expression of interest digitally in one tap on Arzooo App and within 24 hours, the service will get activated for the store in his Arzooo App account. Thereafter, he can use the credit-lending feature for all his future transactions.
He further adds, “Besides working capital, the idea of Arzooo Credit is to create a hassle-free transaction and a frictionless customer journey on the platform.”
Arzooo Credit is one of the options for making transactions on the Arzooo Go Store. The B2B platform is available on both Android and iOS platforms.
