Rupifi, Retailio Deal expands Pharma BNPL
Indian lender FinTech Rupifi has partnered with Retailio to provide credit to its pharmaceutical retailers, the company said Thursday (September 16).
Founded in 2020, Rupifi offers flexible buy now, pay later (BNPL) loans to SMEs in B2B markets, currently working with partners in sectors such as fast moving consumer goods, food, pharmaceuticals, fashion, electronics, agriculture and general merchandise.
Easy access to cash has been a major challenge for small essentials category retailers during the pandemic, particularly affecting those in the pharmaceutical and healthcare industries. Rupifi aims to ensure that SME retailers in metros as well as in level 1/2/3 cities have access to digital and real-time credit via its BNPL offer.
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Ankit singh, co-founder of Rupifi, said FinTech, established a year ago, has since “created one of the most robust BNPL PME products in the industry”, offering it to thousands of SMEs through of its partners.
The partnership with Retailio, India’s largest B2B healthcare marketplace, is a huge boost for the lending company’s business. Retailio operates in over 100 cities with an extensive network that includes over 1,000 healthcare / pharma companies and over 3,000 pharmaceutical distributors.
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“With Retailio, we aim to help small and medium-sized pharmaceutical companies obtain easy credit for their short-term purchases from distributors in the Retailio network,” Singh said. “We are committed to supporting them with our multi-lender platform, which helps us offer the best rates, maximum coverage and a standardized experience. “
Retailio FinTech Manager Rohit Anand added that the company continuously seeks to provide its ecosystem partners with the tools and services necessary to fuel growth, noting that the partnership with Rupifi will deploy “innovative solutions and structures for our partners”, notably by helping SME retailers to obtain up to 45 days of instant credit for their purchases.