Revenue Based Financing platform, Klub, announced its partnership with payments and API banking solutions company, Cashree Payments. With this partnership, Klub and Cashfree Payments aim to finance 5,000 merchants through revenue-based financing.
Cashfree Payments offers an advanced payment gateway with features like instant refunds, card pre-authorization, among other products. The brand also provides a bouquet of payment services to vendors, including payment collections, recurring payments, and verification services to banks. Backed by SBI, Y Combinator, Apis Partners, and incubated by PayPal, Cashfree Payments enables 1,00,000+ growing businesses in India and across 8 other countries, including the USA, Canada, and UAE with payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty, and rewards..
Speaking about the partnership, Reeju Datta, Co-Founder, Cashfree Payments, said, “The collaboration will help Cashfree Payments merchants avail flexible financing options to operate in a nimble manner and drive their growth in the dynamic digital environment.”
Klub’s full-stack embedded capital platform offers capital starting from Rs 5 lakhs up to Rs 20 crores to digital SMEs. The RBF player has already partnered with 5 of India’s largest marketplaces across e-commerce, logistics, and payment gateways. Klub is now on the path to providing capital solutions at scale via every platform that supports digital SMEs.
Sudharsan Venkatkrishnan, Vice President, Klub, said, “Our platform will enable instant access to a range of capital products for 5000+ merchants on Cashfree Payments. Our products combine well with those of our partners like Cashfree Payments to accelerate the revenue growth of digital merchants. .”