, India's top online channel management and sales acceleration agency recently announced its entry into financial services. Upriver will now offer business loans ranging from Rs. 5 lacs to Rs. 15 Cr, to e-commerce merchants. An entire bouquet of short to medium term loan offerings including secured and unsecured loans will be made available to sellers, to address their growth and working capital issues.
The news was shared by Upriver's Co-founder and CEO, Baqar Iftikhar Naqvi, who is also an accomplished member of the retail industry. He said, "Since our inception, our mission has been to accelerate the e-commerce ecosystem and work with our brand partners' to enhance their revenue and profitability, and to assist them achieve a significantly large scale across India and global markets. Besides demand creation, which we have been successfully doing till date, fulfilment capabilities and being able to cater to the demand created is the most important aspect of growth and that needs financial backing. This is where we decided to add financial services to our portfolio. We communicate with our customers frequently so that we can understand their growth related requirements and create services that are tailored to their needs."
Cross-border trade and global expansion via alliances will be some of the main goals for the upcoming year. Upriver has previously made public its collaborations in Europe with Curamando AB, a Stockholm, Sweden-based company, and V-Chitra, a Kathmandu-based company. Additionally, Upriver maintains a sales presence in the USA and is actively attracting new customers from both USA and Canada. As the business expands, it hopes to establish itself as the most dependable and client-focused one-stop shop for businesses looking to increase sales and improve profitability through online channels.
"The nature of financial services is intangible and brand image is crucial in a highly competitive global environment. Financial institutions that offer financial products and services may not be successful unless they have a positive reputation and enjoy the trust of their customers. Our customer base is proof of our good reputation," said Mohit Jain, Co-founder, and COO of the company.
"Since the launch of the service in September'22, the company has already seen a very good response and loan disbursement has already started." said Rahul Bansal, Head of Financial Services at Upriver.
The company recently passed the landmark of having 100 active brand partners as its clients, demonstrating its success in generating brand revenue and profitability in Indian and international marketplaces as well as through D2C. The company offers services that are specifically catered to the needs of its clients, from strategy creation to implementation, and provides full ownership and control of online channels through the use of data analytics and cutting-edge AI solutions.
provides end-to-end strategy, operations, and marketing support, helps brands start and expand online businesses, and increases their profitability, among other things. Upriver uses cutting-edge technology, data-driven insights, and a highly skilled team to provide industry-leading results for sellers on marketplaces as well as D2C.
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( With inputs from ANI )
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