This article was published 10 yearsago

Snapdeal has been on an acquisition spree for past few months, as it aims to diversify its standing from being just an online marketplace to a multi-purpose online transaction platform. The latest addition to that acquisition spree, is loans and credit provider Rupee Power, wherein Snapdeal has acquired a majority stake.

While the financials involved haven’t been disclosed, Snapdeal is saying that it is aiming to launch a financial services marketplace soon aims to provide over $1 Billion in loans in the next two users, through its new platform. The company is loking to partner with financial and lending institutes for the same, to provide them with a wider reach through its online platform.

Rupee Power has a unique algorithm in place to provide its customers with in-principle loan approvals, within just 15 minutes of applying. As a customer, you can instantly compare personalized loan / card offers from over 15 lenders (Banks, NBFCs and HFCs), apply online and also get an instant in-principle approval. The company has tied up with tied up with leading financial institutions and implemented their product offers, rules, criteria & processes to provide customers the best financial options every time they visit RupeePower.com

Online financial services has been a big buzz among online indian companies for quite some time now. And it has all the reasons to be in focus. While a few Indian startups are trying to make online financial services easy for consumers, the market is still pretty much fragmented and the reach, distributed.

With a major e-com player like Snapdeal going full force into online financial services, this could be a real big push to filling of that hole in India’s surging e-com market.

As for snapdeal, the company is now looking to bolster its presence on all fronts of the e-com pie. The company just recently acquired logistics firm GoJavas to get out of delayed courier product deliveries, and launch its in-house logistics platform.


 

 

 

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