UdaanCapital disburses Rs 170 cr to Saint Gobain’s distribution network

February 14, 2024 Latest Updates0

UdaanCapital, a leading fintech player, said that it has facilitated disbursals of over Rs 170 crore of working capital to the distribution network of Saint-Gobain Glass Business, a subsidiary of Saint-Gobain, one of the world’s premier glass manufacturers.

UdaanCapital disburses Rs 170 cr to Saint Gobain's distribution network

The disbursals were enabled through a partnership with Saint-Gobain for their distributors and retailers. Over 200 distributors of Saint-Gobain have been successfully onboarded by UdaanCapital over 20 months, spanning 122 cities and 23 states across India.

“We believe in forging strong partnerships to advance our goal of building next-generation working capital products for India’s trade,” said Chaitanya Adapa, Head of UdaanCapital.

Post-COVID, brands have been keen to explore solutions that boost the liquidity in their Micro, Small, and Medium Enterprise (MSME) buyer base. This is done without building up receivables on their books or taking excessive credit exposure. UdaanCapital’s customized solution plays a key role in reducing Saint-Gobain’s days sales outstanding (DSO), providing buyers with an extended credit period.

“So far, our distributors across over 100 cities have been successfully onboarded to get collateral-free loans, access inventory, and sell products without upfront payment,” said Anand Santhanam, Chief Sales and Marketing Officer, Saint-Gobain India Glass Business.

Source: www.business-standard.com