Capital Float, the pioneer of digital lending in India has launched a new program specifically targeted at women trepreneurs across India, in a bid to encourage and drive the women entrepreneurship initiatives across India. The program is currently active and is scheduled to run from 8thof March to the 31st of March.
As a part of this initiative, woman entrepreneurs can apply for collateral-free working capital with zero processing fees, with an extremely short turn around time of two days for loan approval.The interest rate for borrowing across their products has also been slashed to 16%.
Gaurav Hinduja, Co-founder, Capital Float said, “This initiative by Capital Float is an effort to encourage woman entrepreneurs to leapfrog to new ways of funding ideas and add its bit to enabling India to transform into a woman friendly business environment.”
According to a recent NASSCOM study issued last year, only nine percent of India's 4,200+ start-ups have been founded by women. A 50 percent jump over the number of women entrepreneurs was recorded in comparison to the year before.In a time where SMEs are being hailed as the future of India, it is essential to bridge the gap in the market with innovative and flexible offerings. Capital Float aims to provide alternate solutions to the financial qualms of the SME and startup sector by offering access to credit and collateral-free working capital.
Sashank Rishyasringa, Co-founder, Capital Float added “At Capital Float, we are continuously working on improving our methods of delivering fast, flexible, and hassle-free loans that enable entrepreneurs and SMEs in India to gain easier access to capital. Through this initiative, we are confident that we will be able to effectively solve the need for capital of women entrepreneurs in India.”
About Capital Float
Capital Float (CF) is India’s leading digital financing platform that provides quick and easy capital to help businesses fund rapid growth and achieve their next milestone.
Founded in 2013, Capital Float is the trade name for Zen Lefin Private Limited a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India. It is a dominant player in the e-commerce lending space that includes partnerships with Snapdeal,Alibaba, ShopClues, eBay, Myntra, PayTM, Fashion and You, and Zovi.
Earlier this year, Capital Float raised Series A funding from Sequoia Capital, SAIF Partners and Aspada bringing in capital of US $13mn. The company is headquartered in Bangalore with offices in Delhi, Chennai and Mumbai. For more information: www.capitalfloat.com