Swiggy partners Indifi Technologies to provide loans to restaurants

CIOL Writers
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Online food ordering and delivery service Swiggy has partnered with lender Indifi Technologies to provide working capital loans to its restaurant partners.


Under the partnership, the duo have launched a new programme- Swiggy Capital Assist, that will provide unsecured loans to restaurants listed on the platform. “Through Swiggy Capital Assist, we want to leverage our credibility to provide fair and hassle-free financing options to our restaurant partners, much like our seamless delivery service.” said Sriharsha Majety, CEO, Swiggy.

“With this program, our objective is to enable small and medium scale restaurants to get quick access to capital, expand their presence, and continue on their journey to greater success,” he added.

The financing program will provide collateral-free loans without initial deposits that will be processed in under 24 hours and disbursed within a week.

"Indifi's partnership with Swiggy creates a seamless financing platform for restaurant owners, as well as the data infrastructure to enable strong credit quality for lenders," said Siddharth Mahanot, COO, Indifi.

All restaurant partners on Swiggy are eligible for this programme. It was piloted in mid-September and Swiggy claims to have already received more than 200 applications from restaurants in all cities it is operational in, including Delhi-NCR, Mumbai, Bangalore, Hyderabad, Kolkata, Pune and Chennai.