Tata Capital has entered into a tie-up with Snapdeal under its capital assist programme to finance up to Rs 2 crore Snapdeal’s sellers and online merchants.

“Under the arrangement, Tata Capital will provide unsecured loans in the range of Rs 5 lakh to Rs 2 crore to meet the working capital needs of Snapdeal’s sellers at competitive rates and with flexible tenures,” Tata Capital said in a statement.

E-commerce firm Snapdeal caters to various categories and products through 1.5 lakh connected sellers from over 5,000 locations across the country.

Tata Capital, the financial services arm of the Tata Group, caters to the diverse financial needs of retail and corporate consumers. Tata Capital’s Supply Chain Finance is one of its key product offerings with a book size of over Rs 5,000 crore, the non-banking financial company said.

Ratan Tata, Chairman Emeritus of Tata Sons (the holding company of Tata Group), has also made a personal investment in Snapdeal.

Pradeep Bandivadekar, COO – Corporate Finance Division, Tata Capital, said, “Tata Capital aims to be truly customer-centric by customising our products and providing superior digital services to our customers. The partnership with Snapdeal is a step in this direction. We recognise that e-commerce has tremendous potential and are pleased to partner with one of the largest names in the space”.

Vijay Ajmera, Senior Vice-President, Snapdeal added, “...Partnerships like this will help us achieve our goal of creating 1 million successful online entrepreneurs within the next three years.”