Food ordering and delivery platform Swiggy has today said it has joined hands with fintech firm Indifi Technologies to launch ‘Swiggy Capital Assist’ programme for providing quick access to financing options to its restaurant partners.
As a part of this programme, it will provide the company’s restaurant partners seamless access to additional working capital to help them grow and expand their business, said the company in a statement.
Indifi will complete credit evaluation of all the restaurant partners on the food-tech startup’s platform in less than 24 hours of document submission and the entire loan disbursal in a week.
Swiggy’s CEO Sriharsha Majety said:
Through Swiggy Capital Assist, we want to leverage our credibility to provide fair and hassle-free financing options to our restaurant partners. 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.
Siddharth Mahanot, COO of Indifi Technologies said:
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.
With such programme, Swiggy is trying to enable small and medium scale restaurants to get quick access to capital, expand their presence, and continue on their journey to greater success.
The startup is also in the process of launching ‘cloud kitchens’ which allow restaurant partners to lease kitchen spaces in areas they don’t deliver food. It claims to have more than 18,000 restaurant partners across eight cities.