Swiggy Unveils Rs. 450 Crores In Capital Assistance For Restaurant Owners
Over 8,000 restaurants have availed loans so far, of which 3000 availed loans in 2022 alone
Swiggy has facilitated the disbursal of over Rs. 450 crores as part of its capital assist program. The program was launched in 2017 to bridge the financing gap and empower restaurant owners. Over 8,000 restaurants have availed loans so far, of which 3000 availed loans in 2022 alone.
Swiggy’s Capital Assist program meets the financial needs of restaurant owners by collaborating with lending partners such as Indifi, Incred, FT Cash, PayU Finance & IIFL. The program offers a range of financial products, including term loans and credit lines.
Swapnil Bajpai, VP - Supply, Swiggy, stated, "Swiggy is constantly looking at innovative ways to help our restaurant partners succeed. The NBFCs will soon facilitate more exciting solutions like pre-approved loans to enable our partners to gain easier and quicker access to capital, driving even more growth for their businesses."
From quick sign-ups to even quicker approvals, through the Capital Assist program, the NBFCs take a fast, easy, and efficient approach to provide funds for our restaurant partner’s business needs.
Aarti & Sumit Rastogi, Owners of ARTINCI - Indulge Guilt Free!, Bengaluru said, “Swiggy's enabling solutions to link and bring together financial institutions to restaurants like us have always been like our knight in shining armour. Always there and readily available when we have needed funds most, with the highest approval limits too. We have done three rounds of financing so far and have used these funds for our working capital requirements. The entire process from the application to receiving funds is incredibly quick, efficient, and transparent.”
Narendra Yendru, Owner of 100N, Hyderabad said, “In our initial years we lacked financial support & access to capital was a major hurdle. By clicking on the Get Loans link, we are connected to several NBFCs, and due to the ease of lending solutions offered by them, we could build our operations better and expand to new locations. These are the kinds of initiatives that are win-win for both the financier and the entrepreneur. I thank this initiative for its invaluable support in our success!”
Animesh Lodha, Owner of CHEELIZZA - India Ka Pizza, Mumbai said, “It’s been more than 5 years now that we have been fueling both our working capital as well as capex requirements via Swiggy Capital Assist. The ease of loans created through this program has been instrumental in the growth we have achieved over the last 3 years. The process is super-fast, effective, and completely digital. The NBFCs we have worked with have been very helpful in sanctioning top-ups based on growing revenues with Swiggy.”
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