Over 8,000 restaurants have availed of loans so far; 3,000 in the last year alone
Bangalore, 3 October 2023: Swiggy, India’s leading on-demand convenience delivery platform today, announced that it has facilitated disbursal of over 450 crores as part of its capital assist program. Swiggy’s Capital Assist Program which was launched in 2017 is a first-in-the-segment solution designed 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.
Having enough working capital is vital for a restaurant’s success. Swiggy’s Capital Assist program is tailored to meet the unique financial needs of restaurant owners by collaborating with lending partners such as Indifi, Incred, FT Cash, PayU & 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.”
Through Swiggy Capital Assist, financial institutions have been able to offer several advantages that set it apart from traditional industry offerings. From quick sign-ups to even quicker approvals, through Capital Assist program, the NBFCs take a fast, easy, and efficient approach to provide funds for our restaurant partner’s business needs. Restaurant owners can easily apply via Swiggy’s Owner App by clicking on “Get Loans”. If you can’t find it, don’t worry – we’ll get in touch with you.
Since its inception in 2017, more than 8,000 restaurants have availed loans through this program, with Swiggy facilitating disbursal of loans over Rs. 450 Crores.
Aarti & Sumit Rastogi, Owners of ARTINCI – Indulge Guilt Free!, Bengaluru
“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
“In our initial years we lacked financial support & access to capital was a major hurdle. By clicking on 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
“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.”