Fibe debuts ecommerce financing with Flipkart partnership
Consumer lending platform Fibe has partnered with Flipkart to offer buy-now, pay-later financing on the ecommerce marketplace.Under the arrangement, Fibe's BNPL option is now available at Flipkart's checkout, allowing eligible customers to split purchases of up to Rs 1 lakh into equated monthly instalments with repayment tenures ranging from three to 12 months, the company said on Wednesday.The Flipkart partnership marks Fibe's attempt to carve out a niche in consumer lending for ecommerce, a segment long dominated by banks through credit cards and larger nonbank lenders such as Bajaj Finance. Fibe has previously offered BNPL products across sectors such as healthcare and education, making this its first foray into embeded ecommerce financing.Another NBFC, Axio, was among the earlier fintech-led entrants to scale checkout financing on large ecommerce platforms. Formerly known as Capital Float, the company focused on embedding short-term credit directly at the point of checkout across platforms including Amazon, Decathlon and Xiaomi, rather than distributing loans through a standalone consumer app, which has been Fibe's strategy so far.Axio’s partnership with Amazon culminated in the US ecommerce giant acquiring the Indian buy-now, pay-later lender in a deal valued at between $150 million and $200 million.“This partnership allows us to integrate… Read MoreYourStory RSS Feed
