Tiger Logistics has signed an agreement with OneNDF, an online marketplace for business debt loans to facilitate ‘Cargo Value Finance’, as well as integrate the solution with its digital freight booking and management platform FreightJar to unlock enhanced access to cashflow for SME & MSME Exporters.
This agreement will help Tiger Logistics scale its exports solutions in sea & air cargo and explore its growth potential through deeper market access of the SME & MSME sectors, which contribute to over 40 percent of India’s exports.
“SME & MSME Exports are crucial to the economy, and bridging and bringing access through short-term funding will open-up new opportunities for us to scale in the SME & MSME segment. The association with OneNDF will enable our SME & MSME customers to access working capital seamlessly and without any collateral,” Harpreet Singh Malhotra, Chairman & Managing Director, Tiger Logistics said.
The collateral-free Cargo Value Financing solution will enable 90 percent of the export invoice value to be financed in 48 hrs, liberating SMEs & MSMEs from capital constraints and buyer dependence.
The solution will also be facilitated by a choice of multiple lenders allowing SME & MSME exporters to secure capital at highly favourable and low-interest rates.
Nitin Khandelwal, CEO & Co-founder, OneNDF said “We appreciate the ground-breaking work Tiger Logistics is doing to streamline the processes in an industry as complicated as the logistics sector, which is tantamount to what we pursue in the debt financing sector.”