#VocalForLocal: Meesho to provide flexible financial solutions to MSMEs affected by Covid-19 lockdown in partnership with Klub

In the wake of the Covid-19 pandemic, many suppliers who are partnering with Meesho are looking for various financing options to grow their business. And most of these suppliers are Micro, Small and Medium Enterprises (MSMEs), which contribute about 25 per cent towards India’s Gross Domestic Product (GDP).

Hence, the recovery of MSMEs during these troubled times could positively impact the country’s economy. Meesho is hoping to achieve exactly that by tying up with fintech startup Klub to provide financing options for MSMEs.

The partnership, known as #VocalForLocal, aims to finance MSMEs that are signed on the Meesho app by providing them with end-to-end solutions, enabling domestic sourcing, offering flexible financing, and helping the suppliers raise enough capital for the growth of their businesses.

This initiative will hopefully inspire more local entrepreneurs to start up their business.

As Meesho CFO Jatin Malzacar puts it, “Meesho has been at the forefront of championing the cause of small and medium enterprises. We have empowered millions of women in India to start their businesses without any investment,” he says adding, “Raising finance to scale up business has always been a challenge for small and medium enterprises. With this partnership with Klub, we believe we can nurture many local businesses and help them in their growth ambitions.”

In the same vein, Anurakt Jain, Co-founder and CEO of the Singapore-headquartered Klub, notes, “As an embedded financing partner for Meesho, Klub will expand its reach to enable and empower brand building for and in Bharat. Klub’s goal is to enable local brands to reach their growth potential by offering flexible financing solutions.”

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