Tiger Logistics (India) Ltd, a global logistics company listed on the BSE, has entered into an agreement with OneNDF, an online marketplace for business debt loans. The collaboration aims to provide “Cargo Value Finance” and seamlessly integrate this solution with their digital freight booking and management platform, FreightJar. The primary goal is to enhance cash flow access for SME & MSME Exporters. By catering to the SME & MSME sectors, which account for more than 40% of India’s exports, Tiger Logistics intends to expand its export solutions in both sea and air cargo.
FreightJar, launched by Tiger Logistics in April 2023, will be integrated with the platform to enable the application for “Cargo Value Finance” during the booking and quotation stage. OneNDF, as the debt capital enabler, will facilitate the matching process. This initiative is crucial for the economy, as it bridges the gap and grants access to short-term funding, allowing Tiger Logistics to scale in the SME & MSME segment. Harpreet Singh Malhotra, Chairman & Managing Director of Tiger Logistics (India) Ltd expressed how this partnership with OneNDF will empower their SME & MSME customers, providing them with seamless access to working capital without the need for collateral.
The proposed “Cargo Value Financing” solution will allow up to 90% of the export invoice value to be financed within 48 hours. This will liberate SMEs & MSMEs from capital constraints and reduce dependency on buyers. Additionally, the solution will offer multiple lender options, ensuring SME & MSME exporters can secure capital at highly favorable and low-interest rates.
Nitin Khandelwal, CEO & Co-founder of OneNDF acknowledged and appreciated Tiger Logistics’ groundbreaking efforts in streamlining logistics processes. He emphasized the significance of timely access to capital as a catalyst for enterprise growth. This collaboration will add value to their customers, providing them with a one-stop solution that covers both logistical and debt financing needs.