Tiger Logistics to enable SME, MSME export financing with OneNDF
This agreement will help Tiger Logistics scale its exports solutions in sea & air cargo.
Tiger Logistics (India) 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% of India’s exports. Tiger Logistics which launched FreightJar in April 2023, will integrate it with the platform to help apply for ‘Cargo Value Finance’ at the booking & quotation stage, furthered by matchmaking provided by the debt capital enabler, OneNDF.
“SME & MSME Exports is 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 (India) Ltd said.
The collateral-free Cargo Value Financing solution will enable 90% of 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. We understand how timely access to capital could act as a catalyst for an enterprise's growth. This collaboration is going to enhance the value our customers derive, giving them a one-stop solution ranging from their logistical to debt financing needs.”