| Developers: | Wildberries (Wildburries) |
| Date of the premiere of the system: | 2024/03/22 |
| Branches: | Internet Services, Trading, Financial Services, Investments and Auditing |
2024: Merchant Credit Service Zapux
Wildberries on March 22, 2024 launched its own service for lending to sellers. The entire loan process will be completely online. Sellers will be able to apply for a loan directly from their personal account on the platform and, if approved, receive funds within 1 business day.
The opportunity to apply for a loan will open up to platform sellers gradually. By March 2024, 20,000 sellers can apply for a loan, and loans will soon become available to a wider range of sellers.
To issue loans to sellers, Wildberries registered its own microcredit company, which is included in the register of the Bank of Russia. The loan service from Wildberries uses internal statistics to create a model for assessing the reliability of borrowers. The model is formed using artificial intelligence technology and makes it possible to offer favorable conditions and approve more applications for loans.
The launch of a lending service from Wildberries will expand access to borrowed financing for sellers. According to a survey conducted by Wildberries together with a sales think NAFI tank in February-March 2024, 72% of sellers are considering a loan. Basically, sellers use loans to develop their business. More than half of all sellers - 55% - at least once resorted to issuing a loan for the purchase of goods on prepayment, and for infrastructure investments, loans were taken by every third seller - 38%.
The loan can be taken for all the basic needs of sellers on the marketplace: this is replenishing working capital, purchasing a new batch of goods, expanding the business.
Wildberries Credit Terms
- Loan amount: from 100,000 to 20 million rubles.
- Term: 3 to 12 months
- Interest rate: from 1.5% per month, calculated individually based on scoring results
- One-time fee for issuing: from 0 to 2%, depending on scoring results
- Pledge: not required
In the future, the service from Wildberries will provide sellers with a constant credit limit calculated based on sales volumes. All sellers with a pre-approved limit will be able to see in their personal account how much credit funds are available to them.
Application and loan will take place completely online. Thanks to fintech solutions from Wildberries and the integration of the lending service with the platform's IT systems, sellers will be able to apply for a loan in a few simple steps. Sellers will need to provide a minimum of documents in electronic form, among them: photo passports for individual entrepreneurs and scans of statutory documents for LLC. The contract will be signed online using UKEP, which the vast majority of sellers have. The loan repayment process will also be automated.
The payment of the loan in accordance with the repayment schedule will be automatically transferred from the seller's balance sheet to the credit service. The seller does not need to independently transfer money, it is only necessary to ensure a sufficient amount of money on the balance sheet.
Legal entities and individual entrepreneurs who have been doing business at Wildberries for at least six months will be able to apply for a loan.
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