Travel fintech firm SanKash declared its intent to disburse ₹100 crore within the next 6-9 months at zero per cent interest rate. This move aims to provide a significant financial boost to travel agents, facilitating their business growth.
Utilizing a plug-n-play API platform, SanKash offers a seamless solution, enabling merchants to integrate a "pay later" button at checkout by leveraging a network of consumer financing providers.
Under the newly launched 'A no-cost Working Capital program,' travel agents can access up to ₹50 lakh without the need for collaterals, security, or guarantors. The flexible nature of the program allows agents to allocate the working capital for a range of business requirements, including operational expenses, marketing initiatives, and diversifying service offerings.
SanKash's Co-founder & CEO, Akash Dahiya, emphasized the importance of a robust travel industry built on collaboration, innovation, and the financial stability of its key stakeholders. "We firmly believe that a thriving travel industry is built on cooperation, innovation, and the financial well-being of its key players, and with this initiative, we are excited to take the industry to new heights," Dahiya stated.
The company highlighted that travel agents commonly face high-interest costs, often ranging between 18-24 per cent. According to various industry reports, there exist approximately 3 lakh travel agent businesses catering to a diverse range of services, including travel packages, as well as cab and bus booking companies.
SanKash's recent announcement is expected to significantly alleviate financial burdens for travel agents and fuel further growth within the travel industry.
Also Read: Expanding Horizons: ISRO's Plan For Additional Gaganyaan Vehicle Mission Tests