SME-Focused Fintech Startup GimBooks Partners With RedCarpet

• The Card named ‘GimBooks Card’ will be available for use to all users of the GimBooks mobile app
• The Card comes with an array of exciting features like interest-free credit, Card Swipe to EMI, ATM withdrawal facility and more

Raipur, Chattisgarh-based SME-focused fintech startup GimBooks has announced a strategic partnership with Delhi-based credit-card neobankingstartup RedCarpet,in a bid to help enterprises and business owners get convenient and quick access to credit whenever required. Through this partnership, GimBooks has launched a new ‘credit-on’ card on the GimBooks app named ‘GimBooks Card’ – which is powered by RedCarpet’s technology, and is now made available to all the users of their app. The GimBooks Card is available both in physical and digital versions, and it comes with an array of disruptive features.

The card holders, i.e. users of the GimBooks Card, will be able to avail credit depending on the nature of their business, location, and other parameters. Further, they will be able to avail up to 45 days of interest-free credit period on each month’s spend. This Card has additional features like ‘Card Swipe to EMI’ — that easily converts an entire bill or a specific transaction into EMIs at low-interest rates. The GimBooks Card can be used anywhere, for all types of transactions; it is enabled with an ATM withdrawal facility with minimal charges to facilitate easy cash withdrawals.

Yash Raj Agarwal, Founder & CEO, GimBooks said, “We at GimBooks are very excited about this partnership with RedCarpet, as it will enable our users to get access to credit in a short span of time with minimal documents, which in turn will ultimately help our merchants with more flexible working capital to fulfil their purchase requirements. RedCarpet is pioneering a unique credit card solution which is secure, reliable, effective and hybrid (available in both digital and physical forms). In the near future, we will be working with them to deliver a seamless credit card experience for our merchants along with quick disbursements, attractive spend based rewards and low joining fees.”

Harmeet Singh, Strategic Partnerships, RedCarpet said, “The vision behind introducing the GimBooks Card powered by RedCarpet  is to seamlessly offer credit to meet the working capital needs of all self-employed Indians at minimal costs. With this partnership, in the next one year, we aim to work along with more than 2 lakh small businesses in the country, penetrate deeper into the nation’s SME and ‘kirana’ segments, and be their support system when it comes to their unmet working capital requirements. RedCarpet has built 50+ plug-and-play features in-house, and we will be working closely in association with GimBooks to build more functionalities, which will prove to be highly effective and useful over the long term to these small and medium business owners,giving them peace of mind and access to credit whenever or wherever needed. We are also currently looking at ways to strategically engage with other brands to allow them to offer credit to their customers, essentially helping every brand become a fintech.”

Self-employed people aged 18 to 55 years with valid GST number can apply for the GimBooks Card via the GimBooks mobile app. The application will be 100% digital, wherein the user would be able to submit the whole application in less than 10 minutes.  The digital card will be issued instantly once an application is approved, whereas the physical card will be delivered to the address provided by the user while submitting his/her KYC details. Notably, GimBooks currently boasts of having a user base of over 2 million+ users – which includes wholesales, traders, retailers, distributors, stockists and many other small and medium sized business across various parts of India.