NEW DELHI: Travel fintech firm SanKash on Thursday said it plans to disburse Rs 100 crore in the next 6-9 months at zero per cent interest rate with an aim to provide a financial boost to travel agents and help them grow their businesses.
SanKash offers plug-n-play API platform that allows merchants to embed a single 'pay later' button at checkout by aggregating multiple consumer financing providers.
Travel agents can avail up to Rs 50 lakh with no collaterals, security, or guarantors to qualify for the no-cost working capital programme, SanKash said while announcing the launch of 'A no-cost Working Capital program' service.
It further said the programme is designed to be flexible, allowing travel agents to use the working capital for various business needs, such as covering operational expenses, marketing efforts, or expanding their service offerings.
"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," said Akash Dahiya, Co-founder & CEO, SanKash.
The company further said travel agents typically incur a high-interest cost ranging from 18-24 per cent.
According to several industry reports, it added that there are nearly 3 lakh travel agent businesses catering to holidaymakers.
These are scattered across categories of service providers such as travel packages, cab and bus booking companies.