MAM
Zomato partners with InCred to extend credit facilities to restaurant partners
NEW DELHI: Adding a fillip to India’s burgeoning food tech industry, Zomato has recently entered a strategic partnership with InCred, one of the leading fintech lenders in India. As part of the tie-up, InCred will extend hassle-free credit facilities to Zomato’s restaurant partners.
The food delivery industry was one of the worst-affected segments during the pandemic with its gross merchandise value (GMV) falling short of the pre-Covid levels. However, we can now see a revival trend in the industry. The food delivery business has crossed the pre-Covid run rate and is expected to grow further in the months to come. The InCred-Zomato partnership will extend financial assistance to cash-strapped businesses for meeting their business growth and working capital needs.
InCred empowered Indian businesses with unsecured business loans even during the peak of the lockdown. The tech-driven lender offers loans with minimal documentation and gives loan approval within 48 hours with zero physical interactions.
InCred CEO (SME business) Saurabh Jhalaria said, “At InCred, we understand the value of financial assistance for businesses, especially the SMEs. The Covid2019 outbreak has led to a sharp decrease in footfall, order volume, and bucket size within the food services segment. In this context, platforms such as Zomato have emerged as a true gamechanger by enabling physical businesses to recover seamlessly. We are happy to join hands with Zomato and are confident that it will further aid the economic recovery of the vertical.”
“While the food delivery business has made a strong comeback, the overall food service industry is still far from reaching pre-Covid levels. We have been working on many initiatives to boost its recovery and one such is our partnership with InCred. It will help our restaurant partners with easy, risk-free credit options designed to achieve their operational and bottom-line goals,” added Zomato chief sales officer Rakesh Ranjan.
InCred offers tech-driven credit services to its customers that are time-efficient and cost-effective. Apart from its SME loans (which comprises working capital loans, term loans, and channel finance), the product portfolio of the company also includes personal loans (wedding loans, medical loans, and travel loans) and education loans.
Brands
Hardik Jhaveri named senior director marketing at Colgate-Palmolive Asean hub
Former Hill’s Pet Nutrition general manager returns to the company to steer marketing for South Asean from Kuala Lumpur
KUALA LUMPUR:Â Hardik Jhaveri has been appointed senior director marketing for the South Asean hub at Colgate-Palmolive, marking a return to the consumer goods major after a three year stint with Hill’s Pet Nutrition. He will be based in Kuala Lumpur and will lead marketing strategy for the region.
Jhaveri joins the role after serving as general manager at Hill’s Pet Nutrition in Taipei, where he led a cross functional team and oversaw the business with full profit and loss responsibility. The role placed him at the helm of operations in Taiwan, managing growth in what he described as a start-up style environment within a global multinational.
Before that, Jhaveri spent over a decade with Colgate-Palmolive across several marketing and innovation roles in Asia. As associate director innovation for Apac excluding China, based in Hong Kong, he led new product development and launches across multiple markets.
His portfolio ranged from developing specialised oral care products such as a diabetes focused toothpaste for the Indian market to launching premium oral care experiences under the Colgate Total brand in Australia. Alongside innovation, he also worked on launch planning, brand strategy and communications for the company’s oral care portfolio.
Earlier in his Colgate-Palmolive journey, Jhaveri held roles including marketing manager innovation, senior brand manager and brand manager. His work spanned urban and rural markets in Mumbai and customer development responsibilities in the Greater Kolkata Area.
Prior to his long association with Colgate-Palmolive, Jhaveri worked as brand officer home care at Unilever, where he helped drive marketing initiatives for the Rin detergent brand, including nationwide relaunch and on ground activation campaigns.
He began his career in advertising with Bates David Enterprise, working on brands such as IDBI Bank, The Leela Hotels and The Times of India.
Jhaveri holds a post graduate programme in management from the Indian School of Business and has also completed a level 4 diploma in wine from the Wine & Spirit Education Trust.
Announcing the move, Jhaveri said he is excited to begin his new chapter at Colgate-Palmolive’s South Asean hub and thanked colleagues and mentors who supported his journey at Hill’s Pet Nutrition.
