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C2FO partners with India’s Kotak on working capital management solution

India’s Kotak Mahindra Bank (Kotak) is partnering with working capital market C2FO to offer what it describes risk-free solution to manage working capital more efficiently.

Kotak added that the partnership with C2FO adds additional layers of depth to meet the increasing working capital needs of Indian businesses.

With US$2.2 trillion (Rupees 154 Lakh crore) of spend from Indian and global corporates represented by C2FO, and year-on-year growth of 300% in the adoption of C2FO by vendors to India’s corporates, Kotak expects the partnership to improve returns and margins for the bank’s customers, while creating an influx of liquidity for their vendors.

Early payment

Vendors of Kotak corporate customers can access early payment on approved invoices when they want, and at desired discount rates using C2FO, thus providing businesses with access to affordable capital. Using C2FO’s working capital market enables vendors to turn receivables into cash flow and corporates to turn payables into income.

“Partnering with C2FO allows us to offer an effective working capital management technology that provides corporates in India access to efficiency levels achieved by Fortune 500 companies globally,” said Shekhar Bhandari, senior EVP- global transaction banking and precious metals, Kotak Mahindra Bank.

Pradeep Gode, country head, C2FO India, added, “The C2FO and Kotak partnership further empowers collaboration between corporates and their vendors to improve working capital management for all.

“Kotak’s customers can now complement their existing working capital strategies with an innovative and risk-free solution that has proven to increase gross margin and EBITDA. Our customers have already experienced strong C2FO adoption from businesses across India, and we expect demand to grow as we open up this opportunity to Kotak’s customers.”


This item appears in the following sections:
Payments - Making
Paying Suppliers
Region
Asia
Working Capital Management
Collecting Payments via Mobile

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