- cemX will enable loan options for its end consumers with an upper ceiling of two lakhs
India, 8th September 2020: cemX- India’s pioneer e-commerce cement firm has joined hands with ZestMoney, to launch a first-of-its-kind holistic approach for quick and affordable EMI options for their end customers. This will be the first time when an EMI credit option shall be offered to any Building Material customer to cope up with the financing challenges of small and medium builders in Tier 2 and Tier 3 cities of India.
Commenting on the occasion, Ashutosh Kumar Jha (Founder & CEO), cemX, said, “We are excited to have taken up this new opportunity for our e-purchasers. Our vision is to empower the community by enabling them easy to pay EMI options. This will immensely benefit the tier two and tier three customers by reducing their financial burdens while keeping their dream of building a house unimpaired.”
Adding to the same, Sourav Chakraborty (Co-Founder & CBO), cemX, said, “We at cemX, are trying to ensure payment feasibility for our clients by introducing the credit options. This will not only help us enrich our clientele but will also unleash our clients’ financial predicaments.”
The e-commerce store facilitates and aggregates cement procurement while ensuring cost-effectiveness for the BOP sections of tier 2 and tier 3 cities to provide hassle and bargain free cement deals. Through this partnership with ZestMoney, customers acquiring cement online will be able to overcome the inconveniences of bank loans seamlessly, thereby supporting the Indian MSME companies. The minimum amount of loan is as low as five thousand with a capping of two lakhs, where the interest rate is 0.75% per month.
We are India’s first digital cement procurement company, an aggregator platform that facilitates a direct supply channel between the large dealerships of cement and the end consumers that may be a real estate company, builders or small retailers lower down on the supply chain in the B2B domain while it also targets individual customers on the B2C side. We aim to achieve parity and transparency in cement pricing by removing any arbitrage for offering economies of scale on cement pricing. We therefore are breaking the barriers of geographic segregations and demographics by disrupting the human-middlemen supply chain.
Founded in May 2019, cemX enables its customers to buy cement of different brands available in the Indian market at the best competitive prices. It has efficiently redesigned the orthodox cement distribution channel. cemX therefore aims to democratize the purchasing power of the consumer namely the middle- and lower-class segments of Indian society.
ZestMoney is the largest and fastest-growing consumer lending fintech company in India founded by Lizzie Chapman, Priya Sharma, and Ashish Anantharaman in 2015. ZestMoney is built as a platform that can meaningfully improve the lives of more than 300 million households in the country, who currently have no access to credit cards or any other formal financing options because of insufficient credit history. ZestMoney’s unique platform uses mobile technology, digital banking, and Artificial Intelligence to make life more affordable to millions of Indian consumers by putting customers in touch with our lending partners and managing their credit for them. ZestMoney’s innovative technology and work to make affordable digital finance accessible led to its selection as a 2020 Technology Pioneer by the World Economic Forum.