Ozon launches its "Money for Purchases" service for sellers

The marketplace's sellers now have the ability to buy now and pay later: Ozon pays the product supplier or manufacturer, and then the seller repays the marketplace as the owed amount appears in the seller's account.

With the launch of Money for Purchases, Ozon continues to expand its lineup of fintech products for businesses. The program will help sellers broaden their offering thanks to the deferred payment. This new special service will enable entrepreneurs to successfully manage their working capital in order to achieve business growth and sales. Payment can be deferred from 30 to 90 days.

Commissions and limits are calculated based on an automatic score. Ozon analyzes the seller's history on the marketplace in terms of length of activity on the platform, sales performance, and several other indicators. In addition, unlike traditional credit products, Ozon does not require collateral, and the entrepreneur's credit history will not be affected.

"Small and medium-sized businesses are constantly in need of funds to beef up their offering. We created a service that lets them quickly purchase raw materials for production or resale. We take on payment obligations and give sellers the opportunity to quickly increase their turnover," says. Vahe Ovasapyan, Head of OZON Fintech.

Sellers can get financing without putting together a large dossier or finding a guarantor. To be approved for financing, a seller must be a sole proprietor or a legal entity, and must have been active on the Ozon platform for at least 3 months. The application is available in the seller's personal account in the "Finance" section or on the Ozon Factoring platform. It takes no more than 10 minutes to apply.