- Industry first initiative, MNPL will help reduce financial burden on the consumers
- SanKash aims to disburse INR 100 CR in the fiscal year
- The partnership will start from Radisson Gurugram and will expand to other Radisson hotels
India, 14th of March 2023: Making weddings more affordable and memorable, SanKash, one of India’s fastest-growing travel fintech introduced industry first initiative – Marry Now Pay Later (MNPL). SanKash has partnered with Radisson Gurugram, Udyog Vihar to make guests’ special day more memorable by assisting them to help manage their wedding finances. The company aims to disburse INR 100 crore in FY’24.
SanKash received an overwhelming response with 100+ queries worth INR 8 Cr from NCR for services offered by hotel which include food, venue, decoration, and trousseau within a week of the partnership. SanKash aims to reduce financial burden and assist millions of Indians in having a stress-free experience on one of the most memorable days of their lives.
Talking on the announcement, Akash Dahiya, Co-Founder and CEO, SanKash said, “The Indian wedding industry is the fourth largest industry. Post Pandemic, consumer behavior has changed drastically and has moved away from Saving and Spending mode to flexible, pay-over-time payment choices. With the Marry Now Pay Later, we hope to lighten the financial burden of consumers by allowing them to have their dream wedding without worrying about the budget. We are excited to partner with Radisson Gurugram, Udyog Vihar for one-of-its-kind of services in the wedding industry. We are aiming to disburse 100 Cr in the FY 23-24.”
According to the Confederation of All India Traders (CAIT), the Indian wedding market is worth $3.78 trillion and is predicted to expand by 20 to 25 percent yearly and almost 35 lakh couples will get married in the first half of 2023. With the Marry Now Pay Later SanKash aim to capture 0.1% of the market share. SanKash’s credit option under the initiative range in value up to INR 25 lakhs, depending on the requirements of the customer and it can be spread over 12 months with 6 months no-cost EMI option.
Namit Vijh Cluster General Manager Rajasthan & Agra Radisson Hotel Group South Asia & General Manager Radisson Gurugram, Udyog Vihar stated, “We are extremely happy to partner with SanKash to launch Marry Now Pay Later for our patrons, Radisson Gurugram, Udyog Vihar offers 200 rooms with 35000 sq feet of elegant lawns and 4 bespoke banqueting spaces being a favored destination for weddings in Delhi NCR. The hotel wedding experts curate each event to make it a memorable affair for each of the guests attending your big day. We have plans to further take this exclusive offering to other Radisson Hotels in Rajasthan & Agra which are known for grand destination weddings”.
SanKash is a team of travel enthusiasts and Finance technocrats on a mission to make travel one of the accessible and affordable pleasures of life for ordinary people. In their endeavour to do the same, the primary focus is on designing products and solutions which help travel payments work for everyone: the travel merchants, lenders, and travellers. Identifying the massive gap within the Indian travel market between travel experiences and availability of money on time for the same, Akash Dahiya and Abhilasha Negi brought forth the unique, concept-based alternative lending solution, SanKash. Their idea was to empower both the stakeholders of the travel ecosystem through its pay-in-parts solution. With SanKash offering affordable payment plans, its travel partners operating both online and offline, can get their customers to take the travel decisions faster and increase the trip value, thereby augmenting their sales.