Leaked screenshots show Amazon is partnering with Goldman Sachs and other banks to launch a new lending marketplace for sellers
Amazon is testing a new lending marketplace for its third-party merchants, Business Insider has learned.
Amazon stopped disclosing its lending amount in 2017, when it said it made a total of $3 billion in merchant loans so far.Amazon is partnering with several banks, including Goldman Sachs, for a new online lending marketplace where mercahnts who sell their goods on Amazon's site can take out loans and lines of credit, Business Insider has learned.
"Amazon's primary goal is to drive the ability of their merchants to scale bigger, faster, and better," Schwark Satyavolu, an investor at Trinity Ventures, told Business Insider. "You can get more credit to more merchants in a marketplace model."that it passed $3 billion in merchant loans, but has since stopped disclosing such details about its lending business.
"We have some special news. We increased our maximum loan size and for the first time we're offering loans up to $1,000,000!" the email said.
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