Poonawalla Fincorp Limited has entered digital consumption loans space through partnering with KrazyBee. Under the tie-up, Poonawalla Fincorp will offer small ticket personal loans to individuals. Poonawalla Fincorp focuses on consumer and small business finance as a part of its stated strategy, the non-bank lender said in a statement.
The partnership provides complete end to end digital consumer loans across the country, Poonawalla Fincorp said in the statement.
The credit underwriting for these loans is done through a scorecard which enables right customer selection at scale, while the complete digital process helps democratize the process of taking loan. The partnership has seen a lot of traction within a month of its launch and the company intends to do more than 1000 crores of disbursement under this partnership in the current financial year, it added.
CA Abhay Bhutada, Managing Director, Poonawalla Fincorp said, “We are glad to partner with KrazyBee for new business opportunities and connecting with prospective customers through KreditBee’s digital platform. We are a digital-first, technology-led lender, and this partnership with KrazyBee is a natural fit to our business strategy. The partnership brings together two lenders who are obsessed with customer satisfaction and want to offer the best of customer experience to all their customers by leveraging technology.”
Madhusudan E, CEO, KrazyBee commented, “Our technology strength empowers our partners to provide seamless disbursement services. Partnering with a Digital first partner like Poonawalla Fincorp helps us offer a wider range of products and services to our customers and also enables us to meet the ever-growing demand for digitally enabled loans.”
