Browsing: NBFC

U GRO Capital, a listed, MSME lending fintech platform, surpassed Assets Under Management (AUM) of Rs 3,656 crore as of June 30, 2022 (+166% compared to June 30, 2021) and is on track to cross the mark of Rs 7,000 crore AUM by March 2023, the fintech said in release. 

Private non-banking finance company (NBFC), Mahindra Finance has tied-up with Credgenics, a Software-as-a-Service (SaaS) company to boost its collections digitally. 

Digital lending fintech platform, LoanTap, has announced a business collaboration with Muthoot Finance. This co-lending partnership will enhance the reach…

Bajaj Finance said it aims to enhance its relationship with both their existing and new network of merchant partners, by providing point-of-sale terminals and enabling acceptance of a wide range of payment instruments such as EMI cards, credit cards, UPI and wallets on those terminals.

NBFC-Factor 121 Finance gets onboarded on all three TReDS platforms

The funds raised through this issue will be utilised primarily for lending activities of the Company, Muthoot Finance said.

We hope that the upcoming guidelines will be a mirror to the thoughts of the government to make sure that the sector is getting the necessary boost while maintaining high standards of responsibility and transparency, said Souparno Bagchi, COO, True Balance.

The non-bank gold lender launched the service of gold loans at home in 2020 during the pandemic with average ticket size at Rs 6.5 lakh and currently above 60-65 percent of these loans are being availed by self-employed people to finance their business. 

The JV would lead to Open getting a recurring annual SAAS fees per customer by offering its technology services  to the JV. Further they would be able to leverage the lending book of IIFL Finance to offer innovative solutions to its merchant base.

 “India’s retail credit market is undergoing rapid evolution supported by the speed and scale of digital transformation. This transformation coupled with India’s demographic dividend has triggered unprecedented opportunities for driving growth and financial inclusion in the market,” said Rajesh Kumar, MD & CEO of TransUnion CIBIL.