Trillion Loans provides a number of products for consumers, including gold, auto, and school loans.
Trillion Loans will receive assistance from BharatPe in order to offer new digital lending products that will cater to a diverse set of clients and company owners.
In April, BharatPe Group finalized its acquisition of a majority stake in Trillion Loans, a Mumbai-based non-banking financial company (NBFC). According to an official statement by BharatPe, the company now holds a 51% stake in Trillion Loans, which will continue to operate independently.
As part of the agreement, Trillion Loans will maintain its own team, which will be overseen by the company's board. In addition, BharatPe has injected a significant amount of funds into the NBFC to expand its loan portfolio. Trillion Loans intends to collaborate with other fintech companies to extend credit to a wide range of businesses and individuals.
The acquisition aligns with BharatPe's objective of being at the forefront of "resolving credit challenges for millions of businesses and consumers in India." The fintech company plans to assist Trillion Loans in developing new digital lending products that cater to a diverse group of customers and entrepreneurs.
Trillion Loans extends a diverse selection of secured and unsecured loans to small and medium-sized enterprises. Additionally, this NBFC provides a range of products tailored for individuals, including education loans, auto loans, and gold loans.
"Acquiring a controlling stake in Trillion Loans is consistent with the BharatPe Group's larger goal and will enable us to provide capital to a broader set of underserved and unbanked businesses and customers. Trillion Loans will operate independently as a technology-driven NBFC. BharatPe will be open to collaborating with other fintechs and startups in order to provide their customers with a quick and streamlined experience," stated BharatPe founder and COO Shashvat Nakrani.
According to Nakrani, Trillion Loans have tremendous potential to tackle the MSME credit gap of nearly USD 380 billion and cater to the varied consumer credit needs prevalent in the country. In addition, Nalin Negi, Ravindra Pandey, and Sabyasachi Senapati have been appointed to the board of Trillion Loans.
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