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Piramal Capital & Housing Finance Limited (PCHFL), a wholly-owned subsidiary of Piramal Enterprises Limited, has today announced its strategic partnership with API Holdings Limited (API Holdings) through its digital platform Retailio.
“The partnership aims at synergizing respective capabilities to provide efficient and seamless financing solutions to consumers, retailers, and merchants in the API Holdings’ healthcare ecosystem,” the statement said.
Under this partnership, PCHFL Finance has earmarked an initial amount of INR 100 crore for disbursement by March 2022, which will get an upsized basis initial market response.
Further, PCHFL will provide solutions like Buy Now Pay Later (BNPL) for consumers and merchants, multi-collateral loans for retailers, supply chain financing, hospital financing, invoice discounting, among others.
This alliance leverages the strengths of both companies, making this a winning proposition for all stakeholders, thereby expanding the reach and tapping new customers.
Speaking on the partnership, Jairam Sridharan, MD, Piramal Capital & Housing Finance Limited said, “We are pleased to partner with API Holdings to provide tech-enabled financing solutions to fulfill the healthcare needs of their customers. Healthcare has become one of the largest sectors in India, driven by disruptive innovation and increasing spending by consumers as people are prioritizing health and well-being in the new normal. New age platforms like Retailio are leading the paradigm shift in the sector through impactful and scalable digital health solutions that make a real difference in the lives of people.”
“This partnership is in line with our strategy of expanding our retail portfolio through a mix of collaboration-led origination model and leveraging our distinguished digital lending capabilities. We look forward to a profitable and long-term partnership with API Holdings, as we aim to disburse up to Rs 100 crore by the end of March 2022,” he said.
Commenting on the development, Harsh Parekh, Whole-time Director & Co-founder, API Holdings, said “We are extremely delighted to partner with Piramal Capital & Housing Finance and we believe that this partnership will provide the right capital impetus across the full spectrum of ecosystem partners that we currently cater to. By bringing together our potential synergies, we aim to provide capital to the underserved SME & MSME segment that would in-turn help fuel growth for these businesses.”
“We, at API and Retailio, are continuously striving to seamlessly digitize the current off-line healthcare market in India and our partnership with Piramal will enable us to extend various credit products through our ecosystem of platforms. We share a similar vision & mission with Piramal for the sector and now look to fast track roll-outs of various innovative offerings, for our SME & MSME partners as well as our consumers,” Rohit Anand, Head of FinTech, API Holdings added.