Poonawalla Fincorp partners with KrazyBee; plans to disburse Rs 1000 Cr in digital loan

Reader's Pick

Pune-based Poonawalla Fincorp (Formerly Magma Fincorp) has entered the digital consumption loans space through a tie-up with KrazyBee.

Through the partnership, Poonawalla Fincorp will offer small ticket personal loans to individuals. The company focuses on consumer and small business finance as a part of its stated strategy.

The company in its issued statement said, “This partnership is a step towards building a strong partnership with partners who have demonstrated distribution at scale, risk management capabilities along with their technical prowess.”

- Advertisement -

The partnership provides complete end-to-end digital consumer loans across the country. The credit underwriting for these loans is done through a scorecard which enables the right customer selection at scale, while the complete digital process helps democratize the process of taking a 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,” the statement added.

Speaking on the partnership, 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 for our business strategy. The partnership brings together two leaders who are obsessed with customer satisfaction and want to offer the best of customer experience to all their customers by leveraging technology.”

Further adding to the statement, Madhusudan E, CEO of KrazyBee said, “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.”

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($239 billion) with...

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's dominant...

Jack Dorsey may not appear before Indian parliamentary Panel on 25 February

Twitter CEO Jack Dorsey will not appear before the Parliamentary panel on IT on...

Rajesh Bysani joins Brainly as its new CPO

A New York headquarter peer-to-peer learning platform, Brainly has announced the appointment of Rajesh...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rahul Gandhi...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countries around...

How to Win at Mostbet Slots?

Slots are still the most popular form of entertainment in gambling establishments. Some casinos...

New African online casinos in international style

The advantage of cashback over casino bonuses is that it is paid in cash...

How Ginesys retail ERP Software Can Solve 7 Common Manufacturing Problems

The retail industry is undergoing a massive transformation. Customers nowadays prefer shopping through multiple...

“WE BLOWIN UP MAYNE,” Mahbod Moghadam on HellaDoge & Mark Zuckerberg

On Saturday Afternoon, Mahbod Moghadam, Co-founder of HellaDoge sat down with the TechGraph editorial...

In conversation with Paramdeep Singh Anand, CEO of FieldAssist

Today we speak to Paramdeep Singh Anand, CEO of FieldAssist to understand how FieldAssist...

The benefits of chatbots in healthcare

The Pandemic has made significant improvements to healthcare services. Industry professionals had to switch...

MoneyTap collects Rs 500 crore in series B round funding from Aquiline Technology Growth, RTP Global, and Sequoia India

Online consumer lending startup MoneyTap on Monday announced that it has raised Rs 500...

France to introduce eco-tax on outbound flights

France will introduce an eco-tax on airlines flying out of France, which is expected...