BharatPe Acquires 51% Stake In Trillion Loans This acquisition is in line with BharatPe Group's vision to be at the forefront of addressing the credit gap for millions of businesses and consumers in the country
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Fintech giant BharatPe Group, today announced that it has completed its acquisition of a majority stake of about 51% in Trillion Loans, a renowned NBFC (Non-Banking Financial Company) based out of Mumbai. The deal was completed in the month of April. This acquisition is in line with BharatPe Group's vision to be at the forefront of addressing the credit gap for millions of businesses and consumers in the country. BharatPe shared that Ravindra Pandey, Nalin Negi and Sabyasachi Senapati have been appointed on the Board of Trillion Loans.
"Acquiring controlling stake in Trillion Loans is aligned to the BharatPe Group's larger purpose and will enable us to facilitate access to capital to a wider set of underserved and unbanked businesses as well as customers. Trillion Loans will work independently and will be technology-driven NBFC. It will be open to partner with other fintechs and startups, so as to offer their customers a quick and streamlined experience. BharatPe values its existing partnerships with NBFCs and financial institutions and this acquisition will have no impact on these relationships," said Shashvat Nakrani, founder and COO, BharatPe.
According to an official statement, Trillion Loans will operate as an independent entity with its own team under the supervision of the Board. It will explore partnerships with other fintech firms and other companies to enable credit across a diverse set of businesses and consumers. BharatPe has also infused a substantial amount of investment into Trillion Loans to enable the NBFC to grow its loan book.
"BharatPe will bring in the product and technology capabilities that will further empower Trillion Loans to launch new and path-breaking digital lending products that will cater to a diverse set of business owners and customers. I believe that there is a huge opportunity for Trillion Loans to further grow and address the close to $380 billion MSME credit gap as well as meet the diverse consumer credit demand in the country that has the largest youth population in the world," added Shashvat Nakrani.
Trillion Loans is a fast-growing NBFC that offers a range of secured and unsecured loans to SMEs, including small business loans as well as working capital loans, whereas, BharatPe was founded to make financial inclusion a reality for Indian merchants.