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BharatPe acquires 51% stake in Trillion Loans
May 04, 2023
BharatPe Group on Tuesday announced the successful acquisition of a majority stake in Mumbai-based NBFC Trillion Loans in April.
Trillion Loans provides secured and unsecured loans to SMEs, as well as small business and working capital loans. The NBFC also offers auto, gold, and education loans to consumers.
Says Shashvat Nakrani, founder and COO, BharatPe, “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 a technology-driven NBFC.”
Says Shashvat Nakrani, founder and COO, BharatPe, “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 a technology-driven NBFC.”
Trillion Loans will operate as an independent entity with its own team and will seek partnerships with other fintechs to provide credit to businesses and consumers. It will be open to partner with other fintechs and startups, to offer 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,” Nakrani said.
The new deal will see advisor to the board, Ravindra Pandey, CFO Nalin Negi; and head of banking vertical, Sabyasachi Senapati of BharatPe joining Trillion Loans’ board. BharatPe Group has invested a substantial amount of money into Trillion Loans to help grow its loan book.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/