BharatPe ventures into secured lending for merchant partners
Summary
BharatPe has announced that it will now provide secured loans for merchant partners on its platform. The loan application process is 100% digital and merchants have the option to choose a repayment period between 12-48 months. It has stated that it plans to expand to a multi-product and multi-lender offering in the next phase.Company CEO Nalin Negi said that unsecured loans will open a new monetization channel for the fintech company and will also help to drive engagement with merchants. I am confident that secured loans will have a significant contribution to our overall revenue in the coming months.Bharat Lamba, Co-founder & CBO said that Volt Money was uniquely positioned to meet the short-term liquidity and working capital needs of MSMEs by providing instant loans against Mutual funds.BharatPe acquired a 51% stake of its non banking financial (NBFC) arm Trillion Loans back in May 2023. PhonePe launches digital lending for consumers with 15 partnered banks, NBFCs, and Fintech RBI bans P2P lending companies from selling loans as investments in new guidelines RBI Governor Says List Of Official Digital Lending Apps Published On MeitY Website, But We Couldnt Locate ItSTAY ON TOP OF TECH NEWS: Our daily newsletter with the top story of the day from MediaNama, delivered to your inbox before 9 AM.