BusinessWire India
Bengaluru (Karnataka) [India], July 11: Avanti Finance, a leading tech-led financial inclusion platform, and Credit Saison India, a prominent neo-lending conglomerate, have formed a strategic partnership to launch a co-lending program aimed at providing credit access to underserved borrowers in rural India. The partnership aims to enable financial inclusion at the grassroots level.
The program, following a successful pilot phase, has already financed 12,000 borrowers, with 90 percent of them being women. The initiative has made a significant impact across four states, namely Odisha, Bihar, Assam, and Manipur. Loans are specifically tailored to support income generation in diverse livelihood streams, including agriculture, agro-allied activities, and micro enterprises. The collaboration capitalizes on Avanti's robust tech lending stack and a carefully curated partner network, complemented by Credit Saison's strong institutional balance sheet.
Rahul Gupta, CEO of Avanti Finance said, "We are delighted to collaborate with Credit Saison India to extend support to rural livelihoods with a range of loans that address hyperlocal needs. Credit Saison India, with its global parentage and financial depth, is a fantastic partner to build a scalable and impactful program. The partnership reflects our commitment to making credit accessible to customers at the base of the pyramid through our unique digital delivery-assisted model. We are now expanding to additional states, including Karnataka, Rajasthan, and West Bengal, with the goal of reaching 100,000 households and disbursing INR 500 crores annually."
Presha Paragash, CEO of Credit Saison India said, "Our partnership with Avanti Finance aligns seamlessly with our mission to facilitate credit growth in India. We serve multiple segments with a diverse range of asset classes, and this program provides us with an opportunity to contribute to financial inclusion. The alignment of our missions, coupled with a digital-first mindset, will enable us to offer purpose-fit loans that contribute to the development of sustainable livelihoods. Avanti's impressive paperless and presence-less platform has set the stage for exciting opportunities ahead, and we look forward to this journey."
The Avanti Finance and Credit Saison India partnership represents a significant milestone in advancing financial inclusion in rural India. By leveraging technology, expertise, and a shared commitment to empowering individuals, the co-lending program is set to create a meaningful and lasting impact on rural communities.
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