Mumbai: The online payment platform, BharatPe Group has completed acquiring a majority stake in Mumbai-based NBFC (Non-Banking Financial Company) – Trillion Loans.
The company said that the deal was completed in April this year. Ravindra Pandey, Nalin Negi and Sabyasachi Senapati have been appointed to the Board of Trillion Loans.
As per the press release, 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 India.
Commenting on the acquisition, Shashvat Nakrani, founder and Chief Operating Officer (COO) of BharatPe said, “Acquiring a 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 partnering with other fintechs and startups, so as to offer their customers a quick and streamlined experience.”
Trillion Loans is a rapidly growing NBFC that claims to offer a range of secured and unsecured loans to SMEs, including small business loans as well as working capital loans. The company also offers a range of products for consumers, such as education loans, auto and gold.
