Fri. Mar 29th, 2024
Reliance Corporate Advisory Services Limited

Reliance Corporate Advisory Services Limited has recently invested approximately ₹7 Crore in alternative lending platform Billionloans. The primary motive behind this investment is to expand its consumer lending business across the platforms and cover vast area. Billionloans is a technology-enabled financial services company which focuses on providing flexible and affordable financing options to individuals and small businesses to grow and copete with different products in market.

Anmol Ambani, executive director, Reliance Capital stated that “Technology and innovation in financial services are going to play a big part in bridging the gap between aspirations of a large number of Indians wanting access to credit on one hand and the ability of companies to build efficient and scalable lending models on the other, we look forward to supporting Billionloans in their vision and partner in their growth.”

Varadan, chief executive of Billionloans commented that “We are integrating diverse data analytic techniques like psychometric analysis and big data, along with user experience focused design on making this happen, we will leverage MicroGraam’s model of building a grassroots partner organization to connect borrowers and lenders.”

Moreover, the lending platform will initially focus on loans to Small and medium enterprises, affordable housing loans, education loans and personal loans.