BharatPe Acquired a 51% stake in NBFC Trillion Loans.
BharatPe fintech acquired a 51% stake in Trillion Loans, A Mumbai-based Non-banking financial company. This deal was completed last month in April.
Bharatpe said in a statement on Tuesday the company aims to keep the country at the forefront and remove the credit gap between millions of businesses and consumers.
Trillion Loans continue to work independently but under the supervision of the board after the acquisition. The CEO and CFO of Bharatpe appointed its banking vertical head Sabyasachi Senapati as part of the deal.
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The NBFC continuously finds fintech partners to increase its credit ability to give loans to various businesses and individuals. Bharatpe invested a massive amount in Trillions loans to grow its Loan Book and business.
The Matrix Partners backs the company. It provides small and medium loans to businesses and gold, auto, and education loans to individuals.