Piramal Retail Finance, a subsidiary of Piramal Enterprises, has launched its expanded multi-product retail financing platform. Focused on small and mid-town India, the company offers new and expanding product offerings to meet various financing needs of customers in these regions. Over the last quarter, Piramal has launched digital purchase finance and used-car financing solutions. For the new product, the has entered into partnerships with various participants in the tech ecosystem, servicing customer needs in these geographies. It has My Team gone live with 2 fintech partnerships – one each in the space of purchase finance by partnering with ZestMoney and used-car Financing under a partnership with CARS24. The company said the new platform offers a quick and easy way for consumer tech companies to offer financing solutions to their customers, at scale.
With these new offers, Piramal Retail now has 7products in its target markets – affordable housing loans, mass affluent housing loans, loans against property, secured small business loans, purchase finance, unsecured loans and used-car loans. Jairam Sridharan, CEO of the company, said the company’s core target market is the budget customer of Bharat and for this customer, Housing Finance remains a very important financial need. However, they have a wide variety of other needs as well – to expand their business, to buy a second-hand car, etc. Availability of credit for these highly underserved segments has been limited and the company’s expanded multi-product platform aims to serve these diverse needs and contribute to the growth story of Bharat, he added.
