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Wednesday, January 26, 2022
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Online PSB Loans raises ₹50 crore from HDFC Holdings and TransUnion

Online PSB Loans (OPL) has raised ₹ 50 crore from HDFC Holdings and TransUnion (TRU).

The investment will see both HDFC Holdings (a wholly owned subsidiary of HDFC) and TransUnion (a global information and insights company) take strategic minority stakes in OPL, according to a company statement.

However, the statement did not specify how much stake HDFC Holdings and TransUnion will take in online PSB loans.

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Online PSB Loans is an online loan platform that allows borrowers (mainly MSMEs and individuals) to apply for a loan ranging from ₹ 10,000 to ₹ 5 crore, and receive approval in principle in 59 minutes or less from banks and credit institutions. credit.

The fund raised will be used to help facilitate retail and MSMEs financing, according to the statement.

“Through the partnership, the three companies will combine their unique strengths and capabilities in data, technology and analytics to explore the development of new products and solutions…” said Online PSB Loans.

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