Reliance Capital arm invests $1 mn in digital lending start-up Billionloans

Anmol Ambani, Reliance Capital

Latest News – Reliance Corporate Advisory Services, an arm of Reliance Capital, today said it has made an investment of about Rs 7 crore ($1 million) in alternative digital lending startup Billionloans Financial Services Pvt Ltd.

This is the second major startup investment, after Paytm, by Reliance Capital.

Billionloans, led by Ex-Infosys CFO V Balakrishnan, is a technology-enabled financial services company focused on providing flexible and affordable options to individuals and small businesses that have so far found it difficult to access loans from the traditional banking system.

The company was founded by Rangan Varadan, a serial entrepreneur who has also co-founded MicroGraam – an online micro-lending platform, along with other professionals in the finance and IT industry.

The investment is in line with RCap’s strategy to expand its consumer (Read More)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s